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MERCER INTERNATIONAL ANNOUNCES SALE OF CANADIAN UNDERWRITING BUSINESSES

 MERCER INTERNATIONAL ANNOUNCES SALE
 OF CANADIAN UNDERWRITING BUSINESSES
 VANCOUVER, British Columbia, July 16 /PRNewswire/ -- Mercer International Inc. (NASDAQ-NMS: MERCS) today announced that the company's financial services division has sold the direct automobile and residential lines of its underwriting businesses to Belair Insurance Co. of Montreal. Effective September 1992, the company will no longer be a direct writer of personal line insurance.
 As a result of the transaction, the company will realize a net after-tax profit of approximately $5.0 million during the next 12 months.
 Belair Insurance, a subsidiary of Internationale Nederlander N.V. of the Netherlands, will renew the direct underwriting businesses being sold by Mercer.
 According to William Atkinson, vice chairman of Mercer, "The sale of the businesses is part of management's goal of improving the return on assets and sales product mix of our financial services division. In addition, these financial assets will enable Mercer to more effectively implement and expand operations in the international environmental services sector."
 Mercer International Inc., a North American-based company, is utilizing its asset base to expand its service-oriented focus into long-term, high-growth areas, with particular emphasis on the international environmental services industry. The company has total assets of more than $162 million, with annual revenues more than $70 million and earnings of $8.5 million in fiscal 1991.
 -0- 7/16/92
 /CONTACT: William H.W. Atkinson, vice chairman of Mercer International, 604-683-8286; or Gary S. Maier of Erickson Consulting Group, 310-829-4601, for Mercer International/
 (MERCS) CO: Mercer International Inc.; Belair Insurance Co. ST: British Columbia IN: INS FIN SU:


JL-EH -- LA005 -- 9865 07/16/92 08:42 EDT
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Publication:PR Newswire
Date:Jul 16, 1992
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