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JEFFERSON-PILOT SHAREHOLDER WITHDRAWS ANTI-GREENMAIL PROPOSAL

 JEFFERSON-PILOT SHAREHOLDER WITHDRAWS ANTI-GREENMAIL PROPOSAL
 GREENSBORO, N.C., Jan. 6 /PRNewswire/ -- Proposed limitations on greenmail payments by Jefferson-Pilot Corporation (NYSE: JP) have been "reluctantly withdrawn" by Resources Planning Corporation (RPC), a long-term JP shareholder.
 The proposal, in the form of a new bylaw, was delivered to JP Dec. 12. If approved by shareholders, the proposal would have limited JP management's ability to pay greenmail, an above-market premium paid to buy back stock from shareholders who threaten management's exclusive control of the corporation. The proposed bylaw also sought to implement secret balloting in all voting by JP shareholders.
 "The company could have agreed to include the entire proposal, but they have instead relied on some SEC (Securities and Exchange Commission) rules to force us to limit our bylaw proposal to only one of the two issues," said RPC vice chairman Craig Redwine. "We feel JP's attitude and their latest action are unwise, unfortunate and not in the best interest of shareholders."
 RPC has resubmitted a revised proposal, still providing for a secret ballot to be used whenever JP shareholders vote. "We believe that confidential voting is a key ingredient in establishing management accountability at JP," Redwine added. RPC expects that JP shareholders will be allowed to vote on its proposal at the May 1992 annual meeting.
 -0- 1/6/92
 EDITOR'S NOTE: More information on RPC and the Jefferson-Pilot Shareholders Committee is available from Mr. Redwine or from Lawrimore Communications at 704-525-4775.
 /CONTACT: Craig Redwine, Resources Planning Corporation, 704-376-3519/
 (JP) CO: Jefferson-Pilot Corporation; Resources Planning Corporation ST: North Carolina IN: INS TLS SU:


CM -- CH002 -- 6822 01/06/92 10:33 EST
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Publication:PR Newswire
Date:Jan 6, 1992
Words:271
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