SOURCE: APS Financial Corporation

October 03, 2005 16:07 ET

APS Financial Corporation Initiates Coverage of Muzak

AUSTIN, TX -- (MARKET WIRE) -- October 3, 2005 -- APS Financial Corporation has initiated coverage of Muzak High Yield Notes and Term Loan (bond symbol: MUZK). The Company is being covered by Vice President & High Yield Analyst Brent J. Brewer, CFA. For more information and a copy of the comprehensive research report, please contact High Yield Associate Analyst Grant A. Wilbeck at gwilbeck@amph.com or toll free at (800) 248-0620.

APS Financial Corporation (APSF), a subsidiary of American Physicians Service Group (NASDAQ: AMPH) specializes in insurance company fixed income asset management, institutional and retail securities sales, and investment analysis. Established in 1981, APSF provides both institutions and high net worth individual investors with value-added, personalized investment advice and account services. Our staff includes experienced analysts, traders, and portfolio managers who are knowledgeable in all areas of the fixed income market. In addition to offering insurance asset management and reporting services, APSF is also extensively involved in the trading and analysis of high yield corporate bonds. We conduct our own proprietary research and have developed a large client base of high net worth individuals and institutional buyers.

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