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| Reliance Surety Group, Inc. |
| Three Parkway, Philadelphia, PA 19102 * (215) 864-4000 |
| Business Description | The company develops, markets and underwrites a broad array of surety and fidelity bonds for a diverse range of customers. |
|
Filing Information Not yet | ||||
| To Trade As | RSF (NYSE) | Industry | Financial (SIC 6331) | |
| Type of Stock Offered | Common Shares | Filing Date | 10/27/99 | |
| Domestic Shares Filed | 0 | Filing Price | - - | |
| Foreign Shares Filed | 0 | Offering Amount | $100,000,000 | |
| Company Shares | 0 | Est. Expenses | - - | |
| Selling Shrhldrs Shares | 0 | Post-IPO Shares | - - | |
| Being spun off from | Reliance Group Holdings | |||
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Donaldson, Lufkin & Jenrette Securities Corp. | Lead Manager | (212) 371-0641 |
| Bear, Stearns & Co. Inc. | Co-manager | (212) 272-4850 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 6 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/94 | 12/31/95 | 12/31/96 | 12/31/97 | 12/31/98 | 6/30/98 | 6/30/99 |
| Revenues | 108.833 | 127.355 | 147.416 | 167.251 | 196.693 | 93.670 | 101.391 |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | 27.995 | 43.822 | 36.234 | 38.470 | 54.410 | 25.871 | 17.783 |
| E.P.S | - | - | - | - | - | - | - |
| Revenue Growth (%) | 17.02 | 15.75 | 13.46 | 17.603 | 8.24 | ||
| Net Income Growth (%) | 56.54 | -17.32 | 6.17 | 41.43 | -31.26 | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | 25.72 | 34.41 | 24.58 | 23.00 | 27.66 | 17.54 | 27.62 |
| Cash Flow - Oper. | - | - | - | ||||
| Cash Flow - Inv. | - | - | - | ||||
| Cash Flow - Fin. | - | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 6/30/99 | Financial Ratios | ||||
| Total Assets | 583.01 | Current Assets | - | Current Ratio | - |
| Total Liab. | 363.62 | Current Liab. | - | Debt Ratio | 62.37% |
| Total Equity | 219.39 | Working Cap. | - | Debt to Equity Ratio | 1.66 |
| Cash | - | Return on Assets | 3.05% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for payment of holding company expenses and stockholder dividends, the balance will be contributed to the capital of subsidiary Reliance Surety. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Dewey Ballantine |
| Bank's Law Firm | Cahill Gordon & Reindel |
| Auditor | Deloitte & Touche |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Reliance Group Holdings | 100.00 | |
| Note: represents ownership of 5% or more prior to the offering. | ||