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STONERIDGE RESOURCES INC. COMPLETES FINAL ANNUAL MEETING

 OMAHA, Neb., Dec. 22 /PRNewswire/ -- Shareholders of Stoneridge Resources, Inc., today approved proposals to change the company's name to Acceptance Insurance Companies Inc. (NYSE: AIF), and to effect a one- for-four reverse split in the company's common stock. The new shares will commence trading on the New York Stock Exchange on Dec. 23, 1992 under the symbol AIF.
 Shareholders also approved a Rights Offering of equity units consisting of one share of common stock and one four-year warrant (exercise price $11.00) to its shareholders, at a price of $8.00 per unit. The company is seeking approximately $27 million in the Rights Offering. The Rights Offering will commence Dec. 23, 1992, and will end Jan. 20, 1993, unless extended at the company's option for seven additional days.
 Acceptance Insurance is an A- rated specialty property and casualty insurance company concentrating its efforts in the excess and surplus lines business. The company's insurance operations are conducted through insurance subsidiaries and an insurance agency. The company seeks specialty books of insurance business throughout the United States in which the application of its skilled underwriting and claims techniques can provide the company with an advantage over the insurance industry.
 -0- 12/22/92
 /CONTACT: William J. Gerber, vice president of Acceptance Insurance Companies Inc., 402-344-8800, or Edward Silverman or Cynthia A. Bond of Silverman Heller & Bond, Inc., 212-682-9222, for Acceptance Insurance Companies/
 (AIF)


CO: Stoneridge Resources, Inc.; Acceptance Insurance Companies Inc. ST: Nebraska IN: INS SU:

AH-WB -- NY061 -- 9323 12/22/92 17:44 EST
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Publication:PR Newswire
Date:Dec 22, 1992
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