Scott K. Billings
Chief Financial Officer
817-348-1600
FORT WORTH, Texas -- November 18, 2003 -- Hallmark Financial Services,
Inc. (Amex: HAF.EC), ("the Company") today announced the resignation
of Timothy A. Bienek as President, Chief Operating Officer and member of the
Board of Directors of the Company. Mr. Bienek's responsibilities will be assumed
by Mark E. Schwarz, Chairman and Chief Executive Officer of the Company.
"Mr. Bienek has made a decision to pursue a different opportunity. We
wish him well in his future endeavors," said Mr. Schwarz. "The Company's
businesses remain in the capable hands of our divisional Presidents who are
delivering much improved performance against business plans developed this past
year," Mr. Schwarz continued.
Hallmark Financial Services, Inc. engages primarily in sale of property and
casualty insurance products. The Company's business involves marketing, underwriting
and premium financing of non-standard personal automobile insurance primarily
in Texas, Arizona and New Mexico, marketing commercial insurance primarily in
Texas, New Mexico, Idaho, Oregon and Washington, third party claims administration,
and other insurance related services. The Company is headquartered in Fort Worth,
Texas and its common stock is listed on the American Stock Exchange under the
symbol "HAF.EC".
Forward-looking statements in this Release are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Act of 1995. Investors
are cautioned that actual results may differ substantially from such forward-looking
statements. Forward-looking statements involve risks and uncertainties including,
but not limited to, continued acceptance of the Company's products and services
in the marketplace, competitive factors, interest rate trends, the availability
of financing, underwriting loss experience and other risks detailed from time
to time in the Company's periodic report filings with the Securities and Exchange
Commission.
For further information, please contact:
Scott K. Billings, Chief Financial Officer at 817.348.1600
www.hallmarkgrp.com
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