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JEFFERSON-PILOT RESPONDS TO PARSONS LAWSUIT

 JEFFERSON-PILOT RESPONDS TO PARSONS LAWSUIT
 GREENSBORO, N.C., June 16 /PRNewswire/ -- A spokesman for Jefferson-


Pilot Corporation (NYSE: JP) said that the company has not yet had a chance to review the lawsuit described in a press release issued today by Donald and Louise Price Parsons, so the company will not be able to comment on it in specific.
 The spokesman said, however, that "Based on the press release, this new lawsuit looks like it's just more of the same of what they've filed before.
 "Plainly and simply, Louise Price Parsons and Donald Parsons are just poor losers.
 "There was nothing illegal about the way in which the company conducted the solicitation for the annual meeting on May 4.
 "It's incredible to us that the Parsons, who cloaked themselves under the mantle of shareholder rights activists for the purpose of the proxy contest, continue to refuse to accept that the shareholders have spoken, by ratifying the stock grant program by a margin of nearly two to one.
 "Jefferson-Pilot's many other shareholders must continue to bear the burden -- in terms of cost and disruption at the company -- to defend against this constant stream of litigation."
 -0- 6/16/92
 /CONTACT: William Chenoweth of Jefferson-Pilot Corporation, 919-691-3390/
 (JP) CO: Jefferson-Pilot Corporation ST: North Carolina IN: INS SU:


PS -- NY094 -- 0865 06/16/92 17:33 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jun 16, 1992
Words:224
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