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BRITISH AMERICAN HOLDINGS LIMITED ANNOUNCES DIRECTORS; DECLARES DIVIDEND

BRITISH AMERICAN HOLDINGS LIMITED ANNOUNCES DIRECTORS; DECLARES DIVIDEND
 NASSAU, Bahamas, Dec. 20 /PRNewswire/ -- British American Holdings Limited ("Holdings"), announced today that New Ventures Limited, the Class A shareholder of Holdings, had selected Dawood A. Rawat, Alfred H. Stewart and Anwer J. Sunderji as Class A directors of Holdings. Pursuant to the Articles of Association, the Class A shareholder has the right to select three of the seven directors of Holdings. The incumbent directors of Holdings, William C. Allen, Harvey L. daCosta and D. Anthony Jones, became the Class B directors of Holdings upon the appointment of the Class A directors. The Class A and Class B directors, as provided by the Articles of Association of Holdings, selected George Alwon as the Class C director of Holdings.
 Holdings owns approximately 75 percent of the issued and outstanding shares of British-American Insurance Company, Limited ("British-American"). There are currently two vacancies on the British-American board of directors, and Holdings announced today that it intends to cause those vacancies to be filled by Sunderji and Alwon; after those appointments, the board of directors of British-American will be the same as the board of Holdings.
 Separately, Holdings announced that the board of directors declared on Dec. 18, 1991, the payment of a dividend of U.S.$.50 per share on each of the Class A and Class B shares of Holdings. The record date for the dividend was set as Dec. 30, 1991, and the dividend is expected to be paid on Dec. 31, 1991.
 -0- 12/20/91
 /CONTACT: Judy Higgs, British-American Insurance Company, Limited, 809-322-2694 or fax 809-322-2698/ CO: British American Holdings Limited; New Ventures Limited;
 British-American Insurance Company, Limited ST: IN: INS SU: PER


CM -- CH007 -- 4556 12/20/91 17:07 EST
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Publication:PR Newswire
Date:Dec 20, 1991
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