INDIANAPOLIS, June 1 /PRNewswire-FirstCall/ -- Standard Management Corporation (OTC:SMAN) (BULLETIN BOARD: SMAN) an Indianapolis-based provider of pharmaceuticals to the long-term care and infusion therapy markets, announced today the appointment of Brett Flora as its Director of Information Technology. (Logo: http://www.newscom.com/cgi-bin/prnh/20010416/STANDARDLOGO ) Mr. Flora comes to Standard Management with over 17 years experience in Information Technology. Mr. Flora was previously with Cenveo, Inc., one of North America's leading providers of visual communications with one-stop services from design through fulfillment. He was a member of Cenveo's IT leadership team during the acquisition and integration of 120 facilities. According to Ronald D. Hunter, Chairman, President and Chief Executive Officer of Standard Management, "Mr. Flora's experience in consolidating IT platforms for newly acquired independent businesses fits our strategy as we consolidate independent long-term care and infusion therapy companies." "I decided to join the Standard Management team because I believe in the Company's vision and values," stated Mr. Flora. "Significant opportunity only comes through change and I am excited by this opportunity," concluded Mr. Flora. This press release contains "forward-looking statements" within the meaning of section 27 A of the Securities Act of 1933. The use of words "believe", "expect", "anticipate", "intend", "may", "estimate", "could", "plans", and other similar expressions, or the negations thereof, generally identify forward-looking statements. Forward-looking statements in this press release include, without limitation, the performance and growth of our business, potential future acquisitions, and their impact on the Company's performance. These forward-looking statements are subject to known and unknown risks, uncertainties and other factors, which could cause actual results to be materially different from those contemplated by the forward- looking statements. Such factors include, but are not limited the ability of our management team to successfully operate a health services business with limited experience in that industry; our ability to expand our health services both organically and through acquisitions, including our ability to identify suitable acquisition candidates, acquire them at favorable prices and successfully integrate them into our business; general economic conditions and other factors, including prevailing interest rate levels and stock market performance, which may affect our ability to obtain the proposed capital and additional capital when needed and on favorable terms; customer response to new products, distribution channels and marketing initiatives; and increasing competition in the sale of our products. We caution you that, while forward-looking statements reflect our good faith beliefs, these statements are no guarantees of future performance. In addition, we disclaim any obligation to publicly update or revise any forward- looking statement, whether as a result of new information, future events or otherwise, except as required by law. Standard Management is a holding company headquartered in Indianapolis, IN. Information about the Company can be obtained by calling the Investor Relations Department at 317-574-6221 or via the internet at http://www.sman.com/ . http://www.newscom.com/cgi-bin/prnh/20010416/STANDARDLOGO http://photoarchive.ap.org/ DATASOURCE: Standard Management Corporation CONTACT: Michael Berry, Investor Relations of Standard Management Corporation, +1-317-574-2865 Web site: http://www.sman.com/

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