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JEFFERSON-PILOT SHAREHOLDER PROPOSES CONFIDENTIAL VOTING AND GREENMAIL LIMITATIONS

 JEFFERSON-PILOT SHAREHOLDER PROPOSES CONFIDENTIAL VOTING
 AND GREENMAIL LIMITATIONS
 GREENSBORO, N.C., Dec. 16 /PRNewswire/ -- "To enhance management accountability and foster an atmosphere of creativity and competitiveness" at Jefferson-Pilot Corporation (NYSE: JP), a long-term shareholder has proposed a new by-law calling for confidential voting and limitations on management's ability to pay greenmail.
 The proposal, delivered to JP last week (12/12) by Resources Planning Corporation (RPC) of Pawleys Island, S.C., would permit JP shareholders to vote "without fear of management coercion" by requiring that proxy votes be counted by an independent third party and kept secret from management.
 The by-law would also limit management's ability to pay "greenmail," an above-market premium paid to buy back stock from shareholders who threaten management's exclusive control of the corporation. "Greenmail is really a form of blackmail," explained RPC vice chairman Craig Redwine.
 Shareholders should be able to vote on the proposal at JP's May 1992 annual meeting.
 Redwine explained that under JP's current nonconfidential voting system, management can find out how shareholders have voted prior to a shareholder meeting. "If results are not consistent with management's desires, shareholders who have voted the 'wrong way' can be contacted in an attempt to 'persuade' them to change their vote.
 "Nonconfidential voting could provide management with a powerful coercive tool," Redwine said. "Anyone doing business with JP may be afraid to vote against management's recommendations. Employees are uniquely defenseless against such coercion."
 By requiring that an independent inspector count proxy votes and keep them secret, "our proposal will guarantee shareholders' privacy and ensure the integrity of the JP voting process," Redwine said. "The secret ballot is the cornerstone of our democratic system and should be provided in corporate voting for the same reasons."
 Concerning the greenmail-limitations of the proposed by-law, RPC noted in its letter to JP that a number of states have adopted laws regulating greenmail.
 "Until North Carolina adopts such a statute, we want JP to have a clear policy that discourages would-be corporate raiders and quick-buck artists, and keeps control in the hands of shareholders."
 At a number of American corporations, management has spent millions of company dollars at shareholder expense to buy back stock from raiders at inflated prices in order to preserve the executives' corporate power.
 "Under our proposal, JP could only buy back stock at an above-market price if shareholders approve the deal," Redwine explained. "If shareholders aren't asked to approve the deal, they must all be offered the same price, or the deal is off."
 "We believe our proposed by-law will give shareholders a greater voice in significant policy decisions and lead to enhanced management accountability at Jefferson-Pilot," he concluded. (Editors: Additional information about RPC follows, as required by the SEC. If Mr. Redwine is unavailable to answer questions, contact Lawrimore Communications at 704-525-4775.)
 INFORMATION CONCERNING THE JEFFERSON-PILOT SHAREHOLDERS COMMITTEE
 As required by the Securities and Exchange Commission (SEC), listed below are the names, principal occupations or employment, and business addresses of each member of The Jefferson-Pilot Shareholders Committee. Also provided is the name and description of the principal business of any corporation or other organization at which such employment occurs. The number of shares of common stock of Jefferson-Pilot Corporation (JP) beneficially owned (that is, owned directly or indirectly) by each committee member is also noted.
 LOUISE PRICE PARSONS is Chairman of Litchfield Plantation Company, a real estate development company at P.O. Box 290, Pawley's Island, S.C., 29585. Mrs. Parsons beneficially owns 300,000 shares of JP common stock and disclaims beneficial ownership of any JP common stock beneficially owned, or deemed to be beneficially owned, by Mr. Parsons or Resources Planning Corporation (RPC).
 RESOURCES PLANNING CORPORATION is a management consulting firm with principal office at P.O. Box 290, Pawley's Island, S.C., 29585. RPC beneficially owns, or is deemed to beneficially own, 341,600 shares of JP common stock. RPC disclaims beneficial ownership of any JP common stock beneficially owned by Mrs. Parsons.
 J. CRAIGHILL REDWINE is Vice Chairman and Director of RPC, a management consulting firm, at RPC's office at 112 S. Tryon St., Charlotte N.C. 28284. In connection with his employment by RPC, Mr. Redwine was granted an option to purchase 15,000 shares of JP's common stock owned by RPC. One-third of the option is currently exercisable, with an additional one third vesting on April 15, 1992, and one third on May 31, 1993, assuming satisfactory performance. Upon the occurrence of certain conditions, the vesting of the option may accelerate. Mr. Redwine disclaims beneficial ownership of any JP common stock beneficially owned, or deemed to be beneficially owned, by RPC other than these 15,000 shares.
 DONALD H. PARSONS is Chairman, President and Director of RPC at P.O. Box 290, Pawley's Island, S.C., 29585. Mr. Parsons disclaims beneficial ownership of any JP common stock, including any beneficially owned, or deemed to be beneficially owned, by Mrs. Parsons or RPC (12/16/91).
 -0- 12/16/91
 /CONTACT: Craig Redwine of Resources Planning Corporation, 704-376-3519, or (if Redwine is unavailable) Lawrimore Communications, 704-525-4775/
 (JP) CO: Jefferson-Pilot Corporation; Resources Planning Corporation ST: North Carolina IN: INS TLS SU:


CM -- CH006 -- 2509 12/16/91 12:12 EST
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Date:Dec 16, 1991
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