Financial Industries Corporation Announces Merger With Americo

* Reuters is not responsible for the content in this press release.

Tue Jan 15, 2008 8:01am EST 

  AUSTIN, TX, Jan 15 (MARKET WIRE) -- 
 Financial Industries Corporation (PINKSHEETS: FNIN) and Americo Life,
Inc. announced today they have entered into an agreement and plan of merger
pursuant to which Americo will acquire FIC.

    Under the terms of the agreement, FIC shareholders will receive $7.25 per
share in cash, which represents a 30.6 percent premium over the previous day's
closing price. The total transaction is valued at $74.7 million.

    The merger is subject to customary closing conditions, including shareholder
and
regulatory approvals, and is expected to close in the second quarter of this
year.

    FIC, through its Investors Life Insurance Company of North America
subsidiary,
markets and underwrites individual life insurance products. For more
information on FIC, go to http://www.ficgroup.com on the Internet.

    Statements in this document relating to future developments, disclosures and
other
statements that are not historical facts are forward-looking statements. Actual
results
may differ materially from these forward-looking statements as a result of
market
conditions, the timing and results of FIC's audits, reviews and filings with
regulatory bodies, the interest of and actions by third parties engaging in
transactions with FIC and other factors contained in FIC's Form 10-K for the
year ended Dec. 31, 2006, and other filings with the SEC.

    

Contact Information:
Financial Industries Corporation
Shannon Coffin
Phone:  512-404-5550
E-mail:  ir@ficgroup.com

Copyright 2008, Market Wire, All rights reserved.

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