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THE ST. PAUL COMPANIES REVIEWS MINET GOOD WILL; EXPECTS OPERATING LOSS FOR FOURTH QUARTER AND YEAR

 THE ST. PAUL COMPANIES REVIEWS MINET GOOD WILL;
 EXPECTS OPERATING LOSS FOR FOURTH QUARTER AND YEAR
 ST. PAUL, Minn., Nov. 12 /PRNewswire/ -- As part of the current restructuring of its international insurance brokerage operation, The Minet Group, PLC, The St. Paul Companies (NYSE: SPC) is assessing the carrying value of the good will associated with the group, St. Paul Chairman Douglas W. Leatherdale announced today.
 Leatherdale said The St. Paul Companies expects to take a write-down of a portion of this good will as a non-cash charge against fourth- quarter results. The amount of the write-down has not been determined but is expected to be material and to result in an operating loss for the fourth quarter and the year. As of Sept. 30, 1992, the value of Minet-related good will was $482 million.
 Minet, which was acquired by The St. Paul Companies in 1988, provides insurance brokerage, risk consulting, captive management and related insurance services. Operating from its U.K. headquarters and from over 100 offices in 32 countries, Minet employs about 4,000 people.
 Headquartered in Saint Paul, Minn., The St. Paul Companies is a worldwide insurance organization whose members provide insurance underwriting and insurance brokerage products and services. Founded in 1853, The St. Paul is Minnesota's oldest business corporation.
 -0- 11/12/92
 /CONTACT: Barbara Reynolds of The St. Paul Companies, 612-221-7399/
 (SPC) CO: The St. Paul Companies ST: Minnesota IN: INS SU:


KH -- MN003 -- 0054 11/12/92 09:38 EST
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Publication:PR Newswire
Date:Nov 12, 1992
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