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UNITED INSURANCE COMPANIES MAKES ANNOUNCEMENT

 UNITED INSURANCE COMPANIES MAKES ANNOUNCEMENT
 DALLAS, July 30 /PRNewswire/ -- United Insurance Companies, Inc.,


(NASDAQ: UICI) (UICI) a Delaware insurance holding company, announced today that it has made an offer to purchase all of the outstanding shares of The Chesapeake Life Insurance Company (CLICO) for $8.40 per share.
 UICI currently owns approximately 77 percent of the outstanding common stock of CLICO. CLICO is a Maryland insurance company which has approximately 98,000 shares of Class A common stock and 117,000 shares of Class B common stock outstanding which are not currently owned by UICI. This offer will expire on Aug. 21, 1992 unless extended by UICI.
 -0- 7/30/92
 /CONTACT: Vernon R. Woelke, treasurer of United Insurance Companies, 214-960-8497/
 (UICI) CO: United Insurance Companies Inc. ST: Texas IN: INS SU: TNM


SM -- NY072 -- 5122 07/30/92 13:07 EDT
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 30, 1992
Words:142
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