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THE NWNL COMPANIES ANNOUNCES INTENT TO ACQUIRE MUTUAL FUND

 MINNEAPOLIS, Sept. 16 /PRNewswire/ -- The NWNL Companies (NYSE: NWN) announced today that it has entered into a letter of intent to acquire Northstar Investment Management (proposed name), an investment advisor and distributor of mutual funds. Northstar is a start-up operation managed by Mark Lipson, former chief executive officer of National Securities and Research Corp. Northstar Management will be capitalized with $4 million.
 NWNL Chairman and Chief Executive Officer John G. Turner said, "Our expectation is that Northstar will manage and distribute mutual funds and will provide additional investment options under Northwestern National Life Insurance Company's variable insurance and annuity products."
 The arrangement is contingent upon the parties reaching a definitive agreement on terms and conditions. A fund registration statement was recently filed with the SEC in anticipation of the company becoming operational.
 The NWNL Companies is a Minneapolis-based holding company specializing in insurance and financial services.
 -0- 9/16/93
 /CONTACT: Susan Mead of NWNL, 612-342-3051/
 (NWN)


CO: The NWNL Companies; Northstar Investment Management ST: Minnesota IN: INS SU: TNM

DB-KH -- MN005 -- 2681 09/16/93 12:19 EDT
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Publication:PR Newswire
Date:Sep 16, 1993
Words:179
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