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UNDERWRITERS EXERCISE OVER-ALLOTMENT OPTION TO PURCHASE ADDITIONAL SHARES

 DES MOINES, Iowa, Dec. 9 /PRNewswire/ -- ALLIED Life Financial Corporation (NASDAQ: ALFC) announced that the underwriters for the common stock offering, represented by Alex. Brown & Sons Incorporated, have exercised an over-allotment option to purchase an additional 142,500 shares from the company and 255,000 shares from ALLIED Mutual Insurance Company. The company received approximately $1.6 million in net proceeds, and ALLIED Mutual received approximately $2.8 million in net proceeds. This now completes the common stock offering for the company.
 ALLIED Life Financial Corporation is a holding company that, through its principal subsidiary ALLIED Life Insurance Company, underwrites, markets, and distributes a portfolio of universal life insurance, term life insurance, and annuity products to individuals who live principally in rural and suburban areas of the midwestern and western United States.
 -0- 12/9/93
 /CONTACT: Wendell Crosser of ALLIED, 515-280-4622/
 (ALFC)


CO: ALLIED Life Financial Corporation ST: Minnesota IN: INS SU: OFR

DB-CP -- MN005 -- 2201 12/09/93 12:14 EST
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Publication:PR Newswire
Date:Dec 9, 1993
Words:163
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