updated 4/26/2011 4:47:21 PM ET 2011-04-26T20:47:21

CLEARWATER, Fla., April 26, 2011 (GLOBE NEWSWIRE) -- Homeowners Choice, Inc. (Nasdaq:HCII), a Florida-based insurance holding company, today announced that its board of directors has declared cash dividends on both its common and preferred shares.

On the common shares (" HCII "), the board of directors declared a regular quarterly cash dividend in the amount of 10 cents per share to be paid June 17, 2011 to shareholders of record at the close of business May 20, 2011.

On the company's recently issued Series A 7% convertible preferred shares ("HCIIP"), the board of directors declared a cash dividend in the amount of 12.8 cents per share for the initial period from the issuance date, March 25, 2011, through May 31, 2011 to be paid June 27, 2011 to shareholders of record at the close of business June 1, 2011.

The company previously announced its Annual Meeting of Shareholders to be held on May 25, 2011 at its offices in Tampa, Fla. at 3 p.m. Shareholders will be admitted beginning at 2:30 p.m.

About Homeowners Choice, Inc.

Homeowners Choice, Inc. is a Florida-based insurance holding company headquartered in Clearwater. Through its subsidiary corporations, Homeowners Choice provides property and casualty homeowners' insurance, condominium owners' insurance and tenants' insurance. Founded in 2006, Homeowners Choice today serves approximately 65,000 policyholders throughout Florida representing approximately $135 million in annualized premiums. The company's common shares trade on the NASDAQ Global Select Market under the ticker symbol HCII and are included in the Russell Microcap Index. Its warrants trade on the same market under the ticker symbol HCIIW. Its Series A 7% preferred shares trade on the NASDAQ Capital Market under the ticker symbol HCIIP. More information about Homeowners Choice, Inc. is available at www.hcpci.com .

The Homeowners Choice, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=6712

CONTACT: Media Contact:
         Suzie Boland
         RFB Communications Group
         813.259.0345
         sboland@rfbcommunications.com
         
         Investor Relations Contact:
         Jay Madhu
         Homeowners Choice, Inc.
         727.213.3660
         jmadhu@hcpci.com

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