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NWNL FILES REGISTRATION STATEMENTS WITH SEC FOR COMMON STOCK AND 10-YEAR NOTE OFFERINGS

 MINNEAPOLIS, July 23 /PRNewswire/ -- The NWNL Companies (NYSE: NWN) announced today that it has filed registration statements with the Securities and Exchange Commission (SEC) for offerings of its common stock and 10-year notes.
 NWNL has filed a registration statement with the SEC for an offering of 1,750,000 shares of common stock, with an option for the underwriters to purchase 262,500 additional shares to cover overallotments. NWNL said it intends to invest most of the proceeds from the sale of the common stock in its life insurance company subsidiaries: Northwestern National Life Insurance Co., Minneapolis; Northern Life Insurance Co., Seattle; and The North Atlantic Life Insurance Co. of America, Jericho, N.Y.
 The underwriters of the stock offering are Donaldson, Lufkin & Jenrette Securities Corp., The Robinson-Humphrey Co. Inc., and Dain Bosworth Inc. The closing price of NWNL common stock on July 22, 1993, was $30 per share. As of March 31, 1993, the company had 26,995,898 shares of common stock outstanding.
 The company also filed a registration statement for $120 million of 10-year notes. The company said it intends to use the proceeds from the sale of the notes to retire its $100 million 10-1/4 percent notes during 1994 and to repay certain bank debt. The underwriters of the note offering are Merrill Lynch & Co. and Donaldson, Lufkin & Jenrette Securities Corp. Application will be made to list the notes on the New York Stock Exchange.
 The NWNL Companies is a Minneapolis-based holding company specializing in the life and health and annuity businesses.
 Registration statements relating to these securities have been filed with the Securities and Exchange Commission but have not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such states.
 -0- 7/23/93
 /CONTACT: Ruth Weber of NWNL Companies, 612-372-5628/
 (NWN)


CO: NWNL Companies ST: Minnesota IN: INS SU: OFR

DB -- MN003 -- 5005 07/23/93 08:57 EDT
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Publication:PR Newswire
Date:Jul 23, 1993
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