On October 15, Atlantic American Corp. announced that on October 13, it received from The NASDAQ Stock Market (NASDAQ) Listing Qualifications Department a letter indicating that the Company had regained compliance with the minimum $1.00 bid price requirement for the continued listing of its common stock on The NASDAQ Global Market, as set forth in NASDAQ Marketplace Rule 5450(a)(1). "We are pleased to have regained compliance with all NASDAQ listing requirements and closing this matter. Now we look forward to focusing on continuing our company's successes and bringing value to our shareholders," said Hilton Howell, Chairman, President and Chief Executive Officer of Atlantic American.

Atlantic American Corp. announced on September 18, 2009 that as part of its previously authorized share repurchase program, management has approved the recommencement of open-market share repurchases under its share repurchase plan. Under current Board of Directors authorizations, the Company has the ability, and currently intends, to repurchase up to approximately 500,000 of its common shares. Such repurchases will be made in accordance with applicable securities laws and other requirements. �The recommencement of share repurchases underscores management�s confidence in the fundamentals of our business, the prospects for continued improvement in our financial performance and the perceived disparity between the trading value and book value of our common stock,� said Hilton Howell, Chairman, President and Chief Executive Officer of Atlantic American. Separately, the Company announced that on September 15, 2009, it received from The NASDAQ Stock Market (NASDAQ) Listing Qualifications Department a Deficiency Letter, indicating that the Company was not in compliance with the minimum $1.00 bid price requirement for the continued listing of its common stock on The NASDAQ Global Market, as set forth in NASDAQ Marketplace Rule 5450(a)(1) (the Minimum Bid Price Rule), because the price of the Company�s common stock did not close at or above the minimum closing bid price of $1.00 per share for a period of 30 consecutive business days. In accordance with NASDAQ Marketplace Rule 5810(c) (3) (A), the Company has 180 calendar days, or until March 15, 2010, to regain compliance with such requirement. If at any time before March 15, 2010, the bid price per share of the Company�s common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, NASDAQ will notify the Company in writing that the Company has achieved compliance with the Minimum Bid Price Rule. If the Company does not regain compliance with the Minimum Bid Price Rule by March 15, 2010, the letter indicates that NASDAQ will notify the Company that the Company�s common stock will be delisted from The NASDAQ Stock Market. At such time, the Company may appeal NASDAQ�s determination to delist the Company�s common stock to a Listings Qualification Panel. Alternatively, in the event that such a delisting determination is based solely on non-compliance with the Minimum Bid Price Rule, the Company may elect to transfer the listing of its common stock to The NASDAQ Capital Market provided that the Company satisfies all criteria for initial listing on such market as set forth in NASDAQ Marketplace Rule 5505, other than compliance with the Minimum Bid Price Rule.

Atlantic American Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2009. The company reported net income of $12,000 or a loss of $0.01 per diluted share for the three month period ended June 30, 2009 compared to net income of $0.8 million or $0.02 per diluted share for the three month period ended June 30, 2008. Total revenues for the three month period ended June 30, 2009 were $25.7 million, increasing 0.5% from the $25.6 million for the three month period ended June 30, 2008. Income from continuing operations was $12,000 or $0.01 per diluted share against $785,000 or $0.02 per diluted share in 2008. Loss from continuing operations before income taxes for the period was $50,000 against income from continuing operations before income taxes was $1.1 million for same period a year ago. For the six month period ended June 30, 2009, net income was $0.3 million compared to a net loss of $1.0 million or $0.08 per diluted share for the comparable period in 2008. Results for the six month period ended June 30, 2008 included a loss from discontinued operations of approximately $2.2 million, or $0.10 per diluted share. For the six month period ended June 30, 2009, revenues were $51.3 million, decreasing 0.3% from the comparable 2008 revenues of $51.5 million. Income from continuing operations was $0.2 million against $1.2 million in 2008. Income from continuing operations before income taxes for the period was $257,000 against $1.8 million for same period a year ago.