American Physicians Capital Announces Stock Buyback Plan

Apr 02, 2001, 01:00 ET from American Physicians Capital, Inc.

    EAST LANSING, Mich., April 2 /PRNewswire/ -- American Physicians Capital,
 Inc. (APCapital) (Nasdaq:   ACAP), a leading medical professional liability
 insurance company, announces that its board of directors approved a stock
 repurchase program authorizing the company to acquire up to 5 percent or
 approximately 600,000 shares of its common stock.  Under this program, the
 company may purchase its stock in the open market or through privately
 negotiated transactions. APCapital currently has approximately 11.6 million
 shares outstanding.
     "A stock buyback program will be part of our multi-faceted approach to
 capital management," commented William B. Cheeseman, president and chief
 executive officer.  "We are committed to an aggressive capital management
 strategy that focuses on supporting profitable internal growth, executing
 successful acquisitions, and now a stock buyback program," he continued.  "We
 believe this coordinated approach is an excellent opportunity to enhance
 shareholder value."
     American Physicians Capital, Inc. is a national provider of medical
 professional liability coverage and workers' compensation, through American
 Physicians Assurance Corporation, formerly Mutual Insurance Corporation Of
 America, and its other subsidiaries.  The group of companies is rated
 A- (Excellent) by A. M. Best and A by Standard & Poor's.  Further information
 about the companies is available on the Internet at www.acaponline.com .
     Forward-Looking Statement: Certain statements made by American Physicians
 Capital, Inc. in this release may constitute forward-looking statements within
 the meaning of the federal securities laws.  While we believe any forward-
 looking statements we have made are reasonable, they are subject to risks and
 uncertainties, and actual results could differ materially.  Readers are
 encouraged to refer to the press release announcing the company's results of
 operations for the quarter and year ended December 31, 2000, issued on
 February 26, 2001, and the risk factors contained therein.
 
 

SOURCE American Physicians Capital, Inc.
    EAST LANSING, Mich., April 2 /PRNewswire/ -- American Physicians Capital,
 Inc. (APCapital) (Nasdaq:   ACAP), a leading medical professional liability
 insurance company, announces that its board of directors approved a stock
 repurchase program authorizing the company to acquire up to 5 percent or
 approximately 600,000 shares of its common stock.  Under this program, the
 company may purchase its stock in the open market or through privately
 negotiated transactions. APCapital currently has approximately 11.6 million
 shares outstanding.
     "A stock buyback program will be part of our multi-faceted approach to
 capital management," commented William B. Cheeseman, president and chief
 executive officer.  "We are committed to an aggressive capital management
 strategy that focuses on supporting profitable internal growth, executing
 successful acquisitions, and now a stock buyback program," he continued.  "We
 believe this coordinated approach is an excellent opportunity to enhance
 shareholder value."
     American Physicians Capital, Inc. is a national provider of medical
 professional liability coverage and workers' compensation, through American
 Physicians Assurance Corporation, formerly Mutual Insurance Corporation Of
 America, and its other subsidiaries.  The group of companies is rated
 A- (Excellent) by A. M. Best and A by Standard & Poor's.  Further information
 about the companies is available on the Internet at www.acaponline.com .
     Forward-Looking Statement: Certain statements made by American Physicians
 Capital, Inc. in this release may constitute forward-looking statements within
 the meaning of the federal securities laws.  While we believe any forward-
 looking statements we have made are reasonable, they are subject to risks and
 uncertainties, and actual results could differ materially.  Readers are
 encouraged to refer to the press release announcing the company's results of
 operations for the quarter and year ended December 31, 2000, issued on
 February 26, 2001, and the risk factors contained therein.
 
 SOURCE  American Physicians Capital, Inc.