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LIFE USA HOLDING, INC. FILES $40 MILLION PUBLIC OFFERING OF COMMON STOCK

 MINNEAPOLIS, Feb. 22 /PRNewswire/ -- Life USA Holding, Inc. (NASDAQ-NMS: LUSA), a Minneapolis-based insurance holding company, announced today that it intends to raise approximately $40 million through a public offering of 4.5 million newly issued shares of its common stock. The offering is being co-managed by Stephens Inc. and Dain Bosworth Incorporated. Proceeds from the offering will be used to finance a potential acquisition of a shell life insurance company and to increase the statutory capital and surplus of its insurance subsidiary, LifeUSA Insurance Company (LifeUSA) or, if acquired, the shell life insurance company; thereby enabling retention of a larger share of the business produced by LifeUSA agents instead of reinsuring the business under its current reinsurance treaties.
 A registration statement relating to the shares of common stock has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time such registration statement becomes effective. This press release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there be any sales of these 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. A preliminary prospectus may be obtained from one of the co-managers of the offering.
 -0- 2/22/93
 /CONTACT: Robert W. MacDonald of Life USA, 612-591-5201/
 (LUSA)


CO: Life USA Holding, Inc. ST: Minnesota IN: INS SU: OFR

KH -- MN005 -- 8837 02/22/93 09:23 EST
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Publication:PR Newswire
Date:Feb 22, 1993
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