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KENTUCKY CENTRAL LIFE AND WHR TERMINATE NEGOTIATIONS

 LEXINGTON, Ky., Feb. 9 /PRNewswire/ -- Kentucky Central Life Insurance Company (NASDAQ: KENCA) and Whitman, Heffernan & Rhein Workout Funds II and IIA, L.P.'s, today announced that previously reported negotiations of a possible equity investment by WHR in Kentucky Central have been terminated.
 W.E. Burnett, Jr., chairman and president of Kentucky Central stated: "Although we are disappointed that our discussions with WHR have been discontinued, Kentucky Central continues in its dedication to serving the needs of its policyholders and is fully capable of meeting those needs, as it has for more than 90 years. We are holding preliminary discussions with other potential partners and are implementing a business plan which focuses our energies and resources on our core business while cutting costs and consolidating operations. Planned divestitures of non-core business will substantially increase our capital and surplus."
 -0- 2/9/93
 /CONTACT: Brent A. Clay, V.P. Public Relations, Kentucky Central Life Insurance Company, 606-253-5271/
 (KENCA)


CO: Kentucky Central Life Insurance Company; Whitman, Heffernan & Rhein Workout Funds II and IIA, L.P.'s ST: Kentucky IN: INS SU:

SB -- CH006 -- 4694 02/09/93 13:06 EST
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Publication:PR Newswire
Date:Feb 9, 1993
Words:188
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