<SUBMISSION>
<ACCESSION-NUMBER>0001104659-06-041416
<TYPE>8-K
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20060613
<ITEMS>7.01
<ITEMS>9.01
<FILING-DATE>20060613
<DATE-OF-FILING-DATE-CHANGE>20060613
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>PRECIS INC
<CIK>0001017440
<ASSIGNED-SIC>7389
<IRS-NUMBER>731494382
<STATE-OF-INCORPORATION>OK
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>8-K
<ACT>34
<FILE-NUMBER>001-15667
<FILM-NUMBER>06902323
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>2040 NORTH HIGHWAY 360
<CITY>GRAND PRAIRIE
<STATE>TX
<ZIP>75050
<PHONE>9725222008
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>2040 NORTH HIGHWAY 360
<CITY>GRAND PRAIRIE
<STATE>TX
<ZIP>75050
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>PRECIS SMART CARD SYSTEMS INC
<DATE-CHANGED>19990827
</FORMER-COMPANY>
</FILER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a06-13724_18k.htm
<DESCRIPTION>CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES
<TEXT>
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<div style="font-family:Times New Roman;">
 <div style="border:none;border-top:double windowtext 6.0pt;padding:0pt 0pt 0pt 0pt;"> <p style="border:none;margin:0pt 0pt .0001pt;padding:0pt;"></p> </div>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION</font></b><font size="5" style="font-size:18.0pt;"><br>
</font><b><font style="font-weight:bold;">Washington, D.C. 20549</font></b></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>

<h1 align="center" style="font-size:10.0pt;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Current Report Pursuant to Section&nbsp;13 or 15(d)&nbsp;of</font></b><b><font style="font-weight:bold;"><br>
</font>The Securities Exchange Act of
1934</b></h1>

<h2 align="center" style="font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">DATE OF REPORT (DATE
OF EARLIEST EVENT REPORTED):&#160; June&nbsp;13,
2006</font></b></h2>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">PRECIS, INC.</font></b><font size="5" style="font-size:18.0pt;"><br>
</font>(Name of business issuer in its Charter)</p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

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  <p align="center" style="font-size:10.0pt;margin:0pt 0pt .0001pt;text-align:center;"><b><font style="font-weight:bold;">OKLAHOMA</font></b></p>
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  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">001-15667</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">73-1494382</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.36%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
  jurisdiction of</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.36%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission File</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.36%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(I.R.S. Employer</font></p>
  </td>
 </tr>
 <tr>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.36%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">incorporation or
  organization)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.36%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Number)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0pt .7pt 0pt .7pt;width:2.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="31%" valign="top" style="padding:0pt .7pt 0pt .7pt;width:31.36%;">
  <p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Identification
  No.)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">2040 North Highway 360</font></b><br>
<b><font style="font-weight:bold;">Grand Prairie, Texas 75050</font></b><br>
(Address of principal executive offices)</p>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">(866) 578-1665</font></b><br>
(Issuer&#146;s telephone number)</p>

<p align="center" style="font-size:10.0pt;margin:0pt 0pt 12.0pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">n/a</font></b><br>
(Former name or former address, if changed since last report)</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the
appropriate box below if the Form&nbsp;8-K filing is intended to
simultaneously satisfy the obligation of registrant under any of the following
provisions (See General Instruction A.2 below):</font></p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Written communications pursuant to Rule&nbsp;425
under the Securities Act (17 CFR 230.425)</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Soliciting material pursuant to Rule&nbsp;14a-12
under the Securities Act (17 CFR 240.14a-12)</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pre-commencement communications
pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR
240.14d-2(b))</p>

<p style="font-size:10.0pt;margin:0pt 0pt 12.0pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; Pre-commencement communications
pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR
240.13e-4(c))</p>


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<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">PRECIS, INC.<br>
Form 8-K<br>
Current Report</font></p>

<p align="center" style="margin:0pt 0pt 24.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Table of Contents</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="a06-13724_18k.htm#Item7_01RegulationFdDisclosure_110449" title="Click to goto ">Item 7.01</a></font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="80%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:80.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="a06-13724_18k.htm#Item7_01RegulationFdDisclosure_110449" title="Click to goto ">Regulation FD Disclosure</a></font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
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  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="80%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:80.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="a06-13724_18k.htm#Item9_01Exhibits_110504" title="Click to goto ">Item 9.01</a></font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="80%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:80.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="a06-13724_18k.htm#Item9_01Exhibits_110504" title="Click to goto ">Exhibits</a></font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="80%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:80.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <td width="10%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:10.94%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;"><a href="a06-13724_18k.htm#Signature_110917" title="Click to goto ">Signature</a></font></p>
  </td>
  <td width="1%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:1.98%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="80%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:80.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:2.38%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">2</font></p>
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 <p style="margin:0pt 0pt .0001pt;text-align:center;"></p>

