American Physicians Service Group, Inc. Announces Election of Jackie Majors to Board of Directors

AUSTIN, Texas, UNITED STATES


AUSTIN, Texas, March 19, 2003 (PRIMEZONE) -- American Physicians Service Group, Inc. ("APS") (Nasdaq:AMPH) today announced that Jackie Majors had been elected to its board of directors. Mr. Majors was also appointed to serve on the Audit Committee of the Board. Mr. Majors is a private investor with many years of experience as an executive in both public and private companies with a healthcare focus. Mr. Majors had previously served on the Board from 1989 through 1993. Mr. Majors replaces Mr. Paul Robshaw who resigned due to the time commitment required to serve on both the Board and Audit Committee.

Ken Shifrin, APS Chairman of the Board stated, "The addition of Jackie Majors brings additional knowledge and deep experience to the Board and we welcome him back. His independence, his knowledge of the healthcare industry and his proven business insight will be tremendous assets to the Board."

APS is a management and financial services firm with subsidiaries and affiliates which provide: medical malpractice insurance services for doctors; brokerage and investment services to institutions and high net worth individuals; and dedicated care facilities for Alzheimer's patients. The Company is headquartered in Austin, Texas and maintains offices in Dallas and Houston.

This press release includes forward-looking statements related to the Company that involve risks and uncertainties that could cause actual results to differ materially. These forward-looking statements are made in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect the Company's future results, please see the Company's recent filings with the Securities and Exchange Commission. Prospective investors are cautioned that forward-looking statements are not guarantees of future performance. Actual results may differ materially from management expectations. Copies of the filings are available upon request from the Company's investor relations department.

For further information, visit APS' website at www.amph.com


            

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