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CAPITAL HOLDING'S NATIONAL HOME LIFE RECEIVES UPGRADE FROM DUFF & PHELPS

 LOUISVILLE, Ky., Sept. 13 /PRNewswire/ -- National Home Life Assurance Company, a member of the Capital Holding family of companies, today received an upgrade for its claims paying ability rating to AA from AA- from Duff & Phelps Credit Rating Company.
 Also, Duff & Phelps reaffirmed its claims paying ability rating of AA+ and commercial paper rating of Duff 1+ for Commonwealth Life Insurance and Peoples Security Life Insurance companies, both members of the Capital Holding Corporation family. Additionally, the rating agency reaffirmed its senior debt rating of AA-, preferred stock rating of A+ and commercial paper rating of Duff 1+ for Capital Holding.
 "I believe the reaffirmation of our credit ratings and the upgrade for National Home Life reflect Capital Holding's continued solid performance and increased earnings during less than optimal economic times," said Irving W. Bailey II, Capital Holding's chairman, president and chief executive officer. "We continue to provide substantial return on investment and return on equity. Duff & Phelps' ratings announcement is another confirmation of Capital Holding's continuing growth and positive earnings. We are pleased to receive this recognition from Duff & Phelps and believe we are well-positioned for continued success," Bailey said.
 National Home's upgrade reflects the company's strong profitability gains, attributable to a more targeted approach to marketing, rigorous cost management and tight underwriting standards, according to a statement issued by Duff & Phelps.
 Capital Holding's financial strength, capable investment, asset/liability management and the relatively high quality of its bond and mortgage portfolios were cited by Duff & Phelps in its reaffirmation of the company's credit and preferred stock ratings.
 In reaffirming ratings for Commonwealth and Peoples Security, the Duff & Phelps announcement stated this reflects the companies' significant profitability, product diversity and cash flow.
 Capital Holding Corporation (NYSE: CPH), with $21.9 billion in assets, is a leading provider of consumer financial services including insurance, consumer loan and annuity and pension products. The corporation offers these and other financial services and products primarily through agents, direct-marketing media and investment professionals. Its common stock is listed on the New York and Pacific stock exchanges under the ticker symbol CPH; its Series F preferred stock is listed on the New York Stock Exchange as CPHF.
 -0- 9/13/93
 /CONTACT: Michael Bateman, 502-560-2723, or Bonnie Otto, 502-560-3019, both of Capital Holding/
 (CPH)


CO: Capital Holding Corporation; National Home Life Assurance Company ST: Kentucky IN: INS SU:

SB -- CH012 -- 1465 09/13/93 16:35 EDT
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Publication:PR Newswire
Date:Sep 13, 1993
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