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McM CORPORATION DISCONTINUES EFFORTS TO SELL REMAINING COMPANIES IN McM GROUP

 RALEIGH, N.C., Jan. 29 /PRNewswire/ -- McM Corporation, (NASDAQ: MCMC) a Raleigh based insurance holding company, announced today that its Board of Directors has decided to discontinue efforts to sell the remaining companies in the McMhief Executive Officer of the companies, noted that market and economic conditions, as well as other factors, led to the Board's decision to focus management efforts on building shareholder value without the distractions of the sale process. PaineWebber Incorporated will continue to serve McM as its financial advisor.
 -0- 1/29/93
 /CONTACT: George E. King, President/CEO, McM Corporation, 919-833-1600/
 (MCMC)


CO: McM Corporation ST: North Carolina IN: INS SU:

MM -- CH003 -- 0670 01/29/93 10:15 EST
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Publication:PR Newswire
Date:Jan 29, 1993
Words:115
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