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AFLAC INCORPORATED REPORTS RECORD SECOND QUARTER EARNINGS, DECLARES THIRD QUARTER CASH DIVIDEND

 COLUMBUS, Ga., July 27 /PRNewswire/ -- AFLAC Incorporated (NYSE: AFL) today reported record second quarter results.
 Operating earnings of $59.0 million (excluding realized investment gains/losses) were the best in the company's history. Operating earnings per share increased 30.2 percent to $.56, compared to $.43 a year ago. Net earnings (including realized investment gains/losses) were $58.7 million, or $.56 per share. Total revenues in the second quarter rose 29.5 percent to $1.2 billion.
 For the six months, total revenues increased 24.8 percent to $2.4 billion. Six-month earnings comparisons exclude the $11.4 million, or $.11 per share, cumulative effect of accounting changes from the adoption of new accounting standards in the first quarter of 1993. Operating earnings were $113.0 million. Operating earnings per share increased 27.4 percent to $1.07, compared to $.84 a year ago. Net earnings were $112.5 million, or $1.07 per share.
 The board of directors declared the third quarter cash dividend of $.10 per share. The dividend is payable on Sept. 1 to shareholders of record at the close of business on Aug. 13. This represents the company's 80th consecutive quarterly cash dividend payment.
 President and Chief Executive Officer Daniel P. Amos stated: "We continue to be very pleased with AFLAC's financial performance this year and our record second-quarter results. As consumers respond to our broadened product line in Japan and the United States, we expect our success to continue."
 AFLAC Incorporated is an international holding company. Through its principal subsidiary, American Family Life Assurance Company (AFLAC), the company is one of the world's leading underwriters of supplemental insurance. AFLAC's primary markets are the United States and Japan. The company also owns seven network-affiliated television stations.
 AFLAC INCORPORATED AND SUBSIDIARIES
 Consolidated Summary of Earnings
 (Unaudited -- $000 omitted, except for per-share amounts)
 3 mos. ended June 30 1993 1992 Pct. chg.
 Total revenues $1,236,720 $ 955,293 29.5
 Operating earnings (excluding
 net realized investment gains/
 losses) 58,987 44,239 33.3
 Operating earnings per share .56 .43 30.2
 Net earnings (including net
 realized investment gains/
 losses) 58,741 44,250 32.7
 Net earnings per share .56 .44 27.3
 Dividends paid per share .10 .088 13.6
 Number of shares used to compute
 earnings per share (000) 105,210 102,459
 6 mos. ended June 30 1993 1992 Pct. chg.
 Total revenues $2,358,190 $1,889,759 24.8
 Operating earnings (excluding
 net realized investment gains/
 losses)(a) 112,951 86,433 30.7
 Operating earnings per share(a) 1.07 .84 27.4
 Net earnings (including net
 realized investment gains/
 losses)(a) 112,487 86,647 29.8
 Net earnings per share(a) 1.07 .85 25.9
 Dividends paid per share .188 .168 11.9
 Number of shares used to compute
 earnings per share (000) 105,172 102,408
 (a) Before the $11.4 million, or $.11 per share, cumulative effect of accounting changes from the adoption of new accounting standards in the first quarter of 1993.
 Note: Share and per-share amounts have been adjusted to reflect the five-for-four stock split paid on June 15.
 -0- 7/27/93
 /CONTACT: Analysts: Kenneth S. Janke Jr., 800-235-2667 or, fax, 706-324-6330, or Media: Kathelen V. Spencer, 706-596-3789 or, fax, 706-323-1448, both of AFLAC/
 (AFL)


CO: AFLAC Incorporated ST: Georgia IN: INS SU: ERN DIV

BR-BN -- AT011 -- 6456 07/27/93 17:16 EDT
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Date:Jul 27, 1993
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