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To: Riley G who wrote (36116)	1/12/1998 2:05:00 PM
From: Riley G	Respond to of 55532

Friday January 9, 4:32 pm Eastern Time biz.yahoo.com Everen closes Principal deal, layoffs unknown CHICAGO, Jan 9 - Everen Capital Corp [NYSE:EVR - news] said Friday it completed the acquisition of Principal Financial Securities for $75 million in cash. However, Chicago-based Everen did not say how many Principal employees were being let go as a result of the deal. Ted McDougal, an Everen spokesman, said he was not confirming reports from sources that most of Principal's municipal bond traders and investment bankers were told they were fired Thursday. ''The conversations with people who will remain with the firm or not are ongoing,'' he said. McDougal added that a total layoff picture would not be known until Everen has completed an integration plan at some time in the future. Everen announced last month that it was acquiring Dallas-based Principal for $75 million in cash from Des Moines-based The Principal Financial Group. The deal gives Everen more than 600,000 active accounts with holdings of about $55 billion of client assets, according to a news release. Everen said Principal will operate as a separate broker dealer until its back office and other operating activities are combined with that of Everen. That process should be completed during the second quarter of 1998, Everen said. In addition to Dallas, Principal has municipal bond offices in Phoenix, Denver, Fayetteville, Ark., and Chicago. Everen has offices in Chicago, Denver, Dallas, Indianapolis, Kansas City, Lansing, Mich., Milwaukee and San Francisco.

To: Riley G who wrote (36116)	1/12/1998 2:14:00 PM
From: Riley G	Respond to of 55532

Principal muni staff fired in Everen deal--sources biz.yahoo.com By Karen Pierog CHICAGO, Jan 9 - Most of the municipal bond staff at Principal Financial Securities has been fired as a result of the firm's acquisition by Everen Capital Corp (NYSE:EVR - news), according to sources at Principal. Chicago-based Everen announced last month that it was acquiring Dallas-based Principal for $75 million in cash from Des Moines-based The Principal Financial Group. At that time, an Everen spokesman said the two companies would determine which areas were redundant. Sources said Friday that most traders and investment bankers at Principal were let go Thursday. Ted McDougal, a spokesman for Everen, said he could neither confirm nor deny the firings. He said that nothing would be announced until the acquisition deal is closed, possibly as early as Friday. In addition to Dallas, Principal has municipal bond offices in Phoenix, Denver, Fayetteville, Ark., and Chicago. Everen has offices in Chicago, Denver, Dallas, Indianapolis, Kansas City, Lansing, Mich., Milwaukee and San Francisco.

To: Riley G who wrote (36116)	1/12/1998 2:17:00 PM
From: Riley G	Read Replies (1) \| Respond to of 55532

Friday January 9, 4:04 pm Eastern Time biz.yahoo.com EVEREN Capital Corporation Completes Acquisition Of Principal Financial Securities CHICAGO, Jan. 9 -- EVEREN Capital Corporation (NYSE: EVR - news) today announced the completion of its acquisition of Principal Financial Securities, Inc. from The Principal Financial Group for $75 million in cash. The acquisition was originally announced on Dec. 15, 1997. Together, the two firms hold approximately $55 billion of client assets in more than 600,000 active accounts nationwide and employ more than 1,700 investment consultants operating out of approximately 185 branch offices. They also provide comprehensive corporate finance and equity research capabilities to emerging growth companies in select industries as well as complementary investment banking activities in fixed income capital markets, institutional sales and trading. Based on historical results for the nine months ended Sept. 30, 1997, the combined companies produced pro forma annualized net revenues, which include net interest, of $699 million. EVEREN Capital Corporation is the parent company of EVEREN Securities, Inc., which ranks among the 10 largest national full-service brokerage firms in the U.S. Principal Financial Securities and EVEREN Securities will operate as separate broker-dealers until Principal Financial's back office and other operating activities can be combined with those of EVEREN. This process will begin immediately and should be completed during the 1998 second quarter. EVEREN Chairman and Chief Executive Officer James R. Boris said, ''Over the past two years, EVEREN has capitalized on the changes under way in the financial services business by transforming a collection of previously disparate regional firms into a unified securities brokerage with a national scope. Our new associates from Principal Financial Securities will help us gain momentum in a number of key markets critical to continuing our growth.'' EVEREN Capital Corporation is a financial services holding company with operating subsidiaries in the securities brokerage and clearing businesses, as well as an equity interest in Mentor Investment Group, an asset management firm. One of the largest majority employee-owned companies in the U.S., EVEREN is dedicated to expanding its retail franchise while increasing the proportion of revenues contributed by its capital markets and asset management businesses. In addition to EVEREN Securities, EVEREN Capital Corporation also is the parent company of EVEREN Clearing Corp., which provides securities execution and clearing services and commodities clearing services for EVEREN Securities and other broker-dealers. EVEREN Securities, Inc., Principal Financial Securities, Inc. and EVEREN Clearing Corp. are members of the Securities Investor Protection Corporation, the New York Stock Exchange and other principal exchanges.

To: Riley G who wrote (36116)	1/12/1998 2:18:00 PM
From: tonto	Read Replies (1) \| Respond to of 55532

I do not know whether or not it is active or not. The issue was whether or not a case was filed against Zapara: To: +Riley G (35660 ) From: +michael d kugler Sunday, Jan 11 1998 5:32PM EST Reply # of 36117 Zapara is named in a civil suit (by Mork) in California, his State of residence. And he has been served in that suit. The charges are essentially the same. The suit you cite is the federal suit in which residents of a State outside California are named. Try to give us the whole story next time. Somehow from this clear post, Pugs made it into a federal case and advised repeatedly that Kugler is a liar. Zapara is indeed named in a suit. Now hopefully we can focus on the company, the fundamentals, and the squeeze.