<p style="font-size:10.0pt;font-weight:bold;margin:0pt 0pt 12.0pt 47.0pt;page-break-after:avoid;text-indent:-47.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Item 7.01</font></b><font size="1" style="font-size:3.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-weight:normal;">Regulation FD Disclosure<a name="Item7_01RegulationFdDisclosure_110449"></a></font></p>

<p style="margin:0pt 0pt 12.0pt 48.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Precis,&nbsp;Inc., the &#147;Company&#148; announced today that it has entered
into a non-binding letter of intent to acquire Insuraco USA, L.L.C., a Fort
Worth, Texas company providing web-based technology, specialty products and
marketing for the insurance and financial services industry. The terms of the
transaction have not been disclosed, but the Company expects that it will be
all stock transaction. The press release issued by the Company announcing that
it entered into the letter of intent is attached as Exhibit&nbsp;99.1 to this
report.</font></p>

<p style="font-size:10.0pt;font-weight:bold;margin:0pt 0pt 12.0pt 47.0pt;page-break-after:avoid;text-indent:-47.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:normal;">Item 9.01</font></b><font size="1" style="font-size:3.0pt;font-weight:normal;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-weight:normal;">Exhibits<a name="Item9_01Exhibits_110504"></a></font></p>

<p style="margin:0pt 0pt 12.0pt 48.0pt;text-indent:1.45pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;99.1:&#160;&#160;&#160;&#160; Press Release issued by the Company, dated June&nbsp;13,
2006.</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">3</font></p>
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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;text-autospace:none;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SIGNATURE<a name="Signature_110917"></a></font></p>

<p style="margin:0pt 0pt 12.0pt;text-indent:18.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
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  <td width="47%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.68%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;"></p>
  </td>
  <td width="52%" colspan="2" valign="top" style="padding:0pt .7pt 0pt 0pt;width:52.32%;">
  <p style="margin:0pt 0pt .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">PRECIS, INC.</font></b></p>
  </td>
 </tr>
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  <td width="47%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
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  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
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  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="47%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0pt .7pt 0pt 0pt;width:47.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Frank Apodaca</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" valign="top" style="border:none;padding:0pt .7pt 0pt 0pt;width:47.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Frank Apodaca</font></p>
  </td>
 </tr>
 <tr>
  <td width="47%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.68%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="4%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:4.96%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="47%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:47.34%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">President</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Dated: June&nbsp;13,
2006</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>


 <p style="font-size:10.0pt;margin:24.0pt 0pt .0001pt;text-align:center;"><font face="Times New Roman">4</font></p>
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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="right" style="margin:0pt 0pt 12.0pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Exhibit&nbsp;99.1</font></p>

<h1 align="center" style="font-family:Times New Roman;font-weight:normal;margin:0pt 0pt 12.0pt;page-break-after:avoid;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:16.0pt;font-weight:bold;">Precis
Announces Intent to Acquire</font></b><font size="5" style="font-size:16.0pt;"><br>
<b><font style="font-weight:bold;">Insurance Sales and Marketing Organization</font></b></font></h1>

