Illinois Department of Financial and Professional Regulation Division of Insurance	NEWS

Insurance License Application Denied

SPRINGFIELD, IL. -- The Illinois Department of Financial and Professional Regulation (IDFPR), Division of Insurance has denied the insurance producer and Business Entity license applications of Arthur Commons Carmichael Jr. and Valley Global Insurance Brokerage, LLC. of Los Altos, California and San Jose, California respectively, effective October 26, 2004.

Mr. Carmichael and Valley Global Insurance Brokerage, LLC were applying for a license to sell life, accident and health, casualty, and fire insurance as well as a Business Entity license. His license applications were denied as a result of an investigation, which revealed that the Applicant submitted an altered copy of his Business Entity's license to an insurer alleging it was licensed.

Under the Illinois Administrative Review Law he may have the right to appeal and request a stay of the Order. A copy of the Director's Order is attached.