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LIFEUSA REPORTS INCREASE IN REVENUES AND LIFE SALES

 LIFEUSA REPORTS INCREASE IN REVENUES AND LIFE SALES
 MINNEAPOLIS, Nov. 11 /PRNewswire/ -- With a 117 percent increase in


collected third quarter life premiums by its insurance subsidiary, LifeUSA Insurance Company (and premium collected under an agreement with North American Life and Casualty), Life USA Holding, Inc., reported consolidated net income of $209,841 for the third quarter of 1991, increasing year-to-date income to $1,750,994.
 Total consolidated revenues of $23,863,184 reported for the third quarter represent an 8 percent increase over the $22,064,013 reported for the same period in 1990. For the first nine months of 1991, consolidated revenues were $73,213,746, an increase of 20 percent from $60,897,296 one year ago.
 While declining interest rates and negative publicity surrounding the life insurance industry resulted in a decline in collected annuity premiums, 1991 collected life premiums have increased 121 percent, to $28,096,748, compared to $12,711,851 for the same period in 1990.
 Life USA Holding, Inc., consolidated assets have continued to grow steadily, reaching $260,808,199 at the end of the quarter, compared to $135,527,129 for the same period a year ago.
 During the quarter, 2,908 new agents contracted with LifeUSA Insurance Company, bringing the total number of agents contracted to over 26,000 operating in 49 states.
 Commenting on Life USA's results, Robert W. MacDonald, chairman and chief executive officer, said, "Despite the negative feelings pervading the life insurance industry, we are very pleased with the continued profitability and growth of LifeUSA. We anticipate strong sales and increased profitability in the fourth quarter."
 LifeUSA Insurance Company is employee and agent-owned. Total insurance in force exceeds $3 billion. LifeUSA's investment portfolio is 100 percent investment grade, with an average rating of AAA. The company's stock is not publicly traded.
 LIFE USA HOLDING, INC.
 CONSOLIDATED STATEMENT OF OPERATIONS
 (Dollars in thousands, except per share amounts) (Unaudited)
 Three Months Ended Nine Months Ended
 9/30/91 9/30/90 9/30/91 9/30/90
 Revenues:
 Net investment income $4,582 $2,404 $12,282 $3,931
 Commissions and expense allowances
 on ceded reinsurance, net 17,294 19,467 57,418 56,588
 Other income 1,987 193 3,514 378
 Total revenues 23,863 22,064 73,214 60,897
 Expenses:
 Commissions 11,962 13,389 39,490 38,324
 Interest credited to
 policyholders 4,140 1,686 10,142 3,121
 Interest expense 171 98 343 389
 Other operating expenses 7,197 5,316 20,787 13,534
 Total expenses 23,470 20,489 70,762 55,368
 Income before income taxes and
 extraordinary items 393 1,575 2,452 5,529
 Income taxes (183) (764) (707) (1,768)
 Extraordinary item -- -- 6 798
 Net income $210 $811 $1,751 $4,559
 Net income per share $.00 $.02 $.04 $.13
 Average common and common
 equivalent shares 42,330,483 38,900,741 42,125,036 35,970,932
 -0- 11/11/91
 /CONTACT: Robert W. MacDonald of Life USA Holdings, Inc., 612-546-7386/ CO: Life USA Holdings, Inc. ST: Minnesota IN: INS SU: ERN DS-KH -- MN006 -- 2957 11/11/91 10:30 EST
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Copyright 1991 Gale, Cengage Learning. All rights reserved.

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Date:Nov 11, 1991
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