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JEFFERSON-PILOT CORPORATION MAILS PROXY MATERIALS TO ITS SHAREHOLDERS IN CONNECTION WITH THE UPCOMING ANNUAL MEETING OF SHAREHOLDERS

JEFFERSON-PILOT CORPORATION MAILS PROXY MATERIALS TO ITS SHAREHOLDERS
 IN CONNECTION WITH THE UPCOMING ANNUAL MEETING OF SHAREHOLDERS
 GREENSBORO, N.C., March 30 /PRNewswire/ -- Jefferson-Pilot Corporation (NYSE: JP) announced today that it has mailed proxy materials to its shareholders in connection with the upcoming Annual Meeting of Shareholders to be held on Monday, May 4. Shareholders are being asked to vote for the seven-member slate nominated by the Board of Directors for election to the Corporation's 20-member Board and for the Board's proposal to ratify the 1990 Amendment to the Corporation's Stock Option Plan.
 The 1990 Amendment is the subject of litigation brought by Louise Price Parsons against the Corporation and certain of its directors and officers. The Board is seeking ratification of the 1990 Amendment in order to resolve the issues that have been raised by Parsons and to enable the Corporation to ask the court to end this litigation.
 In addition, Parsons and the Jefferson-Pilot Shareholders Committee have announced that they will solicit proxies for the purpose of electing their own seven-member slate at the Annual Meeting. This slate includes Parsons and her husband Donald Parsons. The Board has rejected this slate, and has written to Shareholders that "the election of the Parsons' slate would jeopardize our ability to continue Jefferson-Pilot's business strategy, and would jeopardize your investment in the Company."
 The Board has nominated the following individuals to stand for election as Class III directors: Joseph M. Bryan, William H. Cunningham, Robert G. Greer, Charles E. Hayworth, Charles W. McCoy, C.D. Spangler, Jr., and Martha A. Walls. The Board's nominees include six of the current Class III directors plus Spangler, a former director who beneficially owns approximately 4 percent of Jefferson-Pilot's outstanding common stock.
 In a letter distributed to shareholders along with the proxy materials, the Board stated that "The nominees are an experienced and diverse group who have contributed greatly to Jefferson-Pilot's results. The Board believes that the current Class III directors, plus Spangler, working together with the other incumbent directors, are best suited to continue the Company's policies and programs and to help the Company achieve its long-term goals."
 -0- 3/30/92
 /CONTACT: John T. Still, III, Jefferson-Pilot Corporation, 919-691-3382/
 (JP) CO: Jefferson Pilot Corporation ST: North Carolina IN: TLS SU:


JZ -- CH002 -- 2905 03/30/92 12:39 EST
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Publication:PR Newswire
Date:Mar 30, 1992
Words:386
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