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STANDARD MANAGEMENT CORPORATION NAMES NEW BOARD MEMBERS

 INDIANAPOLIS, Nov. 29 /PRNewswire/ -- John J. Quinn and James C. Lanshe have been elected to the board of directors of Standard Management Corporation ("SMC" and the "Company") (NASDAQ: SMAN), according to an announcement made today by Ronald D. Hunter, chairman of the board and CEO of the insurance holding company.
 Both elections were made official during the third quarter of the company's calendar year.
 Prior to joining SMC on June 15, 1993 as chief financial officer, Quinn was chairman of the Insurance Industry Practice in Indiana for Ernst & Young. The insurance industry is one of the largest practices in Ernst & Young's Indiana offices. Quinn began his career with Ernst & Young in the Indianapolis office in 1969 and became a partner in 1981.
 A graduate of the University of Notre Dame with a B.B.A. cum laude in 1969, Quinn completed Ernst & Young's executive program at Kellogg Graduate School of Management (Northwestern University) in 1988. He received his CPA classification in 1972, his Fellow of the Life Management Institute in 1975, and his CLU designation in 1982.
 Lanshe presently is serving as chairman of RealAmerica Co. in Lexington, Ky.; chairman of Bitmore Trust Co., a subsidiary of RealAmerica Co., in Phoenix; and CEO of Norcross Securities, Inc., in Phoenix. He was a partner in the law firm of Greenbaum Boone Treitz Maggiolo & Brown in Louisville, Ky., and taught at the University of Louisville School of Law for two years.
 Lanshe received his A.B. Degree with Distinction from Georgetown University in Washington, D.C.; a J.D. from Cornell University Law School in Ithaca, N.Y.; and an M.P.A. from Harvard University in Cambridge, Mass.
 In making the announcement, Hunter referred to the quality of professionalism exhibited by both men. "We are delighted to be able to attract men of this caliber to our Board of Directors. Their technical knowledge of the insurance industry and their talents for leadership are recognized throughout the country," he stated.
 -0- 11/29/93
 /CONTACT: Norman W. Wilkens, public relations, of Standard Management Corporation, 317-574-5221/
 (SMAN)


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

BM -- CL006 -- 8153 11/29/93 09:13 EST
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Publication:PR Newswire
Date:Nov 29, 1993
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