MLAN Midland Co (MM)

The Midland Company Files Registration Statements - Files Shelf Registration on Behalf of Certain Shareholders CINCINNATI, May 10 /PRNewswire-FirstCall/ -- The Midland Company , a highly focused provider of specialty insurance products and services, today announced that it has filed two registration statements with the Securities and Exchange Commission. One registration statement, filed as a shelf registration, registers 1,600,000 shares of Midland's common stock owned by Robert W. Hayden and Michael J. Conaton. Messrs. Hayden and Conaton are retired executives and do not actively participate in the management of the company. Both individuals are currently serving on the company's Board of Directors. The registration of these shares is part of each individual's estate planning and investment diversification activities. In each case, the registered shares represent only a portion of the shares owned by the individual. Midland will not receive any proceeds from the sale of these shares and the offering will not increase the number of shares outstanding. Upon effectiveness of the registration statement, the shareholders may sell the securities in one or more separate offerings in amounts, at prices and on terms to be determined at the time of sale. If and when the shareholders offer any securities under the registration statement, a prospectus supplement that includes the specific terms of the securities being offered will be made available. The other registration statement registers 50,000 shares of Midland's common stock to be offered through the newly formed Midland Company Agent Stock Acquisition Program. This program was proposed and approved by shareholders at the April 2004 Shareholders' Meeting. The program allows the company's insurance producing business partners to purchase the company's stock at a price discounted from the market price. Registration statements relating to these securities have been filed with the Securities and Exchange Commission but have not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the applicable registration statement becomes effective. 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. About the Company Midland, which is headquartered in Cincinnati, Ohio, is a provider 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, excess and surplus lines coverages, 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/ . Forward Looking Statements Disclosure Certain statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of the Securities Litigation Reform Act of 1995. These statements include certain discussions relating to underwriting, premium and investment income volume, business strategies, profitability and business relationships, as well as any other statements concerning the year 2004 and beyond. The forward-looking statements involve risks, uncertainties and other factors that may cause results to differ materially from those anticipated in those statements. Factors that might cause results to differ from those anticipated include, without limitation, adverse weather conditions, changes in underwriting results affected by adverse economic conditions, fluctuations in the investment markets, changes in the retail marketplace, changes in the laws or regulations affecting the operations of the company or its subsidiaries, changes in the business tactics or strategies of the company, its subsidiaries or its current or anticipated business partners, the financial condition of the company's business partners, acquisitions or divestitures, changes in market forces, litigation and the other risk factors that have been identified in the company's filings with the SEC, any one of which might materially affect the operations of the company or its subsidiaries. Any forward-looking statements speak only as of the date made. We undertake no obligation to update any forward-looking statements to reflect events or circumstances arising after the date on which they are made. 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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