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USLIFE CORPORATION EXTENDS STOCK REPURCHASE PROGRAM

 NEW YORK, Oct. 27 /PRNewswire/ -- USLIFE Corporation (NYSE: USH) today announced the extension of its stock repurchase program. The board of directors has extended the current program through November of 1994 and authorized the purchase of up to one million common shares or convertible preferred equivalents. This action was announced by Gordon E. Crosby, Jr., chairman of the board and chief executive officer of USLIFE.
 Excluding treasury stock, USLIFE Corporation has 22,630,673 common shares issued and outstanding.
 Since the inception of the stock repurchase program in 1981, USLIFE repurchased approximately 16.7 million shares of its common stock at a cost of approximately $360 million which equates to an average price of $21.53 per share as compared to book value as of September 30, 1993 of $41.15 per share.
 Subject to prevailing market conditions and other factors, repurchases will be made in the open market or through negotiated transactions.
 Note to the Editor:
 USLIFE Corporation is a life insurance-based holding company whose principal subsidiaries engage in the life insurance business. With nationwide operations, USLIFE has three ordinary life insurance companies and a credit insurance group with approximately $119 billion of life insurance in force as of September 30, 1993. Additionally, there are five other subsidiaries that furnish the life insurance companies with investment advisory, broker-dealer, real estate, data processing and administrative services.
 -0- 10/27/93
 /CONTACT: Richard P. Keating, Vice President, Corporate Communications of USLIFE, 212-709-6227/
 (USH)


CO: USLIFE Corporation ST: New York IN: INS SU:

LG-TA -- NY034 -- 7197 10/27/93 10:48 EDT
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Publication:PR Newswire
Date:Oct 27, 1993
Words:260
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