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RELIANCE GROUP ADDS TWO DIRECTORS TO BOARD

 NEW YORK, Oct. 5 /PRNewswire/ -- Reliance Group Holdings, Inc. (NYSE: REL) today announced that Carter Burden and Thomas P. Gerrity have been elected directors of the company, increasing the size of the company's board of directors to 14, effective as of the next regular board meeting in December.
 Mr. Burden is chairman of the board of CRB Broadcasting and a managing partner of William A.M. Burden & Co. Prior to that, Mr. Burden was vice chairman of New York Magazine, Inc. and previous to that, he was chairman of the board of The Village Voice, Inc. Mr. Burden serves on the boards of numerous non-profit organizations including: The New York Public Library, where he is chairman of the board of trustees; The Morgan Library; and the New York City Ballet. He is also founder and chairman emeritus of The Burden Center for the Aging and director of the Florence V. Burden Foundation.
 Dr. Gerrity is dean of the Wharton School of the University of Pennsylvania and is a leading authority on business reengineering and the strategic use of information technology. Prior to joining Wharton, he was president of CSC Consulting, the commercial professional services group of Computer Sciences Corporation. Previous to that, Dr. Gerrity was the founder and chief executive officer of the Index Group, one of the world's leading consulting firms in business reengineering and strategic change. He currently serves on the board of directors of Digital Equipment Corporation, the Federal National Mortgage Association, and the Sun Company, Inc., and is a member of the executive committee of Technology Leaders L.P.
 "I am very pleased that Carter and Tom will be joining our board of directors," said Saul P. Steinberg, chairman and chief executive officer of Reliance Group. "They are men of outstanding achievement and I am sure Reliance will benefit greatly in the years ahead from their extensive expertise and business experience," he said.
 Headquartered in New York, Reliance Group Holdings, Inc., has major operations in property and casualty insurance and title insurance. Total 1992 revenues were $2.76 billion and assets at year end were $8.19 billion.
 -0- 10/5/93
 /CONTACT: Brian T. Martin, vice president - communications of Reliance Group Holdings, 212-909-1247/
 (REL)


CO: Reliance Group Holdings, Inc. ST: New York IN: INS SU: PER

SH-MP -- NY060 -- 8938 10/05/93 14:27 EDT
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Publication:PR Newswire
Date:Oct 5, 1993
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