Standard Management Seeks Additio... ( INDIANAPOLIS March 3 /- Standard ...)

Standard Management Seeks Additional Shares

Date:3/3/2008

INDIANAPOLIS, March 3 /PRNewswire-FirstCall/ -- Standard Management Corporation ("Standard Management" or the "Company") (OTC: SMAN, SMANP), an Indianapolis-based healthcare company, announced today the filing of a 14C Information Statement pursuant to Section 14C of the Securities and Exchange Act of 1934. The board of directors approved an amendment to increase the number of authorized shares of the Company's common stock from 200,000,000 to 300,000,000 shares. In connection therewith, a resolution will be introduced at a special meeting of shareholders to be held at the executive offices of the Company on April 4, 2008.

(Logo: http://www.newscom.com/cgi-bin/prnh/20010416/STANDARDLOGO )

Ronald D. Hunter, Chairman, President and Chief Executive Officer, stated "With the additional shares available, the Company will be positioned to finalize certain ongoing initiatives both in the residential long-term care market through Standard Management and as the managing member of Universal Healthcare Company, LLC". Hunter added, "Universal serves the long-term care sector of healthcare by providing pharmaceuticals to congregate living patients in nursing homes and assisted living facilities."

Mr. Hunter continued, "The investment of time, money and manpower is presenting many opportunities in two of the fastest growing sectors of healthcare. The demographics are definitely in our favor. We remain confident in our ability to achieve the stated goal of which we established at the time we entered the healthcare space."

This press release contains "forward-looking statements" within the meaning of section 27 A of the Securities Act of 1933. The use of the words "believe," "expect," "anticipate," "intend," "may," "estimate," "could," "plans," and other similar expressions, or the negations thereof, generally identify forward-looking statements. Forward-looking
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