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CAPITAL HOLDING BROADENS MEHTA'S RESPONSIBILITIES; NAMES HIM EVP

 LOUISVILLE, Ky., Aug. 25 /PRNewswire/ -- Capital Holding Corporation (NYSE: CPH) today announced that effective immediately Shailesh Mehta, president and chief executive officer of its Banking Group, will also be responsible for the management of its Direct Response Group. In recognition of his broader management role, Mehta, 44, was also named executive vice president of Capital Holding.
 Norman L. Phelps, 55, formerly president of the Direct Response Group, has been named senior vice president of Capital Holding and will assist Mehta through a transition period. Phelps will retire from the company on July 1, 1994.
 The Direct Response Group is one of the nation's largest direct marketers of life and health insurance, while the Banking Group is one of the country's most successful direct marketers of credit cards.
 Irving W. Bailey II, chairman, president and chief executive officer of Capital Holding, said, "The Direct Response and Banking Groups both utilize telemarketing and direct mail as their delivery systems. Our Banking Group has demonstrated an ability to develop and use proprietary data bases to grow rapidly in a highly competitive and saturated market. Short product development and testing cycles have also been strengths.
 "The Direct Response Group has been focused on changing from a mass marketing business to a targeted marketing business. By sharing and transferring specific skills between these groups, we see an opportunity to accelerate the continued growth and profitability of the corporation," Bailey said.
 Mehta joined Capital Holding's Banking Group in 1986 as executive vice president and chief operating officer. He was named president and chief executive officer of the unit in 1988. During that time the Group's receivables have grown from $866 million to approximately $3.6 billion. It is ranked first in the nation in return on equity and second in the nation in return on assets by American Banker.
 Prior to joining Capital Holding, Mehta spent 12 years in operations with Ameritrust, rising to executive vice president. He holds a bachelor of science degree in mechanical engineering from the Indian Institute of Technology in Bombay. He earned his masters and Ph.D. in operations research/Computer Science from Case Western Reserve University.
 Capital Holding Corporation, 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- 8/25/93
 /CONTACT: Bonnie Otto, 502-560-3019 or Bill Gibbons, 502-560-3939, both of Capital Holding/
 (CPH)


CO: Capital Holding Corporation ST: Kentucky IN: INS SU: PER

CM -- CH007 -- 0315 08/25/93 11:54 EDT
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Publication:PR Newswire
Date:Aug 25, 1993
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