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KEMPER FINANCIAL SERVICES INTRODUCES EXCLUSIVE FIXED-TERM MATURITY MUTUAL FUND

 KEMPER FINANCIAL SERVICES INTRODUCES EXCLUSIVE
 FIXED-TERM MATURITY MUTUAL FUND
 CHICAGO, July 14 /PRNewswire/ -- Kemper Financial Services, Inc. has announced the offering of an open-end, fixed-maturity mutual fund that will invest primarily in pools of AAA-rated mortgage-backed securities that include Collateralized Mortgage Obligations (CMOs).
 Kemper Target Maturity Income Fund (KTMIF), an exclusive new mutual fund, is designed to return initial investment at maturity in November 1997 while offering higher current income potential than many other conservative investment alternatives.
 The fund has no initial sales charge, although a contingent deferred sales charge of 1 percent will be applied to shares redeemed during the first year. The fund pays a Rule 12b-1 fee.
 "Conservative investors are eager to improve levels of income, without putting their principal at undue risk and without locking up their money for long periods of time. The Kemper Target Maturity Income Fund may be what investors need, precisely when they need it," said Frank Collecchia, one of the fund's portfolio managers.
 With yields on ultra-conservative investments like CDs, U.S. Treasury Bills and money market accounts at low levels, the Kemper Target Maturity Income Fund is designed to address the investor's need for a conservative investment instrument that offers higher income potential.
 "While interest rates have steadily declined over the past few years, CMOs have maintained an attractive yield advantage over 5-year U.S. Treasury bonds and other conservative investments," said Collecchia. "Given this, the fund has the potential to earn more than other conservative investment alternatives."
 The fund offers ready liquidity with a minimum investment of $5,000. The offering period for Series November 1997 began July 1 and will run through July 30 (subject to adjustment). Investors may redeem shares at net asset value (NAV) on any business day, which may be more or less than the original cost.
 "The Kemper Target Maturity Income Fund can be an excellent bridge from super-safe investments to higher yield opportunities since it combines features relatively similar to the super-safes," said Harvey Glassman, senior vice president, product marketing.
 Co-portfolio managers Pat Beimford and Collecchia currently plan to leverage the fund to earn increased income by taking advantage of the steep yield curve.
 "Today's steep yield curve gives us the opportunity to borrow money at low short-term rates and reinvest this money in additional agency CMOs at higher long-term rates that will earn additional income from the spread between the two rates," said Collecchia. "However, there is no assurance that the current opportunity to use such leverage techniques will continue."
 Kemper Financial Services, Inc. (KFS) is one of the nation's largest money managers. KFS has more than $60 bllion in assets under management. It is part of the investment services segment of Kemper Corp., a nonoperating holding company with major subsidiaries in asset management, securities brokerage, life insurance, reinsurance, property-casualty insurance and risk management service.
 -0- 7/14/92
 /CONTACT: Marilyn Morrison, 312-499-8467, or Steve Radis, 312-499-8393, both of Kemper Financial Services/
 (KEM) CO: Kemper Financial Services Inc.; Kemper Corp. ST: Illinois IN: FIN SU: PDT


SM -- NY038 -- 9039 07/14/92 10:59 EDT
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Date:Jul 14, 1992
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