<PAGE> 1
Exhibit 99
Contacts:
David M. Howard
President and CEO Gene Marbach
Christopher P. Breakiron Vice President
Chief Financial Officer Makovsky & Company
Insurance Management Solutions Group, Inc. (212) 508-9600
(877) 711-4674
INSURANCE MANAGEMENT SOLUTIONS GROUP ANNOUNCES
PENDING DELISTING OF COMMON STOCK BY NASDAQ
ST. PETERSBURG, Florida, November 29, 2000 - Insurance Management
Solutions Group, Inc. (Nasdaq: INMG), a leading provider of business process
outsourcing ("BPO") solutions serving insurance companies and financial
institutions (the "Company"), today announced that it has received notification
from The Nasdaq Stock Market that the Company's common stock will be delisted
from trading on the Nasdaq National Market at the opening of business on
February 22, 2001. Such notification indicated that this action is being taken
by Nasdaq as a result of the failure of the Company's common stock to satisfy
the maintenance criteria for continued listing on the Nasdaq National Market.
Based upon information presently available to the Company, including the current
minimum bid price for the Company's common stock, the Company does not believe
it will have grounds to contest such delisting.
David M. Howard, the Company's President and Chief Executive Officer,
commented, "In light of the notification of delisting received from Nasdaq, the
Company will explore other opportunities to provide a liquid market for its
common stock, including possible trading in the over-the-counter (OTC) market."
Insurance Management Solutions Group, Inc. (www.outsourceimsg.com),
including its subsidiaries, is a provider of business process outsourcing
solutions serving insurance companies and financial institutions nationwide. The
Company offers a complete menu of policy and claims administration services as
well as financial and statistical reporting, flood hazard determinations,
training, and marketing support.
Certain statements contained in this press release, including
statements regarding the pending delisting of the Company's common stock from
trading on the Nasdaq National Market and the potential for future trading on
the OTC market, and the statements contained herein regarding matters that are
not historical facts, are "forward-looking" statements (as such term is defined
in the Private Securities Litigation Reform Act of 1995). Because such
statements are subject to risks and uncertainties, actual results may differ
materially from those expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially from those
expressed or implied by such forward-looking statements include, but are not
limited to, changes in the market price of the Company's common stock, and
difficulties in obtaining or retaining market makers for the Company's common
stock.
