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ACCEPTANCE INSURANCE COMPANIES REPORTS ON RIGHTS OFFERING

 OMAHA, Neb., Jan. 21 /PRNewswire/ -- Acceptance Insurance Companies Inc. (NYSE: AIF), Omaha, announced today that over 1,375,000 equity units, for net proceeds of over $11 million, have been subscribed for in the rights offering currently under way. Completion of the rights offering had been conditioned upon receipt of subscriptions for not less than 1,375,000 units.
 The company is seeking approximately $27.7 million to $31.9 million in the rights offering, which was commenced Dec. 23, 1992, and will terminate Jan. 27, 1993.
 Acceptance Insurance is an "A-" rated specialty property and casualty insurance company concentrating its efforts in the excess and surplus lines business. The company's insurance operations are conducted through its three insurance subsidiaries and an insurance agency. The company seeks specialty books of insurance business throughout the United States in which the application of its skilled underwriting and claims techniques can provide the company with an advantage over the insurance industry.
 -0- 1/21/93
 /CONTACT: William J. Gerber, vice president of Acceptance Insurance Companies, 402-344-8800; or Edward Silverman or Cynthia Bond of Silverman Heller & Bond, 212-682-9222, for Acceptance Insurance Companies/
 (AIF)


CO: Acceptance Insurance Companies Inc. ST: Nebraska IN: INS SU: OFR

AH-CK -- NY023 -- 7311 01/21/93 10:31 EST
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Publication:PR Newswire
Date:Jan 21, 1993
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