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GAINSCO, INC. NAMES JACK L. JOHNSON TO ITS BOARD OF DIRECTORS

 FORT WORTH, Texas, Aug. 17 /PRNewswire/ -- GAINSCO, INC. (AMEX: GNA) announced today that Jack L. Johnson, 59 years old, has been named to its Board of Directors. Mr. Johnson is senior vice president for underwriting at GAINSCO, a position he has held since 1984. From 1979 to 1984, Mr. Johnson served as a vice president of the company. Mr. Johnson fills a vacant position on the board.
 Prior to joining GAINSCO, Mr. Johnson worked at Sentry Insurance for sixteen years in various positions, including claims adjuster and regional underwriting manager. Among his industry activities, Mr. Johnson has served as a director of the New Mexico Property and Casualty Guaranty Fund, and as a member of the Texas Assigned Risk Pool Governing Committee. He is also a past president of the Fort Worth chapter of Certified Property and Casualty Underwriters.
 Joseph D. Macchia, chairman, president and chief executive officer of GAINSCO, said, "We are pleased to have Jack Johnson join the Board of Directors at GAINSCO. We will be well served by his strong industry experience."
 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- 8/17/93
 /CONTACT: Lynn Morgen, or Edward Nebb, 212-850-5600, both of Morgen-Walke Associates, for GAINSCO, INC./
 (GNA)


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

LD-MG -- NY006 -- 3357 08/17/93 07:30 EDT
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Publication:PR Newswire
Date:Aug 17, 1993
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