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FIRST DEPOSIT RECEIVES RATING UPGRADE FROM THOMSON BANKWATCH

 LOUISVILLE, Ky., May 14 /PRNewswire/ -- The issuer rating for First Deposit Corporation, the primary operating unit of Capital Holding Corporation's (NYSE: CPH) Banking Group, has been upgraded by Thomson BankWatch, Inc. from B to A/B.
 BankWatch also affirmed its highest rating for short-term obligations, TBW-1, for First Deposit and its principal operating units, First Deposit National Bank and First Deposit National Credit Card Bank. BankWatch, formerly a division of Keefe, Bruyette & Woods, Inc., is a rating agency which exclusively monitors financial institutions.
 According to a BankWatch statement, "The company has been enjoying strong profitability in recent years due to its focused approach to the consumer lending business, particularly credit cards." BankWatch also cited First Deposit's wide net interest margins and strengthened capital position as well as control of its operating expenses. BankWatch also noted First Deposit's increasingly important contribution to Capital Holding's financial results.
 "We view Thomson BankWatch's rating upgrade as another confirmation of First Deposit's solid performance, prudent management, and competitive advantage," said Shailesh Mehta, president of Capital Holding's Banking Group.
 Capital Holding Corporation, with $21.8 billion in assets, is a leading provider of consumer financial services including insurance, consumer loan and annuity and pension products. The corporation offers these and other financial services and products primarily through agents, direct-marketing media and investment professionals. Its common stock is listed on the New York and Pacific stock exchanges under the ticker symbol CPH; its Series F preferred stock is listed on the New York Stock Exchange as CPHF.
 -0- 5/14/93
 /CONTACT: Bonnie Otto, Capital Holding Corporation, 502-560-3019, or Laurie Cole, First Deposit Corporation, 415-627-0844/
 (CPH)


CO: Capital Holding Corporation; First Deposit Corporation ST: Kentucky IN: INS FIN SU:

SB -- CH005 -- 8729 05/14/93 15:19 EDT
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Publication:PR Newswire
Date:May 14, 1993
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