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CENTRAL RESERVE LIFE CORPORATION RE-ELECTS THREE DIRECTORS AT ANNUAL MEETING; ADDRESSES OUTLOOK FOR 1993 RESULTS

 STRONGSVILLE, Ohio, May 20 /PRNewswire/ -- Central Reserve Life Corporation (NASDAQ: CRLC) held its 1993 annual meeting of shareholders in Cleveland today. Shareholders re-elected Fred Lick Jr., John F. Novatney Jr., Esq., and John L. McKean to three year terms expiring 1996.
 Lick, chairman and chief executive officer, reviewed Central Reserve's 1992 performance, current issues which affect health care in the United States, and the company's response to industry changes through implementation of specific initiatives. Central Reserve Life prepared a report on behalf of The Coalition of Small and Mid-sized Insurance Companies and submitted it to Hillary Rodham Clinton's Task Force on Health Reform in March 1993. It includes proposals to reform the current system to effect positive changes in health care, especially for small businesses.
 In addition, Lick noted that the board of directors declared a regular second quarter cash dividend of 10 cents payable on June 30, 1993, to shareholders of record on June 15, 1993. He also stated that financial results are expected to improve during the second half of 1993 as a result of specific steps taken to improve the company's long-term profitability. Currently, it is anticipated that results for the first six months of 1993 may include a net loss, although performance for the three months ended June 30, 1993, are expected to improve over the first quarter of 1993.
 Central Reserve Life Corporation is a leading provider of accident and health insurance and related financial products, specializing in groups of 50 or fewer employees. Based in Strongsville, Ohio, the company is currently active in 20 of the 36 states in which it is admitted.
 -0- 5/20/93
 /CONTACT: Frank Grimone, chief financial officer of Central Reserve Life Corporation, 216-572-2400; or Robert A. Lentz of Robert A. Lentz and Associates, Inc., 614-228-2142, for Central Reserve Life Corporation/
 (CRLC)


CO: Central Reserve Life Corporation ST: Ohio IN: INS SU: DIV ERP PER

AR -- CL017 -- 0862 05/20/93 14:51 EDT
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Publication:PR Newswire
Date:May 20, 1993
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