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E.W. BLANCH HOLDINGS, INC., BEGINS TRADING ON NEW YORK STOCK EXCHANGE; ANNOUNCES INITIAL PUBLIC OFFERING; TRADING BEGINS TODAY ON NYSE

 MINNEAPOLIS, May 7 /PRNewswire/ -- E.W. Blanch Holdings, Inc. (NYSE: EWB), a reinsurance intermediary which provides services to over 300 insurance companies nationwide, announced today its initial public offering of 4,243,000 shares of common stock at a price of $18.50 per share (representing approximately 31 percent of the common stock to be outstanding after the offering). The underwriters have been granted an option, exercisable for a 30-day period, to purchase up to 636,450 additional shares of common stock.
 The common stock will be listed on the New York Stock Exchange and will be traded under the symbol EWB. The offering is being managed by Salomon Brothers Inc. and Goldman, Sachs & Co. An additional 100,000 shares of common stock are being offered by the company on a non-underwritten basis to certain employees of the company.
 As a reinsurance intermediary, the company structures and arranges reinsurance between insurers seeking to cede insurance risks and reinsurers willing to assume such risks. The company does not underwrite or assume any insurance or reinsurance risk and does not act as a primary insurance broker.
 This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 5/7/93
 /CONTACT: Robert M. Benjamin of E.W. Blanch Holdings, 612-835-3310/
 (EWB)


CO: E.W. Blanch Holdings, Inc. ST: Minnesota IN: INS SU: OFR

AL -- MN001 -- 5839 05/07/93 10:08 EDT
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Publication:PR Newswire
Date:May 7, 1993
Words:272
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