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DONEGAL GROUP ANNOUNCES STOCK OFFERING

 MARIETTA, Pa., Sept. 29 /PRNewswire/ -- Donegal Group Inc. (NASDAQ-NMS: DGIC) announced that an offering of 1.35 million shares of its common stock has been made at a price of $15.50 a share by an underwriting group led by Advest, Inc., and The Robinson-Humphrey Company, Inc.
 Of the shares sold, 1,150,000 shares will be sold by Donegal Group Inc. and 200,000 shares will be sold by Donegal Mutual Insurance Company, a mutual insurance company which will now own approximately 57 percent of Donegal Group Inc.'s stock.
 The company stated that it intends to use the proceeds from the sale of the shares to increase the statutory capital and surplus of its insurance subsidiaries to permit greater underwriting volume and for general corporate purposes.
 Donegal Group Inc. is a regional insurance property-casualty insurance holding company doing business in Pennsylvania, Virginia, Maryland, Delaware and Ohio through its wholly owned subsidiaries, Atlantic States Insurance Company and Southern Insurance Company of Virginia.
 -0- 9/29/93
 /CONTACT: Ralph G. Spontak of Donegal Group Inc., 717-426-1931/
 (DGIC)


CO: Donegal Group Inc. ST: Pennsylvania IN: INS SU: OFR

TW -- NY072 -- 6957 09/29/93 16:19 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
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