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ORION CAPITAL CORPORATION ANNOUNCES COMPLETION OF ADJUSTABLE RATE PREFERRED STOCK REDEMPTION

 NEW YORK, April 8 /PRNewswire/ -- Orion Capital Corporation (NYSE: OC) announced today that it completed the redemption of the company's adjustable rate preferred stock ("ARP"), which had been traded on the New York Stock Exchange under the symbol OCPrA. A total of 370,000 shares had been outstanding. The redemption price was $50.00 per share plus $0.07243 per share in dividends from April 1, 1993 to the redemption date.
 Orion Capital is engaged in the specialty property and casualty insurance business through wholly owned insurance subsidiaries, and through its 49.3 percent ownership interest in Guaranty National Corporation.
 -0- 4/8/93
 /CONTACT: Vincent T. Papa of Orion Capital Corporation, 212-332-8080, or Robert D. Siegfried or Leslie Uyeda of Kekst & Company, 212-593-2655, for Orion Capital Corporation/
 (OC)


CO: Orion Capital Corporation ST: New York IN: FIN SU:

AH-OS -- NY039 -- 4238 04/08/93 12:14 EDT
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Publication:PR Newswire
Date:Apr 8, 1993
Words:148
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