Homeowners Choice Completes $40 Million Offering of Senior Notes

Mon Jan 28, 2013 4:01pm EST

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TAMPA, Fla., Jan. 28, 2013 (GLOBE NEWSWIRE) -- Homeowners Choice, Inc. (NYSE:HCI),a Florida-based
insurance holding company, has completed an underwritten public offering of $40,250,000 aggregate
principal amount of 8.00% senior notes due 2020.

The notes will mature on January 30, 2020, and may be redeemed in whole or in part at any time or
from time to time at the company's option on or after January 30, 2016, at a redemption price
equal to the principal amount redeemed plus accrued and unpaid interest. The notes bear interest
at a rate of 8.00% per year, payable quarterly on January 30, April 30, July 30 and October 30 of
each year, beginning April 30, 2013.

Homeowners Choice intends to use the net proceeds from this offering for working capital and
general corporate purposes. The company expects the notes to begin trading on the New York Stock
Exchange under the ticker symbol "HCJ" on January 31, 2013.

Sterne, Agee & Leach, Inc. acted as sole book-running manager for the offering. Wunderlich
Securities, Inc. and Incapital LLC served as co-lead managers and JMP Securities LLC, Gilford
Securities Incorporated, J.J.B. Hilliard, W.L. Lyons, LLC and Maxim Group LLC acted as co-managers
for the offering.

The offering was made pursuant to an effective shelf registration statement filed with the
Securities and Exchange Commission.

About Homeowners Choice

Homeowners Choice, Inc
http://www.globenewswire.com/newsroom/ctr?d=10015218&l=6&a=Homeowners%20Choice%2C%20Inc&u=http%3A%2F%2Fwww.hcpci.com%2F
. is a Florida-based insurance holding company headquartered in Tampa. Through its subsidiary
corporations, Homeowners Choice
http://www.globenewswire.com/newsroom/ctr?d=219855&a=Homeowners%20Choice&u=http%3A%2F%2Fwww.hcpci.com
 provides property and casualty homeowners' insurance, condominium owners' insurance and tenants'
insurance. The company's common shares trade on the New York Stock Exchange under the ticker
symbol "HCI
http://www.globenewswire.com/newsroom/ctr?d=10015218&l=6&a=HCI&u=http%3A%2F%2Fwww.ir-site.com%2Fhcpci%2Fstock.asp
" and are included in the Russell 2000 Index. Its Series A, cumulative redeemable preferred shares
trade on the NASDAQ Capital Market under the ticker symbol "HCIIP
http://www.globenewswire.com/newsroom/ctr?d=10008158&l=6&a=HCIIP&u=http%3A%2F%2Fwww.ir-site.com%2Fhcpci%2Fstock.asp
." More information about Homeowners Choice
http://www.globenewswire.com/newsroom/ctr?d=219855&a=Homeowners%20Choice&u=http%3A%2F%2Fwww.hcpci.com
 is available at www.hcpci.com
http://www.globenewswire.com/newsroom/ctr?d=10019569&l=7&a=www.hcpci.com&u=http%3A%2F%2Fwww.hcpci.com%2F
.

The Homeowners Choice, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6712
http://www.globenewswire.com/newsroom/ctr?d=10019569&l=8&u=http%3A%2F%2Fwww.globenewswire.com%2Fnewsroom%2Fprs%2F%3Fpkgid%3D6712

CONTACT: Company Contact:
         Jay Madhu, V.P. of Investor Relations
         Homeowners Choice, Inc.
         Tel (813) 405-3660
         jmadhu@hcpci.com
         
         Investor Relations Contact:
         Matt Glover or Michael Koehler
         Liolios Group, Inc.
         Tel (949) 574-3860
         hci@liolios.com
         
         Media Contact:
         Suzie Boland
         RFB Communications Group
         Tel (813) 259-0345
         sboland@rfbcommunications.com

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