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RELIANCE GROUP TO PURCHASE UP TO 500,000 OF ITS SHARES

 RELIANCE GROUP TO PURCHASE UP TO 500,000 OF ITS SHARES
 NEW YORK, April 8 /PRNewswire/ -- Reliance Group Holdings, Inc. (NYSE: REL) announced today that it intends to purchase, from time to time in the open market, up to 500,000 shares of its outstanding common stock, depending on prevailing market conditions. Such shares are expected to be used to fund the company's contribution to its employee benefit plans.
 Reliance Group Holdings, Inc., headquartered in New York, has major property and casualty, life, title and mortgage insurance operations; provides consulting and technical services; and makes diversified investments. Reliance has assets of $11.3 billion and had 1991 revenues of $3.4 billion.
 -0- 4/8/92
 /CONTACT: Brian T. Martin, vice president-communications of Reliance Group Holdings, 212-909-1247/
 (REL) CO: Reliance Group Holdings, Inc. ST: New York IN: INS SU:


SH-OS -- NY037 -- 6161 04/08/92 10:43 EDT
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Publication:PR Newswire
Date:Apr 8, 1992
Words:148
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