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Mobile America Corp. Announces Payment of $.11 Per Share Dividend

8 January 1999

Mobile America Corp. Announces Payment of $.11 Per Share Dividend on Its $.025 Par Value Common Stock

    JACKSONVILLE, Fla.--Jan. 7, 1999--Mobile America Corp. is pleased to announce the payment of $.11 per share dividend on its $.025 par value common stock to shareholders of record at Jan. 8, 1999 payable on Feb. 5, 1999.
    The company's policy as to dividend payment is to review its earnings and cash requirements and pay a dividend based on these and other factors. Shareholders should not rely on any schedule or consistency concerning the company's dividend policy.
    The dividend payment schedule for 1985 through 1998 was as follows (adjusted for stock splits and stock dividends):

Date of Dividend            Amount
  3/20/85                .01 per share
  1/25/86                .03 per share
  1/20/87                .05 per share
  1/29/88                .07 per share
  1/25/89                .11 per share
  1/24/90                .18 per share
  1/24/91                .22 per share
  1/24/92                .26 per share 
  9/10/92                .09 per share
  1/29/93                .29 per share
  9/10/93                .09 per share
  1/28/94                .18 per share
  2/03/95                .16 per share
  1/24/96                .30 per share
  1/27/97                .35 per share
  2/03/98                .35 per share

    The company has a number of "lost" shareholders for which mail is consistently returned to the company. If any present shareholder, stockbroker or other party knows of any shareholder who may have moved or otherwise have become unavailable, the company would appreciate knowing of their present whereabouts so they may receive their rightful dividend payments and the quarterly reports as to the company's operations and financial progress.
    There are a number of shareholders who hold less than 100 shares and as such are hampered if they desire to sell those shares because of the minimum broker's commission required. In an effort to assist these small shareholders, the company will purchase any such odd lot amounts that are 100 shares or less at the then current high bid without any commission charge. The company will benefit to the extent that the processing of small shareholder accounts will be eliminated along with the attendant high cost. To avail yourself of this service, contact either Lena Purcell, 904/363-6339, ext. 2311 or Tom Stinson, 904/363-6339, ext. 2319.