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CAPITAL GUARANTY BEGINS PRESENTATIONS FOR INITIAL PUBLIC OFFERING

 SAN FRANCISCO, Sept. 9 /PRNewswire/ -- Capital Guaranty Insurance Co. says it has begun its international and national presentations in connection with its initial public offering of 5.0 million shares of common stock. A team of senior management members will meet with various institutional investors in Europe and across the United States.
 The seven-year-old company plans to use proceeds from the offering for working capital and other general corporate purposes.
 The offering is being underwritten by Merrill Lynch & Co. and Alex. Brown & Sons.
 Capital Guaranty Insurance Co., whose claims-paying rating ability is rated Aaa by Moody's Investors Service and AAA by Standard & Poor's Corp., insures municipal bonds sold in the new issue and secondary markets. As of June 30, 1993, Capital Guaranty had $13.2 billion net insurance in force. Bond insurance provided by Capital Guaranty facilitates access to the capital required by municipalities for essential public services and the building and renewal of the country's infrastructure.
 -0- 9/9/93
 /CONTACT: Michael F. Gallagher, Capital Guaranty Insurance, 415-995-8016; or Craig A. Parsons, Pondel Parsons & Wilkinson, 310-207-9300/


CO: Capital Guaranty Insurance Co. ST: California IN: INS SU:

JL-MF -- LA007 -- 0153 09/09/93 09:08 EDT
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Publication:PR Newswire
Date:Sep 9, 1993
Words:196
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