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CIGNA COMPANIES AND AIM MANAGEMENT GROUP CEMENT STRATEGIC ALLIANCE

 CIGNA COMPANIES AND AIM MANAGEMENT GROUP CEMENT STRATEGIC ALLIANCE
 PHILADELPHIA, June 30 /PRNewswire/ -- The CIGNA (NYSE: CI) Companies and Houston-based AIM Management Group have established a strategic alliance with respect to mutual funds and insurance-related products for the retail market.
 As part of that arrangement, AIM will serve as investment advisor for and distributor of mutual funds formerly part of the CIGNA Funds Group.
 This alliance has given CIGNA's individual life agency force access to AIM's broad base of mutual funds, strong customer service and marketing support, and is expected to generate new financial products, such as a variable annuity that combines the expertise of both companies.
 "Adding AIM's highly regarded mutual funds to CIGNA's will offer CIGNA's national sales force expanded capabilities to satisfy the financial planning needs of its target market of small business owners, executives and professionals," said George Trumbull, president of CIGNA's Individual Financial Services Division.
 "AIM is one of the 25 largest mutual fund management companies in the United States, with more than $18 billion under management. This alliance with the CIGNA funds will enable us to offer the market an expanded family of established funds with strong, proven track records," said Ted Bauer, AIM Management Group chairman. AIM also manages institutional funds used by the trust departments of many of the nation's leading banks.
 Following the transaction with AIM, CIGNA Investments, Inc. will continue to advise six annuity funds and two closed-end funds, CIGNA High Income Shares and INA Investment Securities, Inc., which are not included in this transaction.
 The CIGNA companies are leading providers of insurance, health care, employee benefits, pension and investment management, and related financial services to businesses and individuals, worldwide.
 /delval/
 -0- 6/30/92
 /CONTACT: Michael J. Monroe, vice president-corporate relations of CIGNA, 215-761-6133, or Robert Graham, president of AIM, 713-626-1919/
 (CI) CO: CIGNA Companies; AIM Management Group ST: Pennsylvania, Texas IN: INS SU:


JS -- PH021 -- 5200 06/30/92 13:11 EDT
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Publication:PR Newswire
Date:Jun 30, 1992
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