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THE SEIBELS BRUCE GROUP, INC. AND PMSC ANNOUNCE BOARD CHANGES

 COLUMBIA, S.C., Jan. 7 /PRNewswire/ -- The Seibels Bruce Group, Inc. (NASDAQ-NMS: SBIG) and Policy Management Systems Corporation (PMSC) (NYSE: PMS) announced today that Sterling E. Beale, chairman of the board, chief executive officer, and treasurer of The Seibels Bruce Group, Inc., has recently resigned from the PMSC board of directors and G. Larry Wilson, chairman of the board and president of PMSC, has recently resigned from the Seibels board to avoid a potential conflict of interest.
 Such a potential conflict of interest will arise concerning the upcoming bidding process for the South Carolina Reinsurance Facility Designated Agent servicing carrier contracts. Seibels is bidding directly and PMSC is participating by offering its services as a major sub-contractor with several insurance companies that are bidding on these contracts.
 Mr. Beale made the following statement: "I wish PMSC and Larry Wilson every success in the world -- except with respect to the upcoming bid. I did not want to resign from the PMSC board, nor did I want Larry Wilson to resign from ours. Nevertheless, it was the correct and necessary thing to do. PMSC is my second favorite company, but Seibels is my first. I have every confidence in PMSC and in their future success and growth. I will miss being a part of that future as a director, but I look forward to our continued business relationship."
 Mr. Wilson said, "We will miss having Sterling Beale on our board, and I regret having to resign from the Seibels board. I have been associated with Seibels for over 27 years, and it has been a very rewarding relationship. Seibels was PMSC's first customer. They remain an important customer and recently renewed their outsourcing contract for the third time. It is very clear to me that both companies contributed to and received from the other. It has been, and I expect it to continue to be, a win-win situation."
 -0- 1/7/94
 /CONTACT: Terry Fields of Seibels, Bruce & Company, 803-748-2742, or Jim O'Brien of Manning, Selvage & Lee, 212-213-7005/
 (SBIG PMS)


CO: Seibels Bruce Group, Inc.; Policy Management Systems Corporation ST: South Carolina IN: INS SU: PER

CK -- NY058 -- 0285 01/07/94 17:14 EST
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Publication:PR Newswire
Date:Jan 7, 1994
Words:363
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