NEWS RELEASE





Media Contact: Alan G. Symons              Analyst Contact:    Don Franz
               CEO                                             Advest, Inc.
               (317) 259-6302                                  (212) 584-4143
                                                               Joanne Smith
                                                               Mesirow Financial
                                                               (914) 669-5680

FOR IMMEDIATE RELEASE

                        SYMONS INTERNATIONAL GROUP, INC.
                  ANNOUNCES NONSTANDARD AUTOMOBILE ACQUISITION
 

Indianapolis,   Indiana  (July  ,  1997)  -  Symons  International  Group,  Inc.
(NASDAQ/NM:  SIGC)  a  leading  provider  of  crop  and  nonstandard  automobile
insurance, today announces today announces that it has completed the acquisition
of the remaining 48% interest in its nonstandard  automobile  insurance business
formerly owned by investment  funds  affiliated with Goldman Sachs & Co. and has
also completed the $135,000,000 Offering of Trust Preferred Securities.

The Company today  announces that it has  successfully  closed its  $135,000,000
Offering of Trust Preferred  Securities.  The 30 year Trust Preferred Securities
carry a 9.5% coupon and are initially callable in 2007.

"We chose the Trust Preferred Securities, which are a unique 30-year instrument,
in that they afford the Company the ability to defer  payment of interest for up
to 5 years in kind.  These  instruments  have  received  broad  acceptance  with
investment grade financial  institutions in that the rating  authorities give it
partial equity credit when examining an issuer's pro forma capitalization of the
obligations which support the Trust Preferred Securities. Once the equity credit
is granted as a result of the Trust Preferred Securities limited covenants,  the
issuer's  ability to defer  payment of interest for up to 5 years and the length
of the instrument." says Company CEO, Alan G. Symons.

The proceeds of the Company's  issuance of Trust Preferred  Securities were used
to (i)  purchase  the  remaining  48% of the  Company's  nonstandard  automobile
insurance  business  formerly owned by investment funds affiliated with Goldman;
Sachs & Co.; (ii) to liquidate the Company's term bank debt  initially  incurred
in March 1996;  (iii) to pay the expenses of the Offering;  and (iv) provide the
Company with  approximately  $25,000,000  of  additional  working  capital.  The
Company's  Offering of Trust  Preferred  Securities  was well  received  and was
oversubscribed by a ratio of 2 to 1.

Symons  International  Group, Inc.  (NASDAQ:  SIGC) of Indianapolis is primarily
engaged in the nonstandard  automobile and crop insurance business and maintains
active business licenses in 35 U.S. states.

                 Anyone wishing further information may contact:
                                 Alan G. Symons
                             Chief Executive Officer
                                  317 259-6300