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LIFE PARTNERS GROUP FILES FOR INITIAL OFFERING OF 9.2 MILLION COMMON SHARES

 LIFE PARTNERS GROUP FILES FOR INITIAL OFFERING
 OF 9.2 MILLION COMMON SHARES
 DALLAS, April 24 /PRNewswire/ -- Life Partners Group, Inc. today announced that it had filed a registration statement with the Securities and Exchange Commission for an initial public offering of 9.2 million shares of its common stock and will soon file a senior subordinated notes offering of $125 million.
 The stock offering will consist of 7.4 million shares to be sold by Life Partners in a primary offering, and 1.8 million shares to be sold by General Electric Capital Corp. The shares will be sold in concurrent offerings in the United States and Canada and internationally. The First Boston Corporation, Kidder, Peabody & Co. Incorporated, Merrill Lynch & Co. and Prudential Securities Incorporated will be the managers of the U.S. syndicate offering 7,360,000 shares and Credit Suisse First Boston Limited, Kidder, Peabody International Limited, Merrill Lynch International Limited and Prudential-Bache Securities (U.K.) Inc. will be the lead-managers of the international offering of 1,840,000.
 The purpose of the stock offering and the senior subordinated notes offering is to redeem Life Partners' outstanding preferred stock for approximately $110 million, to refinance Life Partners' existing subordinated debt for $90 million, to repurchase outstanding warrants for approximately $17 million, and for general corporate purposes.
 Life Partners is a life insurance holding company that, through its insurance subsidiaries, sells a diverse portfolio of universal life insurance products, as well as single premium and flexible premium deferred annuities. Hicks, Muse & Co., a private investment firm, formed Life Partners to purchase seven insurance companies, an acquisition they completed on March 30, 1990. The principal operating companies are Massachusetts General, Philadelphia Life and Wabash Life Insurance Company.
 The principal operations are located in Dallas and Englewood, Colo. Gene H. Bishop is chairman and chief executive officer of Life Partners, and John W. Gardiner is president and chief operating officer.
 A registration statement relating to the stock offering has been filed with the Securities and Exchange Commission, and a registration statement relating to the senior subordinated notes offering, which offering will be made only by means of a prospectus, is expected to be filed next week. Neither registration statement has yet become effective.
 The securities may not be sold nor may offers to buy be accepted prior to the time the registration statements become effective. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 4/24/92
 /CONTACT: Steven Bruce of The Abernathy/MacGregor Group, 212-371-5999, for Life Partners Group/ CO: Life Partners Group, Inc. ST: Texas IN: INS SU: OFR


SH -- NY062 -- 2505 04/24/92 13:24 EDT
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Publication:PR Newswire
Date:Apr 24, 1992
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