FOR IMMEDIATE RELEASE

LMC Capital LLC Celebrates Two Highly Successful Years of Insurance Investment Banking

Charlotte, North Carolina, May 23, 2006 – LMC Capital LLC, a Charlotte-based boutique investment banking firm focused exclusively on the insurance industry, recently celebrated the second anniversary of the firm’s founding.

Laughton Sherman and his father, Walter Sherman, formed the firm in May 2004 in response to what they saw as a need for highly specialized insurance industry advice on mergers and acquisitions, capital raising, and strategic alternatives.  LMC’s clients include small to mid-sized insurers and brokers as well as some of the largest publicly traded insurers.

In just two years, LMC  has demonstrated a strong success record with the following assignments:

• Advised Sagicor USA, Inc. on its $57.5 million acquisition of American Founders Life, the life insurance operations of Vesta Insurance Group
• Advised the North Carolina Department of Insurance on the $7.5 billion merger of Lincoln National Corp. (NYSE:LNC) and Jefferson Pilot Corporation
• Advised Ebix, Inc. (Nasdaq:EBIX), a leading international developer and supplier of software and e-commerce solutions for the insurance industry, on its acquisition of Infinity Systems Consulting
• Advised DCAP Group, Inc. on a $25 million credit facility for its premium finance operations
• Advised the Indiana Department of Insurance on two separate transactions:  the $280 million acquisition of Forethought Life Insurance Company by FFS Holdings, Inc. and the $79.5 million acquisition of Standard Life Insurance Company by Capital Assurance Corporation

According to Laughton Sherman, “We are very proud of our accomplishments in only two years.  Our employees and advisory board members have served our clients and our firm with the highest standards of excellence, dedication, and integrity. Most importantly, we are grateful to our valued clients.  They entrust us to deliver exceptional value and execution while in pursuit of their vision.”

Walter Sherman added, “We are indeed fortunate to have assembled such a highly qualified and cohesive team of professionals.  We are energized daily by each other’s enthusiasm and the bright future that is clearly ahead of us.”

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