SKP Merrill Lynch

SCPIE Holdings Inc. (NYSE:SKP), a major provider of healthcare liability insurance, today announced that its stockholders have voted FOR the adoption of the merger agreement with The Doctors Company, a leading physician-owned medical malpractice carrier. The votes from SCPIE Holdings Inc.�s March 26, 2008, Special Meeting of Stockholders were certified in a final report by IVS Associates, Inc., the independent inspectors of election. According to the final report, SCPIE stockholders voted approximately 5.9 million shares, or 61.9%, FOR the merger out of a total of approximately 9.6 million outstanding shares eligible to be voted. This fulfilled the requirement that a majority of outstanding shares be voted for the merger in order to be approved. Mitchell S. Karlan MD, Chairman, SCPIE Board of Directors, said, �I would like to thank all stockholders who voted for the merger agreement. It�s gratifying to know that you agreed with the Board�s decision that this was the right move at the right time for our Company.� The merger agreement provides for the purchase of SCPIE for $28.00 per share in cash, or an aggregate purchase price of approximately $281 million. The transaction is subject to the receipt of insurance regulatory approvals. Forward-Looking Statements This news release contains forward-looking statements that involve material risks and uncertainties. Such forward-looking statements, including, but not limited to, statements relating to the consummation of the proposed transaction and the terms and timing thereof, are subject to change based on factors beyond the control of SCPIE. Risks and uncertainties regarding the transaction include the possibility that the closing does not occur, or is delayed, either due to the failure of closing conditions, including the failure to obtain required regulatory approvals, or other reasons. Other factors that may cause actual results to differ from the forward-looking statements contained herein and that may affect the Company�s prospects are included in the Company�s other filings with the SEC. SCPIE expressly disclaims any obligation to publicly release any updates or revisions to any such forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.