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JEFFERSON-PILOT'S LARGEST SHAREHOLDER SUPPORTS SHAREHOLDER GROUP IN PROXY FIGHT

 JEFFERSON-PILOT'S LARGEST SHAREHOLDER SUPPORTS
 SHAREHOLDER GROUP IN PROXY FIGHT
 CHARLOTTE, N.C., April 15 /PRNewswire/ -- The Jefferson-Pilot Shareholders Committee (JPSC) has received a major boost in its proxy fight with Jefferson-Pilot Corp. (NYSE: JP) by gaining the support of one of JP's largest shareholders.
 The shareholder, who asked not to be identified by name at this time, is an investment management firm for large institutional shareholders.
 "We're extremely pleased with this development," said Craig Redwine of Charlotte, JPSC vice chairman. "Their commitment gives our effort added strength and momentum. We expect other major shareholders to support us as we approach the annual meeting May. 4."
 The JPSC is seeking through its proxy contest to have its slate of seven independent directors elected, several corporate governance reforms approved, and a management request defeated that would have shareholders ratify JP's 1990 stock-grant amendment.
 The amendment allowed the JP Board, including CEO Roger Soles, to receive over 200,000 shares of JP stock currently worth approximately $11 million. But a federal judge Friday (4/10) declared all proxies cast in favor of the stock-option amendment null and void and rescinded the improperly distributed shares.
 -0- 4/15/92
 /CONTACT: Peter Rosenthal or David Sternstein of Howard J. Rubenstein Associates, 212-489-6900, for Jefferson-Pilot Shareholders Committee, or Buck Lawrimore of Lawrimore Communications, 704-525-4775/
 (JP) CO: Jefferson-Pilot Shareholders Committee; Jefferson-Pilot Corp ST: North Carolina IN: INS SU: TNM


KD-SM -- NY111 -- 8912 04/15/92 16:34 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
Words:241
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