SOURCE: American Physicians Service Group, Inc.

April 02, 2007 08:30 ET

Norris C. Knight, M.D. and William J. Peche, M.D. Appointed to APS Board of Directors

AUSTIN, TX -- (MARKET WIRE) -- April 2, 2007 -- American Physicians Service Group, Inc. ("APS") (NASDAQ: AMPH) today announced that Norris C. Knight, M.D. and William J. Peche, M.D. were appointed by the Company's directors to its Board of Directors following its acquisition of American Physicians Insurance Exchange ("APIE").

Dr. Knight has been in the private practice of Orthopedic Surgery since 1965 in Texarkana, Texas. He is a member of the Texas Orthopedic Association, American College of Surgeons, American Academy of Orthopedic Surgery and certified by the American Board of Orthopedic Surgeons. Dr. Knight is a staff member of Christus St. Michael's Health System and Wadley Regional Medical Center in Texarkana.

Dr. Knight was a member of the APIE Board of Directors from 1978 until its recent merger with APS. He served as Chairman of the APIE Board from 1998 to 2004 and again from 2005 to present.

Dr. Peche is in private practice in San Antonio, Texas, with a specialty in Obstetrics and Gynecology. He has served as Chairman of the Ob-Gyn department at Santa Rosa General Hospital and North Central Baptist Hospital. He is a member of the Bexar County Medical Society, Texas Medical Association and San Antonio Ob-Gyn Society. Dr. Peche is a founder of APIE and has served as a member of its Board of Directors since its formation in 1975. He served as Chairman of the Board from 1992 to 1995 and as Vice Chairman from 1997 to 2001 and from 2005 to present.

APS' Chairman of the Board Ken Shifrin commented, "As we enter a new era of growth in the physicians malpractice insurance aspect of our business, following our recently announced acquisition of APIE, I couldn't ask for two more knowledgeable and experienced individuals to join our Board. Dr. Knight has been the tireless leader of the APIE board during our effort to complete this merger. Dr. Peche has committed his effort on behalf of this company for over thirty years. They bring unparalleled expertise in the business of physicians malpractice, but maybe more importantly, they bring the insight that only doctors can have in providing the 'doctors serving doctors' philosophy that had been the guiding principle of APIE and to which we are equally dedicated. We welcome them to the board."

Mr. Shifrin continued, "We also welcome the remaining APIE board members as Advisory Board members. The Advisory Directors bring a diverse background of medical malpractice experience gained from their years of guiding APIE. We could not be better served and we look forward to continuing this relationship."

APS is a management and financial services firm with subsidiaries and affiliates which 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.

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.

Contact Information

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

    Mr. Kenneth Shifrin
    Chairman of the Board
    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