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American Physicians Capital, Inc. Completes $15 Million Authorization and Commences $20 Million Authorization Under Stock Repurchase Program
Date:11/26/2007

EAST LANSING, Mich., Nov. 26 /PRNewswire-FirstCall/ -- American Physicians Capital, Inc. (Nasdaq: ACAP) today announced that the Company has completed its $15 million authorization approved by its Board of Directors on May 22, 2007 under its discretionary stock repurchase program, which had approximately $5.5 million remaining as of September 30, 2007. The Company has commenced its stock repurchase authorization totaling $20 million approved by its Board of Directors on August 16, 2007.

"I am pleased that we have been able to invest in our shares at these market levels and we will continue to take advantage of market weaknesses through our repurchase program," stated President and Chief Executive Officer R. Kevin Clinton.

In addition to the discretionary plan, the Company continues to repurchase its common shares under a Board approved stock repurchase plan under Rule 10b5-1 of the Securities Exchange Act of 1934. The Board authorized $32 million towards the repurchase of its common shares pursuant to a 10b5-1 plan for 2007.

Year to date, the Company has repurchased approximately 1.2 million shares utilizing $45.3 million of equity. The Company has the following outstanding share repurchase authorizations:

Type of (In thousands)

Date Approved Repurchase Amount Amount

By Board Plan Authorized Remaining (1)

October 27,2006 Rule 10b5-1 (2) $32,000 $19,468

October 29, 2007 Rule 10b5-1 (3) $20,000 $20,000

May 22, 2007 Discretionary (4) $15,000 COMPLETED

August 16,
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SOURCE American Physicians Capital, Inc.
Copyright©2007 PR Newswire.
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