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LIFE PARTNERS GROUP NOT AFFILIATED WITH WACO, TEXAS COMPANY INVOLVED IN AIDS MARKETING SCAM

 LIFE PARTNERS GROUP NOT AFFILIATED WITH WACO, TEXAS
 COMPANY INVOLVED IN AIDS MARKETING SCAM
 DENVER, Aug. 24 /PRNewswire/ -- Life Partners Group Inc., a holding company with life insurance operations in Denver and Dallas, said today that it has no affiliation or relationship whatsoever with the Waco, Texas-based firm known as "Life Partners Inc.," which has been the subject of recent news reports concerning the Waco firm's alleged participation in questionable purchases of life insurance policies owned by people with AIDS and other terminal illnesses.
 According to news reports, the Waco firm of similar name has recently captured media attention with an alleged scheme to attract investors who will purchase at a discount the life insurance policies of AIDS patients and other terminally ill policy holders. News accounts further explain that the investors purportedly pay the AIDS patient a portion of the policy's death benefit in advance, with plans to recoup their costs plus a profit when the covered insured dies.
 "We find this alleged practice deplorable," stated John W. Gardiner, president of Denver-based Life Partners Group. "Naturally, we are greatly disturbed that the close similarity in names has created confusion about our company's activities. We are emphatically opposed to this type of business practice. Furthermore, our product portfolio does not currently offer any living benefit provisions."
 Life Partners Group is an insurance holding company with over $3 billion in assets, and over $35 billion of life insurance in force. Life Partners Group currently owns five insurance subsidiaries. Its two principal subsidiaries, Massachusetts General Life and Philadelphia Life, sell life insurance and annuities through a national distribution force of over 25,000 independent insurance agents. Both insurance subsidiaries are rated "A" by A.M. Best, and "A Plus" (Single-A-Plus) by Duff & Phelps.
 -0- 8/24/92
 /CONTACT: Cathy Chaney of Life Partners Group, 800-525-7662/ CO: Life Partners Group Inc.; Life Partners Inc. ST: Colorado, Texas IN: INS SU:


MC -- DV001 -- 2451 08/24/92 08:59 EDT
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Publication:PR Newswire
Date:Aug 24, 1992
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