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United America Indemnity, Ltd. Reports Third Quarter 2007 Results and Share Repurchase Program
Date:10/24/2007

ax - 10,103 - 10,103

Total after-tax

adjustments (400) 9,178 740 9,164

Net income $23,980 $32,089 $72,521 $70,121

Weighted average shares

outstanding - basic 37,229 36,680 37,185 36,637

Weighted average shares

outstanding - diluted 37,521 37,098 37,513 37,090

Operating income per

share - basic $0.65 $0.62 $1.93 $1.66

Operating income per

share - diluted $0.65 $0.62 $1.91 $1.64

Note Regarding Operating Income

In managing its business and evaluating its performance, United America Indemnity's management focuses on operating income (net income excluding after-tax net realized investment gains (losses)) as a more appropriate measure of the operations of the business. Operating income is not a substitute for net income determined in accordance with GAAP, and investors should not place undue reliance on this measure.


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SOURCE United America Indemnity, Ltd.
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