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UNITED INSURANCE COMPANIES ANNOUNCES COMPLETION OF ACQUISITION

 UNITED INSURANCE COMPANIES ANNOUNCES COMPLETION OF ACQUISITION
 DALLAS, Dec. 5 /PRNewswire/ -- United Insurance Companies, Inc. (NASDAQ/NMS: UICI) and its life insurance subsidiaries of Dallas, announced today that on Tuesday, Dec. 3, 1991, they completed the acquisition of a controlling interest (78 percent) in First United, Inc. from Farm and Home Life Insurance Company through its receiver. UICI acquired 3,276,000 shares of First United, Inc. at $0.46 per share for a total purchase price of $1,507,000.
 -0- 12/5/91
 /CONTACT: Vernon R. Woelke, treasurer of United Insurance Companies, 214-960-8497/
 (UICI) CO: United Insurance Companies, Inc.; First United, Inc. ST: Texas IN: INS SU: TNM


JT -- NY088 -- 9817 12/05/91 16:23 EST
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Publication:PR Newswire
Date:Dec 5, 1991
Words:119
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