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JMC SIGNS AGREEMENT WITH SUMITOMO BANK OF CALIFORNIA

 SAN DIEGO, June 14 /PRNewswire/ -- JMC Group, Inc. (NASDAQ: JMCG), formerly Spear Fii?al Services, Inc., today announced that its wholly-owned subsidiary, James Mitchell & Co., has signed an agreement to market mutual funds and annuities to customers of San Francisco-based Sumitomo Bank of California. Under the agreement, James Mitchell & Co. will begin its marketing efforts in September, 1993, by which time the company expects to be fully operational in all 48 branches of Sumitomo, the seventh largest bank in the state.
 "With more than $5 billion in total assets, Sumitomo Bank of California will become a major client of our company," said James K. Mitchell, chairman and chief executive officer, "Sumitomo will be our third largest client and our largest west of the Mississippi. We are delighted to be associated with this fine institution and look forward to generating the same type of results we've been able to develop for our other financial institution clients," he added
 "I am excited about our partnership with James Mitchell & Co.," said Tadaichi Ikegawa, president and chief executive officer of Sumitomo Bank. "Our customers will benefit form better service and increased investment opportunities, and, as a bank, we will be able to retain the customer relationships that are so valuable to us."
 JMC Group, Inc., through its subsidiary, James Mitchell & Co., is a leading marketer of annuities, life insurance and mutual funds to customers of financial institutions.
 -0- 6/14/93
 /CONTACT: James K. Mitchell, chairman and chief executive officer of JMC Group, Inc., 619-450-0055, or Doug Sherk, or Jenifer Kirtland, 415-296-7383, or Michele Katz, or Miriam Adler, 212-850-5600, all of Morgen-Walke Associates for JMC Group, Inc./
 (JMCG)


CO: JMC Group, Inc., Sumitomo Bank of California ST: California IN: FIN SU:

LD -- NY002 -- 1371 06/14/93 06:30 EST
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Publication:PR Newswire
Date:Jun 14, 1993
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