Stock Trading History of Herbert Teresa A

The following table details the trading activities (stock purchases, stock sales, and stock option exercises) reported to the Securities and Exchange Commission (SEC) by insider Herbert Teresa A since year 2005. The trader's CIK number is 1213778. At the time of this reporting, Herbert Teresa A is the SVP and CFO of Independence Holding Co (stock ticker symbol IHC).

Stock purchases, sales, and option exercises reported by *Herbert Teresa A* since 2005.
Trade Date	Symbol	Company Name (Issuer)	Trade Type	Shares	Price ($)	Value ($)
2006-12-13	IHC	Independence Holding Co	Option Exercise	16,040	9.39	150,615
2006-12-13	IHC	Independence Holding Co	Sale	11,500	20.10	231,150
2006-12-12	IHC	Independence Holding Co	Sale	400	20.25	8,100
2006-12-11	IHC	Independence Holding Co	Sale	800	20.31	16,250
2006-12-12	IHC	Independence Holding Co	Option Exercise	565	9.39	5,305
2006-12-11	IHC	Independence Holding Co	Option Exercise	1,135	9.39	10,657
2006-12-07	IHC	Independence Holding Co	Sale	500	20.39	10,195
2006-12-07	IHC	Independence Holding Co	Option Exercise	710	9.39	6,666

Insider trading activities including stock purchases, stock sales, and option exercises listed in the above table cannot be completely guaranteed as to their accuracy. For more information regarding the trades made by Herbert Teresa A (SVP and CFO of Independence Holding Co at the time of this reporting) see the Securities and Exchange Commission (SEC) website.