MLAN Midland Co (MM)

The Midland Company Prices One Million Share Common Stock Offering CINCINNATI, Feb. 6 /PRNewswire-FirstCall/ -- The Midland Company , a highly focused provider of specialty insurance products and services, announced today that it has priced an offering of one million shares of common stock after the stock market closed on Thursday, February 5, 2004. The underwriters on the transaction were allotted an additional 150,000 shares. After the final settlement, the Company will receive proceeds rangingfrom approximately $22 to $25 million. The Company will use the net proceeds from the offering to support its future growth and for general corporate purposes. A shelf registration statement relating to these securities has been previously filed with, and declared effective by, the Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state. McDonald Investments, Inc. acted as the sole book running manager and A.G. Edwards and Sons, Inc. acted as the co-manager for the offering. Copies of a prospectus with respect to this offering may be obtained from McDonald Investments, Inc. Prospectus Department, 800 Superior Avenue, Cleveland, Ohio 44114. About the Company Midland, which is headquartered in Cincinnati, Ohio, is aprovider of specialty insurance products and services through its wholly owned subsidiary, American Modern Insurance Group, which accounts for approximately 96 percent of Midland's consolidated revenue. American Modern specializes in writing physical damage insurance and related coverages on manufactured housing and has expanded to other specialty insurance products including coverage for site-built homes, motorcycles, watercraft, snowmobiles, recreational vehicles, physical damage on long-haul trucks, extended service contracts, credit life and related products as well as collateral protection and mortgage fire products sold to financial institutions and their customers. Midland also owns a niche transportation business, M/G Transport Group, which operates a fleet of dry cargo barges for the movement of dry bulk commodities on the inland waterways. Midland's common stock is traded on the Nasdaq National Market under the symbol MLAN. Additional information on the company can be found on the Internet at http://www.midlandcompany.com/ . DATASOURCE: The Midland Company CONTACT: John I. Von Lehman, Executive Vice President and CFO of The Midland Company, +1-513-943-7100 Web site: http://www.midlandcompany.com/

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