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PRIMERICA CONFIRMS TALKS BETWEEN ITS SMITH BARNEY SUBSIDIARY AND SHEARSON LEHMAN BROTHERS

 NEW YORK, March 9 /PRNewswire/ -- Primerica Corporation (NYSE: PA) confirmed today that its Smith Barney, Inc. subsidiary is in discussions with Shearson Lehman Brothers Inc., a subsidiary of American Express Company (NYSE: AXP).
 The discussions involve the possible combination of Smith Barney and the domestic retail brokerage and asset management businesses of Shearson Lehman Brothers.
 The discussions are continuing today, but no definitive agreement has been reached. The Smith Barney retail branch network was informed of the discussions this morning by Frank G. Zarb, chairman and chief executive officer, over the firm's internal communication system.
 No retail brokerage, institutional or international money market businesses that operate under the Lehman name are part of the discussions of a combination.
 -0- 3/9/93
 /CONTACT: Mary McDermott of Primerica, 212-891-8870; or Bob Connor of Smith Barney, 212-698-3123/
 (PA AXP)


CO: Primerica Corporation; Smith Barney, Inc.;
 Shearson Lehman Brothers Inc.; American Express Company ST: New York IN: FIN SU: TNM


GK-OS -- NY037 -- 8461 03/09/93 10:56 EST
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Publication:PR Newswire
Date:Mar 9, 1993
Words:166
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