Ceres Group Reports Third Quarter 2005 Results and Updates 2005 Earnings Guidance.

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Ceres Group Reports Third Quarter 2005 Results and Updates 2005 Earnings Guidance.

CLEVELAND -- Ceres Group, Inc. (NASDAQ:CERG):

For the quarter:

-- Net income of $3.4 million ($0.10 per share)

-- Senior Segment pre-tax income of $3.5 million

-- Medical Segment pre-tax income of $0.9 million

For the nine months:

-- Net income of $13.0 million ($0.37 per share)

-- Senior Segment pre-tax income of $11.0 million

-- Medical Segment pre-tax income of $7.4 million

Ceres Group, Inc. (NASDAQ:CERG) today reported net income of $3.4 million ($0.10 per share), for the third quarter of 2005, including $0.5 million ($0.01 per share) from net realized investment gains and a $0.8 million ($0.02 per share) federal income tax benefit related to the reduction of federal income tax reserves with respect to recently closed tax years. This compares to net income of $5.4 million ($0.16 per share) for the third quarter of 2004, including $0.1 million from net...

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