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SIGNET STAR HOLDINGS, INC., FILES PUBLIC OFFERING OF 5,850,000 SHARES OF COMMON STOCK

 STAMFORD, Conn., Oct. 4 /PRNewswire/ -- Signet Star Holdings, Inc., today filed with the Securities and Exchange Commission a registration statement relating to a proposed public offering of 5,850,000 shares of common stock. Of the 5,850,000 shares of common stock being offered, 3,250,000 are being offered by the company at 2.6 million are being offered by a selling shareholder, General Re Corporation. General Re Corporation has granted the underwriters a 30-day option to purchase up to an additional 877,500 shares of common stock for the purposes of covering over-allotments, if any. After the sale, W.R. Berkley Corporation will continue to own approximately 7.8 million shares, or 48 percent, of the company's common stock and General Re Corporation will continue to own approximately 2.6 million shares, or 16 percent, of the company's common stock (or approximately 1,722,500 shares, or 11 percent, if the underwriters' over-allotment option is exercised in full). Merrill Lynch & Co., Morgan Stanley & Co. Incorporated, Salomon Brothers Inc. and Wertheim Schroder & Co. Incorporated will manage the offering.
 Signet Star Holdings, Inc., is a newly formed reinsurance holding company that operates through the broker market in four sectors of the reinsurance industry: standard property casualty business; specialty business; casualty facultative business; and fidelity and surety business.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 10/4/93
 /CONTACT: John D. Vollaro, president, Signet Star Holdings, Inc., 201-301-8000/


CO: Signet Star Holdings ST: Connecticut IN: INS FIN SU: OFR

SM-TW -- NY092 -- 8501 10/04/93 16:09 EDT
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Publication:PR Newswire
Date:Oct 4, 1993
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