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JMC GROUP ELECTS CHARLES H. BLACK TO BOARD OF DIRECTORS

 SAN DIEGO, June 23 /PRNewswire/ -- JMC Group Inc. (NASDAQ: JMCG) today announced that its board of directors has elected Charles H. Black, 66, to the board, bringing the total number of directors to nine.
 "We are honored that Chuck Black has agreed to serve on our Board," James K. Mitchell, chairman and chief executive officer. "He has served at the most senior levels of several Fortune 100 companies and will bring a depth of experience and expertise in financial and administrative issues of critical importance to our company."
 Black is currently active in financial consulting for several corporations, providing guidance on mergers and acquisitions, divestitures, restructuring and financial controls. In addition, he serves on the board of Monarch Life Insurance in Boston and the boards of four mutual funds and two technology-related companies. He is also a member of the board of governors of the Pacific Stock Exchange.
 Previously, he was a vice chairman of Petron Controls Corp., a company he helped restructure and sell. He was a director, executive vice president and chief financial officer of Kaiser Steel Corp. and also served as executive vice president and chief financial officer of Great Western Savings & Loan Association, the second-largest savings and loan institution in the United States.
 From 1957 to 1980, Black worked for Litton Industries in various financial and administrative functions, serving as vice president and treasurer for his last nine years there. He also worked for Lockheed Corp. and Hughes Aircraft.
 Black graduated from the University of Southern California in 1950 with a B.S. degree in business. He lives with his wife Bonnie in Pacific Palisades.
 JMC Group Inc., through its wholly owned subsidiary James Mitchell & Co., is a leading marketer of annuities and other insurance products and mutual funds to customers of financial institutions.
 -0- 6/23/93
 /CONTACT: Doug Sherk or Jenifer Kirtland, 415-296-7383, or Michele Katz or Miriam Adler, 212-850-5600, all of Morgen-Walke, for JMC Group/
 (JMCG)


CO: JMC Group Inc.; James Mitchell & Co. ST: California IN: FIN INS SU: PER

GT-TM -- SF001 -- 4800 06/23/93 06:30 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
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