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THE PRINCIPAL WEATHERING NATURAL DISASTER; COMPANY CONTINUES OPERATIONS

 DES MOINES, Iowa, July 16 /PRNewswire/ -- Despite serious flooding in Des Moines and loss of the entire city's water supply, the Principal Financial Group continues to provide essential service to its 7 million customers nationwide. The city's largest private employer and one of the 10 largest U.S. life insurers, the Principal continued operations thanks largely to an established business resumption plan and the dedication of employees.
 The Principal expects to have approximately 20 percent of its Des Moines employees working at any one time to conduct essential customer business. "Our goal throughout the disaster has been to continue meeting the essential needs of our customers," said David Hurd, chairman and CEO of the company. "Our employees are making heroic efforts to meet those needs."
 SYSTEMS REMAIN UP -- NO DATA LOST
 Through around-the-clock attention from the company's information systems and facilities staff and the use of back-up generator systems, the company's mainframe computer systems never went down during the disaster and no data has been lost. In addition to pension, disability and life insurance benefits, the Principal processed 2.8 million computer transactions involving the payment of health claims on Tuesday, compared to a daily average of 3 million.
 Power has been restored to the company's corporate campus, but there is still no water or air conditioning in the buildings.
 EMPLOYEES HELP THE CITY
 The company has asked its managers to contact employees not on call to work during the resumption effort and release them for community volunteer efforts. Many not back at work are filling sandbags to reclaim the city's water treatment facility, distributing water to those in need or volunteering to serve the many in need during this crisis.
 The Principal Financial Group is a diversified family of insurance and financial services companies with more than $38 billion in assets under management. Its flagship and largest member, Principal Mutual Life Insurance Company, is the fourth largest U.S. life insurance company in premium and annuity income.
 -0- 7/16/93
 /CONTACT: Bill Roach of Principal Financial Group, temporary office, 515-248-3341, or home, 515-274-4285, or Dave Tager of Ogilvy Adams & Rinehart, 212-880-5278, for Principal Financial Group/


CO: The Principal Financial Group ST: Iowa IN: INS SU:

LG-OS -- NY043 -- 2566 07/16/93 15:11 EDT
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Publication:PR Newswire
Date:Jul 16, 1993
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