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MILBRATH TO SERVE AS EMPLOYEE BENEFIT PLANS CHIEF FINANCIAL OFFICER

MILBRATH TO SERVE AS EMPLOYEE BENEFIT PLANS CHIEF FINANCIAL OFFICER
    MINNEAPOLIS, Oct. 1 /PRNewswire/ -- Employee Benefit Plans, Inc. (NYSE: EBP) today announced that Earlon L. Milbrath has joined the company and will serve as the chief financial officer of EBP and senior vice president of EBPLife.
    "We're pleased to welcome Earlon Milbrath as the newest member of our team.  Earl's 29 years of experience in the insurance and financial services industries make him exceptionally qualified to help us grow and meet future challenges," said William E. Sagan, EBP's president. Milbrath will report to Richard J. Braun, EBP's chief operating officer.
    Since 1963, Milbrath has held a variety of positions with IDS Financial Services and its subsidiary, IDS Life Insurance Company; and with Acuma Ltd., another subsidiary of American Express Company.  Most recently, Milbrath served as senior consultant, corporate strategy and development, for IDS Financial Services.  From 1989 to 1992, he was a member of the management team that launched an IDS-style financial planning business in the United Kingdom, serving as senior vice president, products and finance, of Acuma Ltd., and as managing director of Acuma Life Assurance Ltd.  From 1975 to 1989, Milbrath served as a vice president of IDS in a variety of roles, including chief financial officer and chief operations officer of IDS Life, which is the nation's 14th largest life insurance company.
    Milbrath received a master's of business administration from St. Thomas University, St. Paul, Minn., in 1981, and a bachelor's degree from the University of Minnesota in 1963.  He also completed the Tuck Executive Program at Dartmouth College in 1986, and was elected a Fellow of the Life Management Institute in 1970.
    Milbrath will succeed Mark A. Sorensen, who will continue to serve the company in a consulting capacity.  According to Sagan,  "Mark has been a key member of EBP's management team over the past five years, as EBP has grown from $52 million to $219 million in revenues.  In addition to developing and enhancing EBP's accounting and control systems, Mark is credited with establishing our strong capital position."
    Employee Benefit Plans, Inc. is a leader in providing products and services to companies throughout the United States who self-fund their employee benefit programs.  The company has sales of more than $200 million, and is headquartered in Minneapolis.
    -0-             10/01/92
    CONTACT:  John Mackay of Padilla Speer Beardsley, 612-871-8877
    (EBP) CO:  EMPLOYEE BENEFIT PLANS, INC. IN:  INS SU:  PER ST:  MN -- MN002 -- X955  10/01/92
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Date:Oct 1, 1992
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