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SMC COMPLETES REGULATION S OFFERING

 INDIANAPOLIS, Jan. 14 /PRNewswire/ -- Standard Management Corporation ("SMC") (NASDAQ: SMAN) announced today the completion of its Regulation S (the "Offering") totaling $9.8 million.
 On December 17, 1993, SMC announced an Offering of its common stock for up to $8 million. Ronald D. Hunter, chairman of the board and CEO for SMC, stated, "Internal growth and acquisition opportunities prompted the Board of Directors of SMC to authorize an increase in the Offering of up to 1,666,667 shares of SMC stock."
 A portion of the proceeds from the Offering was utilized to close the acquisition of Target International Management S.A. ("TIMSA"), a Luxembourg holding company, with approximately $127 million in assets.
 Additional proceeds from the Offering are being used to infuse capital into Standard Life Insurance Company of Indiana ("Standard Life"), a wholly owned subsidiary of SMC, to position Standard Life to continue its targeted growth.
 At September 30, 1993, SMC had $30.8 million in shareholders' equity, representing $8.36 book value per share. On a pro forma basis, as if the Offering had taken place on September 30, 1993, SMC would have had $39.8 million in shareholders' equity and a book value of $7.42 per share.
 -0- 1/14/94
 /CONTACT: Norman W. Wilkens, Public Relations, of Standard Advertising, Inc., 317-574-5221, for Standard Management Corporation/
 (SMAN)


CO: Standard Management Corporation ST: Indiana IN: INS SU: OFR

KL -- CL010 -- 1258 01/14/94 14:25 EST
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Publication:PR Newswire
Date:Jan 14, 1994
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