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Non-Tech : Symons Intl Group (SIGC) -- Ignore unavailable to you. Want to Upgrade?

To: DaveAu who wrote (27)	10/7/1998 7:38:00 PM
From: DaveAu	Read Replies (1) \| Respond to of 31

I just found the news: OCTOBER 7, 1998 Goran Capital Inc. Third Quarter 1998 Results To Be Below Analysts' Forecasts TORONTO, ONTARIO--Goran Capital Inc., a leading provider of crop and non-standard automobile insurance, today announces that its results for the third quarter of 1998 will be below analysts' estimates. Today, Goran announces that its financial results for the third quarter of 1998 are expected to be below consensus analysts' forecasts for the Company and that the Company expects to record a loss for the quarter. These operating results are due primarily to catastrophic weather events affecting the Company's crop operations. These losses are mainly due to wind and hail losses incurred due to Hurricanes Bonnie and Georges and other weather related events. The Company will, therefore, record the results for its crop company at break-even for the nine months ended September 30, 1998. The non-standard auto insurance companies continue to be profitable. The Company expects to release more detailed estimates of its third quarter results on Monday, October 12, 1998, and the Company further expects to release a full report on its third quarter 1998 earnings during the first week of November. Conference Call: There will be a conference call to discuss the Company's results of operations for the third quarter at 4:00 p.m. Eastern Daylight Time on Monday, October 12, 1998; dial 1-800-275-3210 and ask for the "SIG Conference Call." A digital replay of this call will be available immediately after the call and anyone who misses the call can call 1-800-951-9642 and listen to the replay. The replay will be available until midnight, October 16, 1998. GORAN CAPITAL INC. (TSE - GNC; NASDAQ/NM - GNCNF) of Toronto is primarily engaged in the non-standard automobile insurance, reinsurance, crop insurance and surplus lines underwriting. Goran subsidiaries maintain active insurance licenses in 39 U.S. states. The company derives more than 95 percent of gross revenue from the United States. /T/ Anyone wishing further information may contact: Alan G. Symons President and Chief Executive Officer Indianapolis (317)259-6302 or Toronto (416) 594-1155 Websites: IGF www.igfinsurance.com /T/ -30- FOR FURTHER INFORMATION PLEASE CONTACT: Goran Capital Inc. Media Contact: Alan G. Symons President/CEO (317) 259-6302 E-mail: agsymons@aol.com or CIBC Wood Gundy Analyst Contact: Mark Maxwell (416) 594-7446 INDUSTRY: FIS SUBJECT: ERN