Unico AmericanCorp. on April 4 said its board authorized a review of strategicalternatives for the company.

The board has established a special committee consisting entirelyof independent directors to oversee the review of strategic alternatives andpotential opportunities. Willis Capital Markets & Advisory has beenretained as exclusive financial adviser to the special committee.

The company does not plan to make any further statementsregarding the process unless and until a definitive agreement has been reachedor until the process of exploring strategic alternatives has ended.

Unico has conducted the majority of its operations throughsubsidiary Crusader Insurance Co.since 1985.