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Author: TMFMensa Three stars, 500 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 12  
Subject: News Date: 6/17/1997 9:19 AM
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BOSTON--(BUSINESS WIRE)-- June 17, 1997--Liberty Financial Companies, Inc. announced
the filing of a registration statement covering a secondary public offering of 2,500,000 shares of its
common stock all of which will be sold by an indirect subsidiary of Liberty Mutual Insurance
Company 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 are
currently members of Liberty Financial's executive management team. The Liberty Mutual
subsidiary granted to the underwriters a 30-day option to purchase up to 375,000 additional shares
of common stock solely to cover over-allotments. Currently, the Liberty Mutual subsidiary owns
approximately 81.2% of the common stock of Liberty Financial and approximately 80.3% of the
voting power of its voting stock. Following the offering, the Liberty Mutual subsidiary will continue
to 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's
over-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 Exchange
Commission, but has not yet become effective. The securities may not be sold nor may offers to
buy be accepted prior to the time the registration statement becomes effective. This press release
shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful
prior to registration or qualification under the securities laws of any such state jurisdiction. The
offering will be made only by means of the Prospectus.
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