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AMERICAN HERITAGE LIFE INVESTMENT CORP. REPORTS RECORD SECOND QUARTER AND SIX MONTH'S OPERATING EARNINGS

 JACKSONVILLE, Fla., July 29 /PRNewswire/ -- Record operating results for the three months and six months ended June 30, 1993 were reported today by American Heritage Life Investment Corporation (NYSE: AHL).
 Earnings from operations, excluding net realized investment gains, for the three months ended June 30, 1993 were $4,694,711, up 12.1 percent from the $4,189,407 reported for the same period in 1992. This represents $.3930 per share for the second quarter 1993 vs. $.3519 for the second quarter 1992, an increase of 11.7 percent.
 Net earnings for the second quarter were $4,925,046, up 13.4 percent from the $4,344,535 reported for the same period last year. On a per share basis, net earnings were $.4123 compared to $.3649 last year, up 13.0 percent.
 Earnings from operations, excluding net realized investment gains, for the six months ended June 30, 1993 were $9,340,170, up 11.2 percent from the $8,400,946 reported for the same period in 1992. This represents $.7829 per share for the first six months of 1993 vs. $.7062 for the same period last year, up 10.9 percent.
 Net earnings for the six months ended June 30, 1993 were $9,608,013, up 12.1 percent from the $8,569,250 reported for the same period in 1992. On a per share basis, net earnings were $.8054 compared to $.7203 last year, an increase of 11.8 percent.
 Total income for the six months ended June 30, 1993 was $141,120,033 compared to $129,585,533 for the same period last year, up 8.9 percent.
 The company's assets at June 30, 1993 were $1,057,331,465 compared to $951,097,023 at June 30, 1992; equity per share at June 30, 1993 was $12.22 compared to $11.41 at June 30, 1992.
 The company's annualized return on stockholders' equity based on earnings from operations increased to 14.36 percent at June 30, 1993, compared to 14.04 percent for the same period last year.
 At the board of directors meeting today, the company declared three $.05 monthly dividends, payable Aug. 27, Sept. 24, and Oct. 22, 1993 to shareholders of record on Aug. 16, Sept. 13, and Oct. 11, 1993, respectively.
 American Heritage Life Investment Corporation is a life insurance- oriented holding company, based in Jacksonville, Fla., whose principal subsidiary is American Heritage Life Insurance Company.
 0 D AMERICAN HERITAGE LIFE INVESTMENT CORPORATION
 SELECTED FINANCIAL DATA
 PERCENT
 THREE MONTHS ENDED JUNE 30 1993 1992 CHANGE
 Total insurance revenues $ 55,761,382 50,115,781 +11.3 pct.
 Net investment income 15,669,076 14,981,254 + 4.6 pct.
 Net earnings 4,925,046 4,344,535 +13.4 pct.
 Net earnings per share (A) 0.4123 0.3649 +13.0 pct.
 HISTORICAL PRESENTATION
 Earnings from operations $ 4,694,711 4,189,407 +12.1
 Net realized
 investment gains 230,335 155,128 +48.5
 Net earnings $ 4,925,046 4,344,535 +13.4
 Earnings per share (A)
 Earnings from operations $.3930 .3519 +11.7
 Net realized investment gains .0193 .0130 +48.5
 Net earnings $.4123 .3649 +13.0
 (A) -- Based on 11,946,458 daily average number of shares outstanding in 1993 and 11,904,818 in 1992 (restated to reflect the three-for-two stock split in May 1993).
 PERCENT
 SIX MONTHS ENDED JUNE 30 1993 1992 CHANGE
 Total insurance revenues $110,041,888 99,889,232 +10.2
 Net investment income 30,672,302 29,441,297 + 4.2
 Net earnings 9,608,013 8,569,250 +12.1
 Net earnings per share 0.8054 0.7203 +11.8
 HISTORICAL PRESENTATION
 Earnings from operations $ 9,340,170 Ph 8,400,946 +11.2
 Net realized
 investment gains 267,843 168,304 +59.1
 Net earnings $ 9,608,013 8,569,250 +12.1
 Earnings per share (A)
 Earnings from operations $0.7289 0.7062 +10.9
 Net realized investment gains .0225 .0141 +59.6
 Net earnings $0.8054 0.7203 +11.8
 AT JUNE 30
 Total assets $1,057,331,465 951,097,123 +11.2
 Total stockholders'
 equity 146,029,687 135,984,592 + 7.4
 Equity per share 12.22 11.41 + 7.1
 Annualized return on
 stockholders' equity 14.36 pct. 14.04 pct. ---
 (A) -- Based on 11,929,697 daily average number of shares outstanding in 1993 and 11,896,326 in 1992 (restated to reflect the three-for-two stock split in May 1993).
 -0- 7/29/93
 /CONTACT: Chris A. Verlander of American Heritage Life Investment Corporation, 904-359-2580/
 (AHL)


CO: American Heritage Life Investment Corporation ST: Florida IN: INS FIN SU: ERN

{ RC-AW -- FL002 -- 7456 07/29/93 11:25 EDT
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Date:Jul 29, 1993
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