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FIRST COLONY FILES SHELF REGISTRATION STATEMENT WITH SEC

 LYNCHBURG, Va., May 19 /PRNewswire/ -- First Colony Corporation (NYSE: FCL) announced today that it has filed a shelf registration statement with the Securities and Exchange Commission covering up to $255 million of debt securities and non-convertible preferred stock to be offered from time to time.
 The company intends to use the net proceeds from any sale of securities to make repayments on its $250 million bank debt.
 First Colony Corporation, through its subsidiaries, First Colony Life Insurance Company and American Mayflower Life Insurance Company of New York, sells individual life insurance and annuity products throughout the United States, including a portfolio of annual premium and single premium life insurance, single premium immediate annuities and single premium deferred annuities. First Colony Life was founded in 1955.
 -0- 5/19/93
 /CONTACT: Frank G. Land of First Colony Communications, 804-948-5293/
 (FCL)


CO: First Colony Corporation ST: Virginia IN: INS SU:

DC-TW -- DC025 -- 0472 05/19/93 16:51 EDT
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Publication:PR Newswire
Date:May 19, 1993
Words:157
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