SOURCE: American Physicians Service Group, Inc.

July 31, 2006 10:21 ET

American Physicians Service Group, Inc. Announces Second Expansion of Its Stock Buyback Plan

AUSTIN, TX -- (MARKET WIRE) -- July 31, 2006 -- American Physicians Service Group, Inc. ("APS") (NASDAQ: AMPH) today announced that it had completed the $2,000,000 stock buyback plan announced in December of last year and that its Board of Directors had authorized the repurchase of up to an additional $2,000,000 of the Company's outstanding common shares.

Mr. Ken Shifrin, Chairman of the Board, said, "This is the second expansion of our repurchase program that was originally announced in August 2004. We believe that these repurchases provide a service to shareholders looking for liquidity, but particularly reward shareholders who remain to share in the equity and value that we have been building over many years. Even after the buyback and the increased dividend that we paid last month, we retain significant liquidity and the ability to act on growth opportunities. We are happy to announce the continuation of this program."

About the Company

APS is a management and financial services firm with subsidiaries that provide: medical malpractice insurance services for doctors; and brokerage and investment services to institutions and high net worth individuals. The Company is headquartered in Austin, Texas and maintains offices in Dallas and Houston.

Forward-Looking Statements

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 the 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.

Contact Information

  • For further information, visit APS's Website at www.amph.com or contact:

    Mr. Kenneth Shifrin
    Chairman of the Board

    (or)

    Mr. W. H. Hayes
    Sr. Vice President - Finance

    American Physicians Service Group, Inc.
    1301 Capital of Texas Highway, C-300
    Austin, Texas 78746
    (512) 328-0888