21st Century Holding Company Completes Acquisition Of American Vehicle Insurance Company

PLANTATION, Fla., Aug. 27 21st Century Holding Company , a vertically integrated financial
service holding company, announced today that the Florida Department of
Insurance approved its application to acquire American Vehicle Insurance
Company and that 21st Century Holding Company has now completed the
acquisition.
Edward J. Lawson, President of 21st Century Holding Company, stated, "We
can now advance with our strategic relationship with Transatlantic Reinsurance
Company to jointly develop non-standard automobile programs across the United
States. We have already agreed to start a program in Florida that will be
100% reinsured by Transatlantic. We expect that this program will be up and
running within 30 days and we plan to have at least one other program up and
running in another state within the next 6 months."
Mr. Lawson continued, "American Vehicle was acquired for $500,000 cash and
will be immediately accretive to earnings. Initial surplus for American
Vehicle will be approximately $3,000,000, after 21st Century contributes an
additional $1,000,000 to bring the surplus up to the capital requirements of
the Florida Department of Insurance.
"This transaction now gives us two insurance companies that will solidify
our future and allow us to take advantage of strategic relationships current
and developing."
21st Century Holding Company manages its insurance underwriting,
distribution and claims process through its subsidiaries.
* The Company underwrites standard and non-standard personal automobile
insurance and mobile home, property and casualty insurance in the state of
Florida through its subsidiary, Federated National Insurance Company.
* The Company has underwriting authority for third-party insurance
companies, which it represents through a wholly owned managing general agent,
Assurance Managing General Agents, Inc.
* Claims made by Federated National's insureds are internally processed
by a wholly owned claims adjusting company, Superior Adjusting, Inc.
* The Company offers premium financing to its own and third party
insureds through a wholly owned subsidiary, Federated Premium Finance, Inc.
* Express Tax Service, Inc., an 80% owned subsidiary, licenses its brand
name and its software to retail tax preparers and over the Internet .
* The Company offers other ancillary services including electronic income
tax filing, tax preparation and tag & title transfer services through
Federated Agency Group, Inc., also a wholly owned subsidiary.
* Fed USA, Inc., a wholly owned franchiser company, offers single and
master franchise opportunities to individuals to own and operate their own
business with the support of two brands, Fed USA Insurance and Financial
Services and Express Tax.

Certain matters described in this report are forward-looking statements
and are subject to risk and uncertainties that could cause actual results to
differ materially from those projected.

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