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KEMPER CORP. REAFFIRMS COMMITMENT TO KEMPER SECURITIES; UNIT WILL REMAIN PART OF CORPORATE STRUCTURE

 LONG GROVE, Ill., June 15 /PRNewswire/ -- The management of Kemper Corp. (NYSE: KEM) today said Kemper Securities Inc., its brokerage operations, is not for sale.
 "Kemper Securities has made considerable progress in improving its operating performance," David B. Mathis, chairman and chief executive officer of Kemper Corp., said in a nationwide conference call to employees. "We are committed to Kemper Securities, its management team and their business plans."
 Mathis said Kemper plans to position Kemper Securities this year in a manner that allows its management team to demonstrate better the operating performance of the unit. He also said management is currently working on a program in which employees will be offered the opportunity of equity participation in the newly positioned brokerage operations.
 On May 27, Kemper Corp. announced that it was reviewing a number of inquiries and expressions of interest from parties interested in acquiring the brokerage operations.
 "We had a responsibility to our shareholders to evaluate thoroughly these offers. As far as we're concerned, now this episode is over. The review process over the past few weeks confirmed to us the greatest value to our shareholders as well as our employees is in retaining and growing Kemper Securities," said Stephen B. Timbers, president and chief operating officer of Kemper Corp.
 "The offers simply didn't reflect the value inherent in this company and
its long-term prospects," Timbers said. He noted the brokerage operations showed improved results in the first-quarter of 1993, compared with the same period in the prior year.
 James R. Boris, chairman and chief executive officer of Kemper Securities, said he was pleased with Kemper Corp.'s decision to retain the brokerage operations. "Kemper Securities has made so much progress over the past two years, and this decision strengthens our efforts to achieve the type of profitability we expect.
 "I'm especially happy that this decision will keep Kemper Securities intact and does not result in a loss of jobs. By staying with Kemper Securities, employees will have the dual advantage of a strong, committed parent and equity participation in their own company," Boris added.
 Mathis concluded by saying the review process also reconfirmed that the asset management, life insurance and securities brokerage businesses complement each other. "Taken together, these businesses make Kemper Corp. a strong financial services company," he said.
 Kemper Corp. is a nonoperating holding company with principal subsidiaries in asset management, life insurance and securities brokerage.
 -0- 6/15/93
 /CONTACT: Janice Kalmar, 708-320-4465, or Ira Nathanson, 312-499-8831, both of Kemper Corp./
 (KEM)


CO: Kemper Corp.; Kemper Securities Inc. ST: Illinois IN: INS FIN SU:

TS -- NY034 -- 2042 06/15/93 10:38 EDT
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Publication:PR Newswire
Date:Jun 15, 1993
Words:438
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