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VESTA INSURANCE GROUP AUTHORIZES ISSUANCE AND SALE OF COMMON STOCK

 BIRMINGHAM, Ala., Nov. 12 /PRNewswire/ -- Directors of Vesta Insurance Group, Inc. (NYSE: VTA) today authorized the issuance and sale of 2,200,000 shares of Common Stock of the company, according to Robert Y. Huffman, president and CEO.
 Also, Torchmark Corporation (NYSE: TMK), of which Vesta is currently a wholly owned subsidiary, has agreed to sell an additional 6,800,000 shares of common stock of Vesta which it owns, directly or indirectly.
 The stock will be offered to the public at a price of $25.00 per share by the underwriting group headed by Morgan Stanley & Co. Incorporated, Merrill Lynch & Co., and Stephens, Inc. pursuant to a registration statement filed with the Securities and Exchange Commission. Copies of the prospectus pursuant to which the stock is being offered for sale may be obtained from such underwriters. Vesta's common stock is listed on the New York Stock Exchange under the symbol VTA.
 Substantially all of the proceeds from the sale of the new stock by Vesta will be contributed to Vesta's insurance subsidiaries. The closing of the sale of the new stock is expected to occur on or about Nov. 18.
 Vesta is a recently formed holding company that owns all of the companies constituting the Liberty National Fire Group, including Liberty National Fire Insurance Company. Vesta is headquartered in Birmingham.
 -0- 11/12/93
 /CONTACT: Donald W. Thornton, 205-970-7150, or Steven P. Leonard, 205-970-7250, both of Vesta/
 (VTA TMK)


CO: Vesta Insurance Group, Inc. ST: Alabama IN: INS SU: OFR

RA-RB -- AT001 -- 3494 11/12/93 07:35 EST
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Publication:PR Newswire
Date:Nov 12, 1993
Words:260
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