CHICAGO, May 30, 1997 - The EVEREN Foundation announced today that it has
received a donation of  $10,113 from Magicworks Entertainment, Inc.
    "Magicworks shares the EVEREN Foundation's vision of expanding educational
opportunities and thereby enhancing the lives of individuals in its
communities," said Joe Marsh, co-chairman of Magicworks and an EVEREN client.
"We value our relationship with EVEREN and are proud to support the firm's
charitable outreach efforts with this contribution."
    "This is the first outside contribution we have received for the EVEREN
Foundation," said Mary Ellen Guest, executive director of the EVEREN
Foundation.  "We are encouraged by  Magicworks' generosity and are pleased to
be able to help clients pursue their philanthropic aspirations."
    The EVEREN Foundation is a not-for-profit corporation through which
employee matching gifts and other charitable programs of EVEREN Capital
Corporation (NYSE: EVR) are coordinated and funded.  EVEREN Capital is the
parent company of EVEREN Securities, Inc., a full-service nationwide
superregional brokerage firm with approximately 135 offices in 27 states.
    In keeping with its long-standing philosophy of community involvement and
charitable giving, EVEREN Capital established the EVEREN Foundation in 1996,
and since its inception the foundation has contributed nearly $350,000 to not-
for-profit organizations. The foundation makes direct grants to charitable
organizations and matches EVEREN employee donations to qualified tax-exempt
organizations.  The foundation is funded by gifts from EVEREN Capital
Corporation, its employees and outside parties.
    In addition, the EVEREN Foundation administers EVEREN Securities'
Community Commitment Day, whereby offices throughout the country donate a
portion of a specified day's net revenues to local not-for-profit
organizations.
    Magicworks Entertainment, Inc. manages, promotes and merchandises live
entertainment, theatrical productions and arts facilities. The company
currently acts as exclusive management and booking agent for more than 23
shows, including "David Copperfield," Ken Hill's "Phantom of the Opera,"
"Nutcracker on Ice," "Victor Victoria," and "Rent."  Based in Miami Beach,
Magicworks has approximately 60 employees in offices in New York, Cleveland,
Seattle, Atlanta and Hong Kong.
    Headquartered in Chicago, EVEREN Capital Corporation is among the largest
employee-owned companies in the nation.  EVEREN Capital is the parent company
of EVEREN Securities, Inc. and EVEREN Clearing Corp., which provides
securities execution and clearing services and commodities clearing services
for EVEREN Securities and other broker-dealers.  EVEREN Securities and EVEREN
Clearing are members of the Securities Investor Protection Corporation and the
New York Stock Exchange.