<p align="center" style="margin:0pt 0pt 12.0pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For Immediate Release</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;font-family:Times New Roman;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="font-size:10.0pt;margin:0pt 0pt .0001pt;">Contact:</p>
  </td>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Frank Apodaca<br>
  President<br>
  Precis,&nbsp;Inc.<br>
  915-581-8182</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Joe Diaz<br>
  Lytham Partners, LLC<br>
  602-889-9660</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Bob Bintliff<br>
  Chief Financial Officer<br>
  Precis,&nbsp;Inc.<br>
  972-343-6501</font></p>
  </td>
  <td width="50%" valign="top" style="padding:0pt .7pt 0pt 0pt;width:50.0%;">
  <p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Nancy Zalud<br>
  Senior Vice President<br>
  Insurance Capital Management<br>
  817-820-2125</font></p>
  </td>
 </tr>
</table>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10.0pt;margin:0pt 0pt 12.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">June&nbsp;13,
2006</font></b> &#151; Grand Prairie, Texas &#151; Precis Inc. (Nasdaq: PCIS)
announced today that it has entered into a non-binding letter of intent to
acquire Insuraco USA, L.L.C., a Fort Worth, Texas company providing web-based
technology, specialty products and marketing for the insurance and financial
services industry.</p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Precis Inc. is a provider
of access to affordable healthcare services to the ever growing number of
uninsured and/or underinsured in the United States. It is estimated that over
45 million Americans are currently without healthcare coverage.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Insuraco is a
wholly-owned subsidiary of Insurance Capital Management,&nbsp;Inc. (&#147;ICM&#148;) and
specializes in selling major medical individual health insurance and specialty
medical and benefit plans for affinity groups, associations, employers and
other groups. Insuraco commenced operations in 2004.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Peter W. Nauert, the
founder and Chief Executive Officer of ICM and Insuraco, would be named Chief
Executive Officer of Precis at the close of the transaction. Prior to founding
ICM, Mr.&nbsp;Nauert served as Chief Executive Officer of Ceres Group,&nbsp;Inc.
(NASDAQ: CERG), QQLink, and Pioneer Financial Services,&nbsp;Inc. (NYSE: PFS).</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The closing of the
transaction is contingent on completion of due diligence, approval by Precis&#146;
shareholders, and other matters.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;We are excited about the
opportunity of this transaction and the accretive profit contribution that we
anticipate it will bring to our shareholders,&#148; said Nicholas J. Zaffiris, the
Chairman of the Board for Precis. &#147;Insuraco would bring to Precis a portfolio
of proprietary products, benefit programs, and benefit enhancement programs to
complement and create cross-selling opportunities for Precis&#146; consumer medical
discount products and managed care services.&#148;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Zaffiris
continued, &#147;We are also delighted about Peter Nauert joining Precis. His
experience in successfully operating and growing insurance marketing companies,
as well as his expertise in mergers and acquisitions, capital formation and
administration would be of assistance to us as we build value for our
shareholders. He is a widely acknowledged insurance industry leader with
extensive product and market knowledge.&#148;</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Nauert stated, &#147;This
provides an exceptional and timely opportunity for both Precis and Insuraco. Senior
Insuraco staff will also be joining this combined team with Precis. Together,
we intend to continue to grow our distribution channels and create
differentiated consumer products to stay abreast of a rapidly changing market.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Since the initiation of
Insuraco and ICM, we have been successful in developing niche markets for
insurance and specialty products. Now, by joining with Precis, there will be
opportunity to create shareholder value by accelerating sales and earnings
growth through the current marketing channels and by accessing the capital
markets to pursue strategic acquisition opportunities,&#148; he added.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Insuraco brings strong
distribution and product development capabilities, along with an electronic
sales platform. We will utilize these skills and expertise to build on the
strong brand recognition of the Precis Care Entr&#233;e program and to expand its
defined benefit</font></p>

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<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">and insurance programs
throughout the United States. In addition, Precis&#146; Access HealthSource division
has an excellent consumer-based managed health care operation in Southwest
Texas that embraces a growing market area. I believe that we can build on the
existing Access platform and expand these services in other markets. I believe
Access represents a tremendous growth opportunity,&#148; Nauert concluded.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">In order to accommodate
the schedule of the transaction and address all matters requiring action by its
shareholders at one meeting, the annual meeting of Precis shareholders normally
occurring in July&nbsp;will be held in late October&nbsp;2006.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">About Precis,&nbsp;Inc.</font></u></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Precis,&nbsp;Inc. and its
subsidiaries provide affordable consumer-driven health care solutions as
alternatives to traditional health insurance. The companies market
non-insurance health care savings programs, administer tax-favored
reimbursement accounts, and offer third party claims administration, provider
network management, and utilization management services for employer groups
that utilize partially self funded strategies to finance their employee benefit
programs. For more information on Precis, its subsidiaries Access
Administrators and Care 125, visit www.precis-pcis.com,
www.accesshealthsource.com and www.care125.com, respectively.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">About Insuraco</font></u></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Insurance Capital Management,&nbsp;Inc. (ICM) and
Insuraco USA, L.L.C. provide web-based technology, specialty products and
marketing for insurance and financial services. ICM&#146;s team of sales, marketing
and technology professionals enable insurance, healthcare and financial service
companies to improve their product distribution and marketing. ICM utilizes
web-based technology, its nationwide agent distribution and direct call center
programs to provide superior customer and marketing support. For more
information, go to www.icmusa.com.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Disclaimer</font></u></b></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Certain statements
included in this news release constitute &#147;forward-looking statements&#148; within
the meaning of Section&nbsp;27A of the Securities Act of 1933, as amended and Section&nbsp;21E
of the Securities Exchange Act of 1934, as amended. Certain, but not
necessarily all, of such forward-looking statements can be identified by the
use of forward-looking terminology such as &#147;anticipate&#148;, &#147;believes&#148;, &#147;expects&#148;,
&#147;may&#148;, &#147;will&#148;, or &#147;should&#148;, or other variations thereon, by discussions of
strategies that involve risks and uncertainties. Precis Inc.&#146;s actual results
or industry results may be materially different from any future results
expressed or implied by such forward-looking statements. Factors that could
cause actual results to differ materially include general economic and business
conditions; Precis Inc.&#146;s ability to implement its business strategies;
competition; availability of key personnel; increasing operating costs;
unsuccessful promotional efforts; changes in brand awareness; acceptance of new
product offerings; retention of members and independent marketing
representatives; and changes in, or the failure to comply with, government
regulations. Precis,&nbsp;Inc. undertakes no obligation to update any
forward-looking statements or to make any other forward-looking statement,
whether as a result of new information, future events, or otherwise.</font></p>

<p style="margin:0pt 0pt 12.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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