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INTEGON MOVES FORWARD WITH INITIAL PUBLIC OFFERING

 INTEGON MOVES FORWARD WITH INITIAL PUBLIC OFFERING
 WINSTON-SALEM, N.C., Jan. 21 /PRNewswire/ -- Integon Corporation announced today that on Thursday, January 16, 1992, it had filed an amended registration statement with the Securities and Exchange Commission for an initial public offering of 6.5 million shares of its common stock at a price between $13.50 and $16.00 per share. Representatives of the company will begin a series of presentations to securities analysts and institutional investors in selected cities in the United States and in Europe.
 Concurrent with the public offering, Integon will be divided into two operating entities: the property and casualty insurance operations, which will be owned by Integon Corporation, whose stock is the subject of the public offering, and the life insurance operations. The current owners will maintain controlling interest in the public company and will retain full ownership of the life insurance operations.
 Underwriters for the planned offering will be led by Smith Barney, Harris Upham & Company, Incorporated and Donaldson, Lufkin & Jenrette Securities Corporation.
 The property and casualty insurance subsidiaries of Integon Corporation are Integon General Insurance Corporation, Integon Indemnity Insurance Corporation, New South Insurance Company and Integon Specialty Insurance Company, which together are licensed in 35 states. The life insurance subsidiaries are Integon Life Insurance Corporation and Georgia International Life Insurance Company, which together are licensed in 47 states.
 -0- 1/21/92
 /CONTACT: Turner Coley of Turner Coley Associates, 919-760-3000, for Integon Corporation// CO: Integon Corporation ST: North Carolina IN: INS SU: OFR


BR-CM -- CH004 -- 1739 01/21/92 10:52 EST
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Publication:PR Newswire
Date:Jan 21, 1992
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