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STATEMENT BY RICHARD H. JENRETTE, EQUITABLE CHAIRMAN AND CHIEF EXECUTIVE OFFICER, ON DUFF & PHELPS RATING UPGRADE

 STATEMENT BY RICHARD H. JENRETTE, EQUITABLE CHAIRMAN
 AND CHIEF EXECUTIVE OFFICER, ON DUFF & PHELPS RATING UPGRADE
 NEW YORK, July 30 /PRNewswire/ -- In response to the rating upgrade issued by Duff & Phelps to The Equitable Life Assurance Society of the U.S., Equitable Chairman and CEO Richard H. Jenrette issued the following statement:
 "As a result of our successful demutualization, we have achieve another of our key goals which was to improve The Equitable's ratings," said Richard H. Jenrette, Equitable's chairman and chief executive officer. "We are very pleased that Duff & Phelps, along with other major rating agencies that have analyzed The Equitable in-depth, have reacted favorably to our strengthened capital position and improved competitive outlook."
 Earlier this week, Standard & Poor's announced that it also boosted, to A+ from A, the ratings for Equitable and EVLICO's claims-paying abilities, removing them from "CreditWatch." And on the day Equitable completed its demutualization, July 22, 1992, Moody's Investors Service reported that it took Equitable and EVLICO off its "CreditWatch with developing implications," and affirmed their A3 financial strength ratings.
 The Equitable Life Assurance Society of the U.S., one of the nation's largest insurers, is a wholly-owned subsidiary of The Equitable Companies Incorporated (NYSE: EQ). The Equitable is also one of the world's premier investment managers, with nearly $150 billion in assets under management. Its investment subsidiaries include Alliance Capital Management L.P., Donaldson, Lufkin & Jenrette, Inc., Equitable Capital Management Corporation and Equitable Real Estate Investment Management, Inc.
 -0- 7/30/92 R
 /CONTACT: Terrance Little, 212-554-8929, or analyst contact, Greg Wilcox, 212-554-2595, both of Equitable/ CO: Equitable Life Assurance Society of the U.S. ST: New York IN: INS SU: RTG


KD-PS -- NY107 -- 5376 07/30/92 18:30 EDT
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Date:Jul 30, 1992
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