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GAINSCO, INC. ANNOUNCES STOCK REPURCHASE PLAN

 FORT WORTH, Texas, Sept. 15 /PRNewswire/ -- GAINSCO, Inc. (AMEX: GNA) announced today that its board of directors has authorized the repurchase of up to 5 percent of its issued and outstanding shares of common stock. The repurchases will be made, from time to time, on the American Stock Exchange or in privately negotiated transactions, depending on prevailing market conditions and other factors. GAINSCO, Inc. has 16,799,840 shares of its common stock issued and outstanding (as of today).
 GAINSCO, Inc. is a vertically integrated property and casualty insurance holding company specializing in underwriting excess and surplus lines. Its insurance companies are General Agents Insurance Company of America, Inc., MGA Insurance Company, Inc. and GAINSCO County Mutual Insurance Company. The insurance service subsidiaries include General Agents Premium Finance Company, which offers premium financing programs for general agents in connection with their marketing activities; Agents Processing Systems, Inc., which markets a computer software policy management system to general agents; and Risk Retention Administrators, Inc., which assists managing general agents in forming and operating risk retention groups.
 -0- 9/15/93
 /CONTACT: Lynn Morgen or Michele Katz of Morgen-Walke Associates, Inc., 212-850-5600/
 (GNA)


CO: GAINSCO, Inc. ST: Texas IN: INS SU:

CK -- NY050 -- 2232 09/15/93 12:21 EDT
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Publication:PR Newswire
Date:Sep 15, 1993
Words:208
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