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KEMPER SERVICE COMPANY TO TRANSFER DATA PROCESSING FUNCTION FOR BROKERAGE OPERATIONS TO BETA SYSTEMS

 KEMPER SERVICE COMPANY TO TRANSFER DATA PROCESSING FUNCTION
 FOR BROKERAGE OPERATIONS TO BETA SYSTEMS
 CHICAGO, March 27 /PRNewswire/ -- Kemper Service Company (KSvC) (NYSE: KEM), a subsidiary of Chicago-based Kemper Financial Services, Inc. (KFS), today announced it will transfer the data processing function for the company's brokerage operations to Beta Systems Inc., a service bureau owned by Kemper Securities Group (KSG). The action will result in a net reduction of the KSvC workforce by approximately 38 full-time employees. This is effective mid-summer 1992.
 Frank Diaz, president of KSvC, stressed that the transfer of the data processing function from KSvC to Beta Systems is intended to enhance the overall data processing for Kemper's brokerage segment (Kemper Securities Group), while at the same time provide KSG with further cost savings.
 KSvC will continue to manage the computer network, common financial and personnel systems, and sales and marketing support systems for Kemper's brokerage segment.
 Kemper Service Co. provides operational and systems services and support for Kemper's mutual fund and investment oriented insurance products. Milwaukee-based Beta Systems Inc. licenses software and provides data processing services to other securities firms on a service bureau basis.
 According to Diaz those employees affected by this action will be eligible for a severance package, receive group referral assistance and additional administrative support. The severance package is tied to the length of service. The company is also providing an incentive program for employees to stay through the end of the conversion process.
 "We are taking these extra steps because of the high level of commitment and performance that this group has provided our company in the past," said Diaz.
 KFS is a subsidiary of Kemper Corp. With an employee base of 2,000, the company is one of the nation's largest money managers with more than $67 billion in assets under management.
 -0- 3/27/92
 /CONTACT: Ira Nathanson for Kemper Service, 312-499-8831/
 (KEM) CO: Kemper Service Co.; Beta Systems Inc. ST: Illinois IN: FIN SU:


TS -- NY029 -- 2332 03/27/92 11:44 EST
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Publication:PR Newswire
Date:Mar 27, 1992
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