GROUP HAS 5.1 PCT OF AMERICAN PHYSICIANS<AMPH.O>
A group led by Far Hills, N.J.,
investors Natalie and Paul Koether told the Securities and
Exchange Commission it has acquired 299,523 shares of American
Physicians Service Group Inc, or 5.1 pct of the total.
    The Koether group said it bought the stock for 1.0 mln dlrs
for "capital appreciation" and may buy more.
    The group also said Paul Koether met on June 8 with
management representatives for talks that included the
company's business, potential acquisitions for the company,
possible opportunities to expand the company and the
possibility of Koether being named to its board.
    The group did not say whether the talks resulted in any
agreements.
    As they have done in several SEC filings concerning other
companies in which they have had a stake, the Koethers said
they reserve the right "to take any actions which they deem
appropriate to maximize the value of the shares," but said they
have no current plans about taking any action.
    While they may buy more American Physicians shares, the
Koethers also said they may decide to sell some or all of the
their stake in the company.
 Reuter
