DES MOINES, Iowa, April 6 /PRNewswire/ -- MidAmerican Energy Holdings Co.
(NYSE: MEC) announced today its intent to purchase the nation's third largest
real estate brokerage organization, expanding the company's market reach
across the Midwest and providing new channels for its products and services
throughout the region.
    The proposed purchase of AmerUs Home Services Inc., for an undisclosed
price, includes real estate operations in five states:  Iowa Realty, that
state's largest, and First Realty/Better Homes & Gardens based in Des Moines;
Edina Realty in Minnesota, North Dakota and Wisconsin; and Carol Jones,
Realtors, in Springfield, Mo.
    "We're excited to have two strong Midwest organizations joining forces,"
said Stanley J. Bright, chairman, president and chief executive officer of
MidAmerican.  "Teaming with these brokerages puts MidAmerican at the front
door of the home-buying and home-selling process -- and allows us to move
closer in the consumer market to becoming the leading regional provider of
energy and related services to the home."
    Explained Bright, "When a person buys a home, that decision triggers
others -- from purchasing cable television to subscribing to the local
newspaper.   Already, we offer products such as home security, appliance
warranty and home connection services that can build customer relationships
and help us become the gateway to the home.  Ultimately, when competition
comes to the energy marketplace, this will allow us to support sales of our
core products, electricity and natural gas."
    He continued, "Everything we are doing is based on extensive market
research involving Midwest homeowners, who have told us what they really want
and need."
    Bright also stressed the track record of the real estate organizations
involved.  Each real estate company leads its area in terms of size and market
share.  On a consolidated basis, the companies comprise the third largest real
estate brokerage operation in the United States, based on more than
46,000 residential buyer and seller transactions last year.  They have more
than 800 employees and more than 3,400 sales agents in Iowa, Minnesota,
Missouri, North Dakota and Wisconsin.
    "This is a joining of premier brand names -- Iowa Realty, First
Realty/Better Homes and Gardens, Carol Jones, Realtors, Edina Realty, and now
MidAmerican," he said.  "Our partnership came about because the real estate
group was heading down the same road we were in adding services to benefit
homeowners.
    "We believe this is a great opportunity not just for us but for our new
real estate associates, and we will support them in what they do best --
adding value in home selling and buying.  All our brands share this in common
-- providing excellent service as we deliver convenience and value to home
ownership."
    Also part of the sale are the statewide franchise networks in Iowa of
First Realty/Better Homes & Gardens and of Iowa Realty, which have
relationships with 42 and 45 independent real estate brokers, respectively.
Iowa Realty will continue managing for a period of time the development and
sales of AmerUs Group's extensive central Iowa land holdings.  Other services
included in the sale are Iowa Title and Midland Escrow Services, both based in
Des Moines.
    Bright praised the strong management of the local real estate companies
for their development of productive networks of sales associates.  Each realty
company will continue to operate independently, retaining its name and
identity.  No changes in management are planned.
    Said R. Michael Knapp, president of Iowa Realty, "We appreciate the
opportunity to forge a partnership with a company the caliber of MidAmerican.
MidAmerican understands the value of the agent network we've developed as well
as the need to support our sales force.  This sale will give us additional
resources and expertise to continue developing services for our agents and
customers."
    After its entry into the real estate business in 1984 with the acquisition
of Iowa Realty, AmerUs Group accelerated its growth in recent years with a
series of acquisitions - and MidAmerican officials promised growth would
continue.  The organization moved into Missouri in 1993 with the purchase of
Carol Jones, Realtors, and by 1996 had acquired a 75 percent stake in Edina
Realty, based in Edina, Minn.
    "We're pleased to become part of MidAmerican.  The opportunities here are
endless as we combine our resources to serve homeowners," said Ronald J.
Peltier, president of Edina Realty.  "With 40 years of experience, Edina has
built a strong reputation for going the extra mile to bring buyers and sellers
together.  We look forward to working with MidAmerican as we expand our sales
together."
    The parties are in the process of negotiating a definitive agreement.  The
transaction requires the expiration of a waiting period following a filing
with the Federal Trade Commission and the Department of Justice.  The sale is
expected to be final in the second quarter of 1998.  MidAmerican was advised
on this transaction by Financial Advisory Partners, L.C., of Des Moines.
    HOME Real Estate Company in Omaha, Neb., which was acquired by AmerUs Home
Services in 1997, is not part of the acquisition by MidAmerican.
    This transaction does not involve AmerUs Life Holdings Inc., the publicly
traded parent company of AmerUs Life Insurance Co., AmVestors Financial Corp.
and Delta Life Corp.
    MidAmerican Energy Holdings Company, headquartered in Des Moines, Iowa,
includes MidAmerican Energy, Iowa's largest energy company.  MidAmerican
Energy serves 648,000 electric customers and 619,000 natural gas customers in
Iowa, Illinois, Nebraska and South Dakota.  MidAmerican's common stock is
traded on the New York Stock Exchange under the symbol MEC.  Information is
available on the Internet at http://www.midamerican.com.


Web site:  http://www.midamerican.com