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MERCER INTERNATIONAL TO INVEST $10 MILLION IN ENVIRONMENTAL INSURANCE SECTOR

 VANCOUVER, British Columbia, Dec. 17 /PRNewswire/ -- Mercer International Inc. (NASDAQ-NMS: MERCS) today announced that, through a subsidiary company, it has agreed to purchase, subject to regulatory approval, all of the outstanding common and preferred shares of Trinity Insurance Holdings Inc. (TIH), a Delaware corporation, and another associated company from the liquidators of Trinity Insurance Company Ltd. and Bryanston Insurance Co., the U.K. parents of TIH. As a result of the transaction, Mercer will acquire all of the outstanding equity of American Equity Insurance Co. (AEIC). AEIC is a licensed property and casualty insurance company in the state of Arizona whose primary book of business was auto insurance.
 Mercer, after exploring the international market opportunities for environmental insurance, will invest $10 million during the next 12 to 18 months in this sector in order to expand its business in this area. The company will, in 1993, operate internationally in specified targeted markets with regards to third party liability and other specialized environmental insurance products both in North America and Europe. Mercer will focus on only those segments where the environmental risk is specifically quantifiable. With its environmental and financial services operations in Europe, Mercer has been active as well, through its German operations, in identifying situations which would complement its activities in the United States and Canada.
 Mercer is also pleased to report that it has narrowed the site selection of its proposed construction of a $126 million waste paper recycling facility in eastern Germany. Negotiations are presently underway with the two state governments. The final prospectus feasibility report from Industra Engineers Inc. is expected before year end.
 Mercer International Inc., a North American-based company, continues to expand its international financial and environmental services operations in Europe, as well as North America. At Sept. 30, 1992, the company had total assets of $146 million, book value of $55.8 million and earnings per share of $0.53 on revenues of $53 million.
 -0- 12/17/92
 /CONTACT: Michael J. Smith of Mercer International Inc. 604-683-8286; or Dean R. Erickson of Erickson Consulting for Mercer International, 310-442-9891/
 (MERCS)


CO: Mercer International Inc.; Trinity Insurance Holdings Inc.;
 American Equity Insurance Co. ST: British Columbia IN: INS SU: TNM


JB-KJ -- LA005 -- 8064 12/17/92 09:15 EST
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Publication:PR Newswire
Date:Dec 17, 1992
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