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UNITED INSURANCE COMPANIES, INC. ANNOUNCES COMPLETION OF CASH TENDER OFFER

 DALLAS, March 29 /PRNewswire/ -- United Insurance Companies, Inc. (NASDAQ-NMS: UICI) today announced that it completed its cash tender offer for all the outstanding shares of Southern Educators Life Insurance Company at $8.10 per share, net cash to the shareholder, on March 26, 1993.
 At the expiration of the tender offer on March 26, 1993, United purchased 2,506,165 of the outstanding shares of Southern Educators Life Insurance Company. United now owns 98.57 percent of Southern Educators Life Insurance Company's outstanding shares.
 United, headquartered in Dallas, is an insurance holding company which specializes is co-insuring and writing accident and health and life insurance in specific markets through its majority-owned life insurance companies.
 Southern Educators, headquartered in Atlanta, is a specialty life insurance company which concentrates primarily on the marketing and servicing of products to aid families in planning for the costs of higher education.
 -0- 3/29/93
 /CONTACT: Vernon Woelke, CFO of United Insurance Companies, Inc., 214-960-8497/
 (UICI)


CO: United Insurance Companies, Inc.; Southern Educators Life Insurance
 Company ST: Texas, Georgia IN: INS SU: TNM


PS -- NY065 -- 0523 03/29/93 12:31 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Mar 29, 1993
Words:187
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