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PRIMERICA SELLS BALANCE OF FINGERHUT SHARES

 MINNEAPOLIS, Jan. 7 /PRNewswire/ -- Fingerhut Companies, Inc. (NYSE: FHT) announced that it has filed with the SEC that on Jan. 5, 1993 Primerica Corporation (NYSE: PA) sold 508,400 shares of Fingerhut common stock, which is the balance of the "overallotment option" shares from the public offering of 7,997,681 shares which was completed in December, 1992. This sale combined with the December public offering and Fingerhut's purchase of 1.5 million shares completes the sale of Fingerhut shares by Primerica.
 Since 1990, when Fingerhut was taken public, Primerica has stated its intention to sell its interest in Fingerhut over time and to re- deploy those assets into their core financial services businesses. "We have had a terrific partnership with Primerica," said Ted Deikel, Fingerhut chairman and chief executive officer. "I am pleased that all of our shareholders have seen the benefit of our growth in sales and earnings over these last three years."
 Deikel further stated that Fingerhut has accepted the resignation of the two Primerica representatives on the Fingerhut Board and that the search process has begun for two independent board members.
 Fingerhut Companies, Inc., one of the nation's largest catalog marketing companies, sells brand name and private label merchandise primarily though the mail to an active customer base of 13 million customers. The company employs approximately 8,000 people in Minnesota, Wisconsin and Tennessee. Fingerhut Companies, Inc. common stock trades on the New York Stock Exchange under the symbol FHT.
 -0- 1/7/93
 /CONTACT: Betty Bothereau of Fingerhut Companies, Inc., 612-936-5586/
 (FHT PA)


CO: Fingerhut Companies, Inc., Primerica Corporation ST: Minesota IN: REA SU: FIN

TM-LD -- NY008 -- 2463 01/07/93 08:00 EST
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Publication:PR Newswire
Date:Jan 7, 1993
Words:279
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