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OHLSON NAMED TO STANDARD MANAGEMENT CORPORATION BOARD

 INDIANAPOLIS, Dec. 13 /PRNewswire/ -- Raymond J. Ohlson, CLU, has been named to the board of directors of Standard Management Corporation ("SMC") (NASDAQ: SMAN), according to an announcement made today by Ronald D. Hunter, chairman of the board and CEO of SMC.
 Ohlson was named president of Standard Life Insurance Company of Indiana, a wholly owned subsidiary of SMC, in June of this year. He is also president and director of Standard Marketing Corporation, also a subsidiary of SMC, maintaining those positions since August 1991.
 Ohlson, who entered the life insurance business in 1971, has an extensive background in administration, management and marketing. He earned his Charter Life Underwriters designation in 1980, and he is a Life Member of the Million Dollar Round Table.
 A native of Indianapolis, Ohlson was graduated from Ball State University in Muncie, Ind. He is married and the father of three children.
 The addition of Ohlson to the SMC board brings to eight the number of board members and serves as a pivotal move in the continuing positioning of the corporation with a strong emphasis on marketing new insurance products, Hunter related. "We view Ohlson's addition to the SMC board as a strong commitment to future growth for our policyholders as well as shareholders. Ray Ohlson brings to the board a varied background and vast knowledge of the insurance industry, and we are pleased to have his talents for leadership available to us," he said.
 -0- 12/13/93
 /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 -- CL007 -- 3074 12/13/93 10:04 EST
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Publication:PR Newswire
Date:Dec 13, 1993
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