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RLI CORP. ANNOUNCES RESTATEMENT OF FINANCIAL RESULTS

 PEORIA, Ill., July 15 /PRNewswire/ -- RLI Corp. (NYSE: RLI) reported today it has retroactively restated its 1990, 1991, 1992 and 1993 financial statements and filed amended reports on Forms 10-K/A and 10- Q/A for the periods ended Dec. 31, 1992, and March 31, 1993, respectively, to recognize an asset for amounts due from reinsurers related to the experience to date under the company's multiple-year, retrospectively-rated reinsurance contracts.
 The effects of the restatement were to increase total assets, total liabilities and shareholder's equity as of Dec. 31, 1990, 1991 and 1992, and as of March 31, 1993, and to increase net earnings and net earnings per share for the years ended Dec. 31, 1990, 1991 and 1992, and for the three months ended March 31, 1992 and 1993.
 Previous Restated Previous Restated
 Earnings Earnings Equity Equity
 Period ended Per Share Per Share Per Share Per Share
 Dec. 31, 1990 $2.05 $2.52 $13.64 $14.11
 Dec. 31, 1991 2.22 2.97 16.40 17.61
 Dec. 31, 1992 2.29 2.83 18.65 20.38
 March 31, 1992 0.52 0.68 16.72 18.65
 March 31, 1993 0.72 0.80 19.87 21.71
 RLI Corp. through its insurance subsidiaries underwrites selected property and casualty insurance products. RLI Professional Technologies, Inc., another subsidiary, markets practice automation systems, contact lenses and related products to the ophthalmic industry.
 RLI Corp. is traded on the New York Stock Exchange, symbol RLI. (Contact James E. Zogby, treasurer, 9025 North Lindbergh Drive, Peoria, Illinois, 61615, 309-693-5880.
 -0- 7/15/93
 /CONTACT: James E. Zogby, treasurer of RLI Corp., 309-693-5880/
 (RLI)


CO: RLI Corp. ST: Illinois IN: INS SU:

TM-OS -- NY087 -- 2164 07/15/93 16:13 EDT
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Publication:PR Newswire
Date:Jul 15, 1993
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