BOSTON--(BUSINESS WIRE)-- June 17, 1997--Liberty Financial Companies, Inc. announcedthe filing of a registration statement covering a secondary public offering of 2,500,000 shares of itscommon stock all of which will be sold by an indirect subsidiary of Liberty Mutual InsuranceCompany and certain other stockholders of Liberty Financial. Managing underwriters for the offering are Merrill Lynch & Co., Goldman, Sachs & Co.,PaineWebber Incorporated and Fox-Pitt, Kelton, Inc. Other selling stockholders are John A.McNeice, Jr., Sabino Marinella, C. Herbert Emilson and Sage Group Limited, none of which arecurrently members of Liberty Financial's executive management team. The Liberty Mutualsubsidiary granted to the underwriters a 30-day option to purchase up to 375,000 additional sharesof common stock solely to cover over-allotments. Currently, the Liberty Mutual subsidiary ownsapproximately 81.2% of the common stock of Liberty Financial and approximately 80.3% of thevoting power of its voting stock. Following the offering, the Liberty Mutual subsidiary will continueto own approximately 74.5% of the common stock of Liberty Financial and approximately 73.6%of the voting power of its voting stock (73.2% and 72.4% respectively, if the underwriter'sover-allotment option is exercised in full). The last sale price of the common stock on June 16,1997 was $51 per share. A registration statement relating to these securities has been filed with the Securities and ExchangeCommission, but has not yet become effective. The securities may not be sold nor may offers tobuy be accepted prior to the time the registration statement becomes effective. This press releaseshall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale ofthese securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawfulprior to registration or qualification under the securities laws of any such state jurisdiction. Theoffering will be made only by means of the Prospectus.
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