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PENN TREATY AMERICAN CORPORATION REPORTS FIRST QUARTER 1993 RESULTS

 STOCKTON, Calif., May 10 /PRNewswire/ -- Penn Treaty American Corporation (NASDAQ: PTAC) has reported increased revenues for the first quarter of 1993.
 Premium revenue for the quarter totalled $16,862,573, representing a 12 percent increase over the previous year's three-month total of $15,081,867. Net income for the three months ended March 31, 1993, totalled $1,439,814, or $.46 per share compared to $1,812,201 or $.58 per share for the same three-month period in the previous year.
 The company stated that while revenues increased from the comparable period in the prior year, the earnings decreased as the company's results continue to be negatively impacted by higher than initially anticipated loss ratios on home health care policies. However, the company believes that the rate increases filed for and received will produce improved results in the future. The company believes this is evidenced by first quarter earnings that have improved compared to the third and fourth quarter 1992 results.
 Penn Treaty American Corporation, through its wholly owned direct and indirect subsidiaries, Penn Treaty Life Insurance Company, Network America Life Insurance Company and Cher-Britt Service Company, is primarily engaged in the underwriting, marketing and sale of individual fixed, defined benefit accident and health insurance products principally covering long-term nursing home care and home health care. The company is currently licensed to conduct business in 44 states and the District of Columbia.
 -0- 5/10/93
 /CONTACT: Michael F. Grill, treasurer of Penn Treaty, 800-222-3469/
 (PTAC)


CO: Penn Treaty American Corporation ST: California IN: INS SU: ERN

JM-MP -- PH027 -- 6578 05/10/93 14:51 EDT
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Publication:PR Newswire
Date:May 10, 1993
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