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JEFFERSON-PILOT TO APPEAL PARTIAL SUMMARY JUDGMENT ORDER

 JEFFERSON-PILOT TO APPEAL PARTIAL SUMMARY JUDGMENT ORDER
 GREENSBORO, N.C., March 31 /PRNewswire/ -- Jefferson-Pilot Corporation (NYSE: JP) announced that the United States District Court for the Middle District of North Carolina today allowed Louise Price Parsons' motion for partial summary judgment in her litigation against the corporation and certain of its directors and senior officers and enjoined the recipients from voting stock issued via the 1990 amendment to the corporation's stock option plan and further enjoined any transfer, disposition, pledge, hypothecation, or sale of said stock by them. The judgment provided that a formal judgment and memorandum opinion will be issued in due course and would be in lieu of its judgment today.
 A spokesperson for the corporation stated that the corporation believes that the court erred in granting Parsons' request for partial summary judgment and indicated that the corporation plans to appeal this ruling.
 As the corporation has previously announced, shareholders will be asked at the 1992 annual meeting, scheduled to be held on May 4, 1992, to clear up the issues raised by this litigation by ratifying the earlier adoption if the 1990 amendment. According to a spokesman for the corporation, the court's ruling will have no effect upon the ratification proposal.
 Earlier this week, the corporation mailed to its shareholders proxy materials to be used in connection with the 1992 annual meeting that describe the Parsons' lawsuit and the 1990 amendment in detail. If the shareholders approve the ratification proposal, the corporation will ask the court that is hearing the case to resolve all outstanding issues in favor of the corporation and the other defendants.
 -0- 3/31/92
 /CONTACT: John Still of Jefferson-Pilot Corporation, 919-691-3382/
 (JP) CO: Jefferson-Pilot Corporation ST: North Carolina IN: INS SU:


PS-AH -- NY101 -- 3670 03/31/92 19:01 EST
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Publication:PR Newswire
Date:Mar 31, 1992
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