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SPEAR FINANCIAL SERVICES RESPONDS TO FLORIDA REGULATIONS PROPOSAL

 SPEAR FINANCIAL SERVICES RESPONDS TO FLORIDA REGULATIONS PROPOSAL
 LOS ANGELES, Feb. 3 /PRNewswire/ -- Spear Financial Services Inc. (NASDAQ: SFNS) said today that the Florida Insurance Department has proposed regulations which, if adopted and interpreted in a manner adverse to the Florida operations of its subsidiary, James Mitchell & Co., might have an adverse effect on the company's financial performance. Charles M. Spear, chairman, said "We received a copy of the proposed regulations this morning, and we have them under study. Our initial conclusion is that these regulations do not cover the types of activities in which JMC engages in Florida, and therefore should not materially affect those activities."
 -0- 2/3/92
 /CONTACT: Randy Stratt of Spear Financial Services, 818-543-4440/
 (SFNS) CO: Spear Financial Services ST: California IN: FIN SU:


DM-KJ -- LA042 -- 6443 02/03/92 19:16 EST
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Publication:PR Newswire
Date:Feb 3, 1992
Words:138
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