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SALIPANTE JOINS NWNL COMPANIES AS CHIEF FINANCIAL OFFICER

 SALIPANTE JOINS NWNL COMPANIES AS CHIEF FINANCIAL OFFICER
 MINNEAPOLIS, June 15 /PRNewswire/ -- Robert C. Salipante will become the chief financial officer of The NWNL Companies (NYSE: NWN), effective July 6.
 In his new position, Salipante will be responsible for the financial operations of the company, including the areas of financial reporting, corporate tax, corporate actuarial and investor relations.
 He will report to President and Chief Executive Officer John G. Turner.
 "We are very pleased to welcome Mr. Salipante to NWNL, and we look forward to having him as part of our management team because of the important strengths that he brings," Turner said. "One of these is his wealth of experience in the financial services industry, where he has spent his entire career. As a result, he is familiar with the issues confronting the insurance industry and NWNL. Another important strength is his knowledge and experience in technology management. We believe that his contributions to NWNL will be significant."
 Salipante, 36, was most recently executive vice president of the Banking Services Group at Ameritrust Corp., Cleveland. His direct responsibilities included consumer lending products, consumer loan underwriting, operations, and all information systems and technology.
 Salipante joined Ameritrust Co., N.A. as a general analyst in 1978 after graduating from the University of Michigan with a bachelor's degree in economics. From 1980 to 1981 he attended the Sloan School of Management at Massachusetts Institute of Technology, where he received a master of science degree in management.
 Upon his return to Ameritrust, he became a management science analyst and in 1983 was promoted to vice president-management information systems. In 1986, he became senior vice president- management information systems.
 From 1988 to 1992, Salipante was executive vice president of the Banking Services Group of Ameritrust Corp., the parent of Ameritrust Co. N.A. During the time, in addition to his previously noted responsibilities, he was a member of the Chairman's Council (the corporation's management committee), Credit Policy Committee, and Asset and Liability Committee. In addition, he served as president and director of various Ameritrust subsidiaries.
 Salipante attended the Sloan School of Management at the Massachusetts Institute of Technology and received his master's degree in management in 1981. He was awarded the Brooks Prize for the best thesis.
 At the University of Michigan, he achieved the highest honors in economics and was also a James B. Angell Scholar, Phi Beta Kappa, and winner of the Osterweil Prize in Economics.
 NWNL's last chief financial officer was John H. Flittie, who was named senior executive vice president in 1991 and who was also elected chief operating officer last April.
 The NWNL Companies is a Minneapolis-based holding company specializing in the life and health insurance and annuity business.
 -0- 6/15/92
 /CONTACT: Jan Pedersen of NWNL, 612-372-5623/
 (NWN) CO: The NWNL Companies ST: Minnesota IN: INS SU: PER


AL -- MN002 -- 0226 06/15/92 14:11 EDT
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Publication:PR Newswire
Date:Jun 15, 1992
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