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USLIFE CORPORATION EXTENDS STOCK REPURCHASE PROGRAM

 USLIFE CORPORATION EXTENDS STOCK REPURCHASE PROGRAM
 NEW YORK, Oct. 28 /PRNewswire/ -- USLIFE Corporation (NYSE: USH)


today announced the extension of its stock repurchase program. The board of directors has extended the current program through November of 1993 and authorized the purchase of up to one million common shares and/or other outstanding equity securities. This action was announced by Gordon E. Crosby, Jr., chairman of the board, president and chief executive officer of USLIFE.
 Excluding treasury stock, USLIFE Corporation has 14,957,376 common shares issued and outstanding.
 Since the inception of the stock repurchase program in 1981, USLIFE repurchased approximately 11.1 million shares of its common stock at a cost of approximately $357.6 million which equates to an average price of $32.18 per share as compared to book value as of Sept. 30, 1992 of $66.59 per share.
 Subject to prevailing market conditions and other factors, repurchases will be made in the open market or through negotiated transactions.
 -0- 10/28/92
 /NOTE TO EDITORS: USLIFE Corporation is a life insurance-based holding company whose principal subsidiaries engage in the life insurance business. With nationwide operations, the USLIFE Life Insurance Division has three ordinary life insurance companies and a credit insurance group with approximately $110 billion of life insurance in force as of Sept. 30, 1992. Additionally, there are five other subsidiaries that furnish the life insurance companies with investment advisory, broker-dealer, real estate, data processing and administrative services./
 /CONTACT: Richard P. Keating, vice president - corporate communications of USLIFE Corporation, 212-709-6227/
 (USH) CO: USLIFE Corporation ST: New York IN: INS SU:


GK-SH -- NY017 -- 5837 10/28/92 09:40 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Oct 28, 1992
Words:274
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