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WESTBRIDGE CAPITAL REPORTS NET OPERATING PROFIT UP 172 PERCENT FOR THE 1993 FIRST QUARTER

 FORT WORTH, Texas, May 6 /PRNewswire/ -- Westbridge Capital Corp. (AMEX: WBC), a supplemental health insurance company, today reported that net income in the first quarter ended March 31, 1993, rose to $674,000, equal to 15 cents per share, compared to income (before a one-time gain due to a change in accounting principle) of $248,000, or 6 cents per share, for the corresponding period of 1992. After the cumulative effect of such change in accounting principle in accordance with FAS 109, net income for the year-ago quarter was $1,382,000, or 33 cents per share.
 Revenues for the comparative three-month periods were $20,542,000 and $14,766,000, respectively.
 Per-share earnings are based on weighted average shares outstanding: 4,548,000 during the recent quarter and 4,199,000 shares during the first three months of 1992.
 Martin E. Kantor, chairman and chief executive officer, said that the acquisition of a block of Medicare Supplement insurance business in late 1992 contributed to the improved results. "Another acquisition, completed in late March, will benefit our earnings, starting in the current quarter ending June 30," he said. Mr. Kantor further noted that the earnings momentum of the last two years was expected to continue both as the result of the acquired businesses and from the growth and improved profitability of existing operations.
 WESTBRIDGE CAPITAL CORP.
 (In 000s, except share data)
 First quarter ended March 31 1993 1992(B)
 Total revenues $20,542 $14,766
 Income before cumulative effect of
 change in accounting principle 674 248
 Cumulative effect on prior years of
 change in accounting for income taxes (A) -- 1,134
 Net income $ 674 $ 1,382
 Earnings per share:
 Before cumulative effect of change in
 accounting principle $.15 $.06
 Cumulative effect on prior years of
 change in accounting principle (A) -- .27
 Net income per share $.15 $.33
 Weighted average shares outstanding 4,548,000 4,199,000
 (A) -- Reflects one-time gain from adoption of Statement of Financial Accounting Standards (FAS) No. 109 "Accounting for Income Taxes" effective Jan. 1, 1992.
 (B) -- Year-ago quarter's results restated in the 1992 six months to give effect to adoption of above-mentioned accounting principle.
 -0- 5/6/93
 /CONTACT: Michael C. Batte, VP and CFO of Westbridge Capital, 817-878-3300/
 (WBC)


CO: Westbridge Capital Corp. ST: Texas IN: INS SU: ERN

GK-CK -- NY048 -- 5340 05/06/93 10:46 EDT
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Date:May 6, 1993
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