2008-08-08 21:32:03 -

- American Independence Corp. (NASDAQ: AMIC) presided over the closing bell at the NASDAQ stock market August 6, marking the company's expansion into individual health insurance.

"Through the acquisition of Independent Producers of America, LLC (IPA), we are now positioned for rapid expansion in the growing market for health plans for individuals and families. At IPA, we are committed

to making health coverage available to Americans who are currently uninsured," said Roy T.K. Thung, chief executive officer and president of AMIC.

"At AMIC, we are striving to become an innovator in providing affordable health insurance solutions. NASDAQ is already recognized as one of the most innovative companies in the world, which makes this the perfect venue for us to welcome a new member to the AMIC family," said Thung. He also thanked IPA leadership and AMIC's loyal shareholders.

Information about the NASDAQ closing bell ceremony and a high-resolution photograph of the AMIC event is available at www.nasdaq.com/reference/200808/market_close_080608.stm

About American Independence Corp. (AMIC)

AMIC, through Independence American Insurance Company and its other subsidiaries, offers health insurance solutions to individuals and employer groups. AMIC provides to the individual and self-employed markets health insurance and related products, which are distributed through its subsidiaries, Independent Producers of America, LLC and healthinsurance.org, LLC. AMIC markets medical stop-loss, small group major medical, and managed care insurance and reinsurance through managing general underwriters, including IndependenceCare Holdings LLC, Marlton Risk Group LLC and Risk Assessment Strategies, Inc.

About Independent Producers of America (IPA)

IPA provides quality health insurance products that are specifically tailored to meet the benefit and budget needs of middle-income America. Products include HSA-qualified high-deductible health plans, major medical insurance, simplified medical issue plans, short-term medical and additional health, life and critical illness products that meet nearly every price point.

About the IHC Group

The IHC Group is an insurance organization composed of Independence Holding Company (NYSE: IHC) and it's operating subsidiaries, (Standard Security Life Insurance Company of New York and Madison National Life Insurance Company, Inc.), its affiliate (American Independence Corp. (NASDAQ: AMIC), and its managing general underwriters, third-party administrators, and marketing affiliates.

Forward-Looking Statements

Certain statements and materials contained in this news release may be considered "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to IHC's and AMIC's views with respect to future events and financial performance. Such forward-looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from historical experience or from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, economic conditions in the markets in which IHC and AMIC operate, new federal or state governmental regulation, and other factors which can be found in IHC's and AMIC's other news releases and filings with the Securities and Exchange Commission.

American Independence Corp.
David Kettig, 212-355-4141