MCKINNEY, Texas, Sept. 29 /PRNewswire-FirstCall/ -- Torchmark
Corporation (NYSE: TMK) and its Delaware business trusts, Torchmark Capital
Trust I (NYSE: TMKPRT) and Torchmark Capital Trust II (NYSE: TMKPRS)
announced today that Torchmark Capital Trusts I and II will redeem all
their outstanding 7 3/4% Trust Preferred Securities on November 2, 2006.
Torchmark Capital Trust I currently has 5,000,000 securities outstanding
and Torchmark Capital Trust II currently has 1,000,000 securities
outstanding. The redemption price will be the liquidation amount of $25.00
per share plus an accrued but unpaid dividend payment to the redemption
date of $0.0054 per share for a total payment of $25.0054 per share.
Because all the Trust Preferred Securities are held through the Book-Entry
Only Issuance System at Depository Trust Company (DTC), DTC will notify
holders.
Torchmark Corporation is a holding company specializing in life and
supplemental health insurance for "middle income" Americans marketed
through multiple distribution channels including direct response, and
exclusive and independent agencies. Torchmark has several nationally
recognized insurance subsidiaries. Globe Life And Accident is a
direct-response provider of life insurance known for its administrative
efficiencies. American Income Life provides individual life insurance to
labor union members. Liberty National Life, one of the oldest traditional
life insurers in the Southeast, is the largest life insurer in its home
state of Alabama. United American is a consumer-oriented provider of
supplemental health insurance.
SOURCE Torchmark Corporation
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Related links:
http://www.torchmarkcorp.com
http://www.prnewswire.com/comp/885425.html /
CONTACT:
Joyce Lane, Vice President, Investor
Relations of Torchmark Corporation, +1-972-569-3627, or fax,
+1-972-569-3282, or jlane@torchmarkcorp.com
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