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COLONIAL GROUP AUTHORIZES REPURCHASE OF STOCK

 COLONIAL GROUP AUTHORIZES REPURCHASE OF STOCK
 BOSTON, June 2 /PRNewswire/ -- The Colonial Group, Inc. (NASDAQ: COGRA), which is primarily involved in the investment management and distribution of mutual funds, today announced that its board of directors had authorized the repurchase of an additional $10 million of its Class A non-voting common stock.
 An official of the company reported the following: the board of directors has authorized to date the repurchase of $24 million in stock. Including an agreement to purchase stock from the estate of a former employee, the company has purchased approximately $18,140,000 of its Class A non-voting common stock. To the extent that the price continues to be attractive and shares become available, the company intends to continue its long-term program to repurchase company stock.
 -0- 6/2/92
 /CONTACT: Davey S. Scoon of The Colonial Group, 800-225-2365/
 (COGRA) CO: The Colonial Group, Inc. ST: Massachusetts IN: FIN SU:


SH -- NE012 -- 6361 06/02/92 16:15 EDT
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Publication:PR Newswire
Date:Jun 2, 1992
Words:162
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