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                                                                     EXHIBIT 99


FOR IMMEDIATE RELEASE

Contacts:

David K. Meehan                                         John D. Lovallo
Chairman and Chief Executive Officer                    Senior Vice President
Jeffrey S. Bragg                                        John D. Menditto
Executive Vice President and Chief Operating Officer    Senior Account Executive
Insurance Management Solutions Group                    Makovsky & Company
(877) 711-4674                                          (212) 508-9600


                     INSURANCE MANAGEMENT SOLUTIONS GROUP
                         ANNOUNCES MANAGEMENT CHANGES

         ST. PETERSBURG, Florida, August 19, 1999 -- Insurance Management
Solutions Group, Inc. (Nasdaq: INMG), a business process outsourcing provider
serving insurance companies and financial institutions throughout the U.S.,
today announced it has appointed David M. Howard, President. David K. Meehan,
who formerly held the title of President, remains Chairman and Chief Executive
Officer. In addition, the Company announced that Kelly K. King, Chief Financial
Officer, has decided to leave IMSG to pursue personal interests.

         Mr. Howard, 37, joins IMSG from Bankers Insurance Group, Inc. (BIG),
where he spent the past 11 years in positions of increasing importance,
including president and chief executive officer of their highly-technical
Bankers Hazard Determination Services, which was national in scope. Under his
leadership, the company's financial customer base, revenues and operating
income were enhanced substantially over a six-year period. Most recently, David
has served as senior vice president and chief marketing officer of Bankers
Insurance Group.

         Prior to that, he spent several years as an officer in the United
States military. David is active in industry organizations and is a member of
the Council of Company Executives Officers (CCEO). Mr. Howard will report
directly to David K. Meehan. Mr. Howard is a graduate of Central Michigan
University.


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         David K. Meehan stated, "We are extremely pleased to add a talent like
David to our management team. His experience at Bankers Insurance Group will be
a vital asset to the growth of IMSG, as he was a key element in Bankers
significant expansion throughout the U.S." Mr. Meehan continued, "Utilizing his
technical and operational expertise, David's responsibilities at IMSG will
include enhancing operational efficiencies within the company, expediting our
sales process and building long-term strategic relationships that will drive
earnings improvement."

         Christopher Breakiron, Vice President and Controller will aid in the
chief financial officer duties until a permanent successor for Kelly King is
appointed. Mr. Meehan commented, "Although we are sad to see Kelly leave, we
wish him well in his future endeavors. Kelly has played an important role in
the development of IMSG, particularly during our initial public offering."

         Insurance Management Solutions Group, Inc., (www.outsourceimsg.com),
including its subsidiaries, offers comprehensive outsourcing solutions
including policy and claim administration services as well as financial and
statistical reporting, flood and hazard determinations, training, and marketing
support.

Certain statements contained in this press release, including statements
regarding the anticipated development and expansion of the Company's business,
the intent, belief or current expectations of the Company, its directors or its
officers, primarily with respect to the future operating performance of the
Company, and other statements contained herein regarding matters that are not
historical facts, are "forward-looking" statements (as such term is defined in
the Private Securities Litigation Reform Act of 1995). Because such statements
are subject to risks and uncertainties, actual results may differ materially
from those expressed or implied by such foward-looking statements. Factors
that could cause actual results to differ materially from those expressed or
implied by such forward-looking statements include, but are not limited to
uncertainties regarding the market, acceptance of the Company's new services,
difficulties inherent in locating suitable acquisition candidates and
consummating acquisitions, difficulties in obtaining new customers and
retaining existing customers, difficulties in achieving expected expense
reductions as a result of management initiatives, difficulties in determining
the potential success of new sales and marketing personnel, and those risks and
uncertainties discussed in filings made by the Company with the Securities and
Exchange Commission, including those risks and uncertainties contained under
the heading "Risk Factors" in the Company's Registration Statement on Form S-1
as filed with the Securities and Exchange Commission.

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