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EXECUTIVE LIFE MUNI GIC RESTRUCTURED ACCOUNT VALUE INFORMATION RELEASED

 SAN FRANCISCO, Jan. 7 /PRNewswire/ -- The following was released today by Pillsbury Madison & Sutro at the request of Commercial National Bank in Shreveport, La., and other municipal bond indenture trustees represented by the Pillsbury law firm (the "Trustees").
 The proceeds of the municipal bond issues listed below were invested in guaranteed investment contracts ("GICs") issued by Executive Life Insurance Company of Los Angeles ("ELIC") pending their disbursement for other purposes. ELIC is currently in court-supervised rehabilitation proceedings which have resulted in a Rehabilitation Plan, which closed on September 3, 1993. The Trustees, who are policyholders under the Rehabilitation Plan, are in litigation with the Insurance Commissioner of the State of California (the "Commissioner") challenging the Rehabilitation Plan.
 The Rehabilitation Plan requires that the Commissioner provide each ELIC policyholder with a Contract Value Summary listing the policyholder, policy number, Aurora Account Value, First Opt-Out Payment and Holdback Amount (all as defined in the Rehabilitation Plan). The Commissioner has provided the Trustees Contract Value Summaries which show the numbers listed hereafter.
 The Contract Value Summaries have been prepared solely by the Commissioner. The information therein is being disseminated at the request of certain parties. The Trustees are not responsible for the accuracy of such information. Future events, including pending litigation, could materially affect or make irrelevant the information contained in the Contract Value Summaries. Further information on the entire opt-in/opt-out election process under the Rehabilitation Plan will be sent to the registered owners of bonds by the Trustees.
 CONTRACT VALUE SUMMARY INFORMATION BY BOND ISSUE
 $150,000,000 Louisiana Housing Agency Securitized Multi-family Housing Revenue Bonds Series 1986A, trustee, COMMERCIAL NATIONAL BANK IN SHREVEPORT;
 CUSIP No. 546265PL7
 Policy number CG01158A2A
 Total estimated Aurora Account Value $93,847,052.46
 Interest Rate after 2/27/94 5.610%
 Total estimated First Opt-Out Payment $61,369,077.70
 The amount above is after deduction
 of the Holdback Amount of $17,643,010.76
 $300,000,000 Adams County, Colorado Industrial Development Revenue Bonds Series 1986A, trustee, FIRST INTERSTATE BANK OF DENVER, N.A.;
 CUSIP No. 005614DS8
 Policy number CG01183A2A
 Total estimated Aurora Account Value $188,525,220.14
 Interest Rate after 2/27/94 5.610%
 Total estimated First Opt-Out Payment $121,400,388.11
 The amount above is after deduction
 of the Holdback Amount of $36,464,223.60
 $150,000,000 Louisiana Agricultural Finance Authority Securitized Agricultural Revenue Bonds Series 1986A, trustees, SUNBURST BANK AND PREMIER BANK, N.A. (CO-TRUSTEES);
 CUSIP No. 546418AC8
 Policy number CG01175A2A
 Total estimated Aurora Account Value $93,279,839.64
 Interest Rate after 2/27/94 5.610%
 Total estimated First Opt-Out Payment $61,239,552.60
 The amount above is after deduction
 of the Holdback Amount of $17,405,245.65
 $150,000,000 Louisiana Agricultural Finance Authority 8.25% Agricultural Revenue Bonds Series 1986A,trustees, SUNBURST BANK AND PREMIER BANK, N.A. (CO-TRUSTEE);
 CUSIP No. 546418AB0
 Policy number CG01172A2A
 Total estimated Aurora Account Value $94,766,753.17
 Interest Rate after 2/27/94 5.610%
 Total estimated First Opt-Out Payment $62,662,866.45
 The amount above is after deduction
 of the Holdback Amount of $17,439,794.91
 $400,000,000 The Health, Educational and Housing Facility Board of the City of Memphis, Tennessee 8.68% Securitized Multifamily Housing Revenue Bonds Series 1986A, trustee, FIRST TENNESSEE BANK NATIONAL ASSOCIATION;
 CUSIP No. 586169AN4
 Policy number CG01173A2A
 Total estimated Aurora Account Value $249,042,375.98
 Interest Rate after 2/27/94 5.610%
 Total estimated First Opt-Out Payment $163,441,602.03
 The amount above after deduction
 of the Holdback Amount of $46,500,909.83
 $300,000,000 The Southeast Texas Housing Finance Corporation Securitized Multifamily Housing Revenue Bonds Series 1986A, trustee, NATIONSBANK OF TEXAS, N.A.;
 CUSIP No. 841514AU6
 Policy number CG01169A2A
 Total estimated Aurora Account Value $186,947,677.28
 Interest Rate after 2/27/94 5.610%
 Total estimated First Opt-Out Payment $122,598,423.17
 The amount above is after deduction
 of the Holdback Amount of $34,956,446.36
 $100,000,000 Nebraska Investment Finance Authority Agricultural Revenue Bonds Series 1986A, trustee, NORWEST BANK MINNESOTA, N.A.;
 CUSIP No. 63967HAA9
 Policy number CG01187A2A
 Total estimated Aurora Account Value $63,250,219.85
 Interest Rate after 2/27/94 5.610%
 Total estimated First Opt-Out Payment $41,109,628.33
 The amount above is after deduction
 of the Holdback Amount of $12,027,433.89
 Policy number CG01187B2A
 Total estimated Aurora Account Value $50,801.28
 Interest Rate after 2/27/94 5.610%
 Total estimated First Opt-Out Payment $33,385.61
 The amount above is after deduction
 of the Holdback Amount of $9,460.71
 $100,000,000 Nebraska Investment Finance Authority Agricultural Revenue Bonds, Series 1986B, trustee, NORWEST BANK MINNESOTA, N.A.
 CUSIP No. 63967HAB7
 Policy number CG01188A2A
 Total estimated Aurora Account Value $79,546,634.49
 Interest Rate after 2/27/94 6.580%
 Total estimated First Opt-Out Payment $52,335,878.35
 The amount above is after deduction
 of the Holdback Amount of $14,781,699.50
 Policy number CG01188B2A
 Total estimated Aurora Account Value $45,469.06
 Interest Rate after 2/27/94 6.580%
 Total estimated First Opt-Out Payment $31,501.21
 The amount above is after deduction
 of the Holdback Amount of $7,587.75
 -0- 1/7/94
 /CONTACT: Robert Wallan of Pillsbury Madison & Sutro, 213-488-7163/


CO: Pillsbury Madison & Sutro ST: California IN: FIN SU:

TM-LD -- NY006 -- 0047 01/07/94 09:02 EST
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