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COTTON STATES LIFE AND HEALTH INSURANCE COMPANY REPORTS RECORD OPERATING EARNINGS FOR 1992

 ATLANTA, Feb. 24 /PRNewswire/ -- Cotton States Life and Health Insurance Company (NASDAQ: CSLH) today reported record earnings from operations (earnings excluding realized investment gains or losses) of $2,018,597, or $.78 per share, compared to $966,977, or $.37 per share, for 1991.
 Total earnings for 1992 were $2,018,597, or $.78 per share, as compared to $1,292,026, or $.49 per share, in 1991. Earnings for the fourth quarter of 1992 were $.07 per share, the same as the fourth quarter of 1991. Earnings for the fourth quarter of 1992 included realized investment losses of $437,000 compared to realized investment losses of $221,000 in the fourth quarter of 1991.
 President and CEO J. Ridley Howard said that the record operating earnings resulted from lower expenses and the improved operations of CS Marketing Resources, a brokerage subsidiary.
 Howard also announced that the board of directors declared a quarterly dividend of $.03 per share payable on April 1 to stockholders of record on March 15.
 Cotton States Life and Health Insurance Company is licensed to sell life insurance in Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. Its common shares are traded over-the-counter under the NASDAQ symbol CSLH.
 COTTON STATES LIFE AND HEALTH INSURANCE COMPANY
 Consolidated Summary of Earnings
 12 mos. ended Dec. 31 1992 1991
 Income:
 Premiums $ 9,671,662 $ 9,444,004
 Mortality and expense
 charges earned 4,803,708 4,314,299
 Investment income 6,214,635 5,856,416
 Realized invstmt. gains (losses) --- 411,455
 Brokerage and other income 896,475 801,726
 Total income 21,586,480 20,827,900
 Benefits and expenses:
 Life benefits and claims 9,578,289 9,027,887
 A&H benefits and claims 3,350,639 3,378,576
 Amortization of policy
 acquisition costs 1,324,947 1,281,405
 Operating expenses 4,869,008 5,495,006
 Total benefits and expenses 19,122,883 19,182,874
 Earnings before federal
 income taxes 2,463,597 1,645,026
 Federal income taxes 445,000 353,000
 Net earnings $ 2,018,597 $ 1,292,026
 Earnings per share of
 common stock: $ .78 $ .49
 Weighted average number of
 shares used in computing
 earnings per share 2,590,925 2,624,168
 3 mos. ended Dec. 31 1992 1991
 Income:
 Premiums $3,822,529 $3,288,475
 Mortality and expense
 charges earned 1,492,737 887,156
 Investment income 1,553,938 1,400,060
 Realized invstmt. gains (losses)(436,860) (226,309)
 Brokerage and other income 358,235 221,135
 Total income 6,790,579 5,570,517
 Benefits and expenses:
 Life benefits and claims 3,932,990 3,131,891
 A&H benefits and claims 906,521 821,502
 Amortization of policy
 acquisition costs 497,957 219,976
 Operating expenses 1,375,679 1,143,081
 Total benefits and expenses 6,713,147 5,316,450
 Earnings before federal
 income taxes 77,432 254,067
 Federal income taxes (65,000) 75,321
 Net earnings $ 142,432 $ 178,746
 Earnings per share of
 common stock: $ .07 $ .07
 Weighted average number of
 shares used in computing
 earnings per share 2,590,925 2,624,168
 -0- 2/24/93
 /CONTACT: Gary W. Meader, senior vice president/treasurer, 404-391-8786, or Cindy S. Coker, vice president, secretary, general counsel, 404-391-8769, both of Cotton States/
 (CSLH)


CO: Cotton States Life and Health Insurance Company ST: Georgia IN: INS SU: ERN

RA-BN -- AT007 -- 0014 02/24/93 15:11 EST
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Date:Feb 24, 1993
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