RESURE INCORPORATED SYNDICATE LIQUIDATED

CHICAGO, IL -- Illinois Director of Insurance, Mark Boozell, announced today that Resure Incorporated Syndicate, a member of the Illinois Insurance Exchange, was placed under an Agreed Order of Liquidation with a finding of insolvency on February 27, 1997. The Cook County Circuit Court granted Boozell's petition, based on the Insurance Department's finding that the company's policyholders surplus was impaired in excess of $3.5 million.

Resure's most recent annual statement reflects approximately $13 million in direct premium as of December 31, 1995; however, the company had not been actively writing new business since December 1996. The company's policyholders will be notified that all policies will be canceled as of 12:01 a.m. March 30, 1997, unless they expire or are terminated at an earlier date.

Resure is a member of the Illinois Insurance Exchange Guaranty Fund which may provide up to an aggregate $15 million of coverage, not to exceed $300,000 per claimant, to assist the Liquidator in meeting obligations of policyholders. However, due to the number and complexity of claims against Resure, it is not known when or to what degree those funds will be available.

Located in Chicago, Illinois and North Riverside, California, the syndicate is a wholly owned subsidiary of Talon Re Holdings, Incorporated, a Nevada holding company, of Las Vegas, Nevada.

The liquidation proceedings are being handled by the Director's Office of the Special Deputy Receiver, 222 Merchandise Mart Plaza, Suite 1450, Chicago, Illinois 60654; (312) 836-9500.