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ALLEGHANY CHAIRMAN F.M. KIRBY TO STEP DOWN AS CEO

 ALLEGHANY CHAIRMAN F.M. KIRBY TO STEP DOWN AS CEO
 NEW YORK, June 17 /PRNewswire/ -- F.M. Kirby, chairman of the board


of Alleghany Corporation, (NYSE: Y) announced today that he will step down as the company's chief executive officer on June 30, and that the company's board of directors has appointed John J. Burns, Jr. to succeed him in that capacity on July 1. Burns has been Alleghany's president and chief operating officer since 1977.
 Kirby, who has been chairman of the board and chief executive officer since 1967, will continue as chairman of the board. Burns will continue as president.
 Commenting on today's announcement, Kirby said, "Many of the creative strategies we have pursued and the accomplishments we have enjoyed in the last 24 years are largely attributable to John Burns. He brought youthful vigor and an ideal background to Alleghany in 1968 and since then has never stopped gaining experience and developing skills which should serve him well in leading this company aggressively forward. Being able to recommend his appointment as chief executive officer has been one of the most satisfying accomplishments of my own career."
 Burns joined Alleghany in 1968 as vice president-finance. Before joining Alleghany, he was a general of New York Securities Co. and a security analyst at Goldman, Sachs & Co. Burns is a graduate of Boston College and the Harvard Business School.
 Alleghany Corporation is engaged, through its subsidiaries Chicago Title and Trust Company, Sacramento Savings Bank and World Minerals, Inc., in the businesses of title insurance, investment management, retail banking and industrial minerals. Alleghany also conducts a steel fastener importing business through its Heads and Threads division.
 -0- 6/17/92
 /CONTACT: T. E. Somerville of Alleghany, 212-752-1356/
 (Y) CO: Alleghany Corporation ST: New York IN: INS SU: PER


LR-OS -- NY043 -- 1078 06/17/92 12:18 EDT
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Date:Jun 17, 1992
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