PICO Holdings Inc. announced that its Board of Directors has appointed Howard Brod Brownstein and Raymond V. Marino II as independent directors. Mr. Brownstein brings to the PICO Board a broad financial and management consulting background, including extensive experience in finance, restructurings and turnarounds, strategic planning, valuing and selling businesses and corporate governance, as well as public company board experience. Mr. Brownstein is a nationally-known turnaround and crisis management professional and currently serves as the President of The Brownstein Corporation.

Mr. Marino brings to the PICO Board extensive experience in real estate, investment management, executive-level management, risk oversight, strategic planning, financial reporting and corporate governance, as well as public company board experience. For more than a decade, Mr. Marino served as the President and Chief Operating Officer and a member of the board of directors of Mission West Properties Inc. Mr. Brownstein will replace Kristina M. Leslie as a Class II director who has chosen to step down from the PICO Board. Mr. Marino will replace Robert G. Deuster as a Class I director who has also chosen to step down from the PICO Board.

On February 3, 2016, Robert G. Deuster and Kristina M. Leslie each independently notified the company of their resignations as a member of the Company's Board of Directors and as a member of all committees of the Board on which they served, effective immediately.