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JEFFERSON-PILOT CORPORATION ANNOUNCES DIVIDEND INCREASE AND BOARD CHANGES

 GREENSBORO, N.C., Feb. 8 /PRNewswire/ -- Jefferson-Pilot Corporation (NYSE: JP) today approved a 14.7 percent increase in the company's cash dividend for the second quarter to a new rate of $0.39 per share, up from $0.34 per share. Shareholders of record May 14, 1993 will receive the higher dividend beginning with the June 4, 1993 payment.
 The company also announced several changes in its Board of Directors. David A. Stonecipher and Hugh L. McColl, Jr. have been elected Directors of the Corporation. Stonecipher is Jefferson-Pilot's President and Chief Executive Officer-elect and will become CEO on March 1, 1993. McColl is President and Chief Executive Officer of NationsBank Corporation (NYSE: NB). These new Directors replace Robert H. Koonts and C.D. Spangler, who have resigned from the Board.
 The company further announced that William P. Payne has been nominated for election to the Corporation's Board at Jefferson-Pilot's annual shareholders' meeting on May 3, 1993. Payne is President and Chief Executive Officer of the Atlanta Committee for the Olympic Games. On his election, he will assume the Board seat currently held by W. Roger Soles, who is not standing for reelection at the Corporation's annual meeting. Soles is retiring March 1, 1993 as Jefferson-Pilot's Chairman and Chief Executive Officer.
 Jefferson-Pilot's Board of Directors also elected as its Chairman Robert H. Spilman, effective March 1, 1993. Spilman is Chairman of the Board and Chief Executive Officer of Bassett Furniture Industries, Inc. (NASDAQ-NMS: BSET) and has served as a Director of the Corporation for eight years. The Corporation's Chairman will act in a non-officer role.
 -0- 2/8/93
 /CONTACT: John T. Still, III, 919-691-3382, or William H. Chenoweth, 919-691-3390, both of Jefferson-Pilot Corporation/
 (JP NB BSET)


CO: Jefferson-Pilot Corporation ST: North Carolina IN: INS TLS SU: DIV

SB -- CH015 -- 4295 02/08/93 17:02 EST
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Publication:PR Newswire
Date:Feb 8, 1993
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