AUSTIN, Texas, Dec. 26, 2006 (PRIME NEWSWIRE) -- Improve FIC, a committee of concerned shareholders of Financial Industries Corporation ("FIC" or the "Company") (Pink Sheets:FNIN), including experienced insurance industry chief, John Fibiger, announced today that a court-enforced adjournment of the December 6, 2006 Annual Meeting of FIC shareholders will be held on Tuesday, January 16, 2006 at 10:00 a.m., local time. The location of the meeting will be announced in a meeting notice to be sent by the Company to shareholders on or before December 29, 2006.
Improve FIC previously sent FIC shareholders a proxy statement and gold proxy card to be voted at the Company's December 6, 2006 Annual Meeting. The proxy statement and gold proxy card detailed Improve FIC's proposals and set forth a slate of director nominees to be voted on at the Annual Meeting. Due to the adjournment, FIC shareholders still have time to join many of their fellow shareholders in supporting Improve FIC's proposals, its nominees, and its plans for the Company's future by voting Improve FIC's gold proxy card in advance of the reconvening of the Annual Meeting on January 16, 2006 .
Improve FIC has assembled a team of experienced professionals to breathe fresh life into FIC, a troubled insurance company, which has had an interim CEO for more than a year, and before that had a CEO with no insurance company experience who was forced to resign. Improve FIC's nominees were carefully selected based on experience, expertise in the life insurance industry, and track records of exercising strong, independent judgment. Five of Improve FIC's eight directors have served as senior officers at life insurance operations.
John Fibiger, a member of Improve FIC and the Improve FIC board slate, boasts an impressive resume, which includes two troubled-company turnarounds and experience leading Transamerica Life. Mr. Fibiger has been in contact with several top insurance company executives who have expressed great interest in assisting Mr. Fibiger to turn the Company around.
Improve FIC will be mailing additional proxy materials and proxy cards to FIC shareholders in the weeks preceding the January 16, 2006 adjournment date. Improve FIC's proxy statement and other relevant documents are available for free at www.sec.gov. You may also obtain a free copy of Improve FIC's definitive proxy statement by contacting D.F. King & Co., Inc. toll-free at (800) 714-3313. If you have any questions about Improve FIC or how to vote, please call (512) 479-6777.