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COLLATERAL INVESTMENT SIGNS LETTER OF INTENT TO ACQUIRE SOUTHERN EDUCATORS LIFE INSURANCE

 COLLATERAL INVESTMENT SIGNS LETTER OF INTENT TO ACQUIRE
 SOUTHERN EDUCATORS LIFE INSURANCE
 NORCROSS, Ga., June 9 /PRNewswire/ -- I.F. Williams Sr., chairman of the board and president of Southern Educators Life Insurance Company (NASDAQ: SOED), Norcross, Ga., and William T. Ratliff III, president of Collateral Investment Corp., Birmingham, Ala., (CIC) today jointly announced that their companies had signed a letter of intent for CIC to acquire 100 percent of the outstanding stock of Southern Educators.
 The letter of intent is subject to approval of a definitive merger agreement by the Southern Educators board of directors and stockholders, as well as approval by all required regulatory authorities.
 Commenting on the proposed acquisition, Ratliff said: "We believe that combining with Southern Educators will materially enhance our insurance marketing operations and complement our lending capabilities. We will be able to strengthen their student loan practices, and together we can achieve significantly increased marketing potential in the states in which we operate." Williams added, "We long have felt that we needed a strong financial partner to allow us to move ahead aggressively in meeting the college cost planning needs of our insured families, and this move also will provide a fair return to our long-term stockholders."
 CIC is a Delaware holding company with insurance subsidiaries based in Alabama and North Carolina. CIC's affiliates, Collateral Mortgage, Ltd. and New South Federal Savings Bank, are engaged in residential mortgage lending and savings bank activities. Southern Educators is a specialty life insurer exclusively marketing programs that fund the costs of higher education.
 -0- 6/9/92
 /CONTACT: Ferrell E. White, director of communications and marketing services for Southern Educators, 404-449-4951, ext. 224, or 800-221-1012/
 (SOED) CO: Southern Educators Life Insurance Company; Collateral Investment
 Corp. ST: Georgia, Alabama IN: INS SU: TNM


EA-BN -- AT006 -- 8425 06/09/92 14:58 EDT
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Publication:PR Newswire
Date:Jun 9, 1992
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