A.M. Best Places Ratings of SCPIE Holdings Inc. Under Review With Developing Implications.

OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating (FSR) of B+ (Good) and issuer credit ratings (ICR) of "bbb-" of SCPIE Companies (SCPIE) and its three pooled members, which are led by SCPIE Indemnity Company, under review with developing implications. Concurrently, A.M. Best has placed the ICR of "bb-" of SCPIE's publicly traded parent, SCPIE Holdings Inc. [NYSE: SKP], under review with developing implications. All the above named companies are located in Los Angeles, CA. (See below for a detailed listing of the companies and ratings.)

These rating actions follow the recent announcement that SCPIE Holdings Inc. has entered into a definitive agreement to be acquired by The Doctors Company, An Interinsurance Exchange (The Doctors Company) (Napa, CA) for an aggregate purchase price of approximately $281 million in an all cash transaction.

The under review status takes into consideration the impending change in ownership and the uncertainties that exist regarding the long-term strategic implications for SCPIE following this transaction.

The ratings will remain under review pending the close of the transaction, which is expected in the first half of 2008 and A.M. Best's discussions with The Doctors Company management regarding post transaction operating plans of SCPIE under the new ownership structure. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals, and approval by a majority of SCPIE Holdings Inc.'s stockholders.

The FSR of B+ (Good) and the ICRs of "bbb-" have been placed under review with developing implications for the SCPIE Companies and its following members:

* SCPIE Indemnity Company

* American Healthcare Indemnity Company

* American Healthcare Specialty Insurance Company

For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.

Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.