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Standard Management Signs Stock and Real Estate Purchase Agreement
Date:11/16/2007

INDIANAPOLIS, Nov. 16 /PRNewswire-FirstCall/ -- Standard Management Corporation ("Standard Management" or the "Company") (OTC Bulletin Board: SMAN), an Indianapolis-based company, provides through Universal Healthcare Company, LLC ("Universal" or "UHCC") pharmaceuticals to the long-term care and infusion therapy sector of the healthcare industry, today announced the signing of a definitive stock purchase agreement to sell its specialty pharmacy, Precision Healthcare of Nashville, Tennessee, and a parcel of undeveloped real estate to the Schmidt Family Trust of Henderson, Nevada.

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

Chairman, President and Chief Executive Officer, Ronald D. Hunter, stated "The transaction allows Standard Management to further enhance its balance sheet by eliminating approximately $3 million in debt and liabilities."

Mr. Hunter continued, "The Company through UHCC is focusing on larger institutional pharmacies that are more of a pure play in the long term care market with skilled nursing facilities and assisted living facilities."

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 statements in this press release include, without limitation, the ability of the Company to address the factors sighted by our independent auditors as a basis for their qualified audit opinion, the performance and growth of our business, potential future acquisitions, and their impact on the Company's performance. These forward- looking statements are subject to known and unknown risks, uncertainties and other factors, which could cause actu
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SOURCE Standard Management Corporation
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