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THOMAS C. SUTTON, CHAIRMAN AND CEO OF PACIFIC MUTUAL LIFE INSURANCE CO., ISSUES STATEMENT

 THOMAS C. SUTTON, CHAIRMAN AND CEO OF
 PACIFIC MUTUAL LIFE INSURANCE CO., ISSUES STATEMENT
 NEWPORT BEACH, Calif., April 24 /PRNewswire/ -- The following statement is being issued by Thomas C. Sutton, chairman and chief executive officer of Pacific Mutual Life Insurance Co.:
 "We are pleased and gratified that the commissioner and his advisers recognized the value provided to policyholders by the Pacific Mutual proposal," said Thomas C. Sutton, chairman and chief executive officer of Pacific Mutual. "We look forward to welcoming First Capital's clients into the Pacific Mutual family.
 "The commissioner conducted a bidding process that has resulted in guaranteed security for the policyholders of First Capital.
 "We acknowledge and commend our colleagues at Transamerica Occidental, Shearson and Leucadia for their participation in this competitive process."
 -0- 4/24/92
 /CONTACT: Bill Acton, Hill and Knowlton, 213-937-7460, for Pacific Mutual Life Insurance Co./ CO: Pacific Mutual Life Insurance Co. ST: California IN: FIN INS SU:


EH-JL -- LA035 -- 2777 04/24/92 18:34 EDT
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Publication:PR Newswire
Date:Apr 24, 1992
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