Server: Netscape-FastTrack/2.0 Date: Thu, 18 Dec 1997 10:01:09 GMT Accept-ranges: bytes Last-modified: Wed, 17 Dec 1997 20:14:31 GMT Content-length: 4516 Content-type: text/html Corporate News Release









Hansen named Chief Investment Officer, Equity Investments at Colonial

Boston, October 16, 1997 - Liberty Financial Companies (NYSE: L) announces today that Loren A. Hansen has been named Chief Investment Officer, Equity Investments, at Colonial Management Associates. Mr. Hansen will also continue in his role as director of equity investments at Stein Roe & Farnham. Colonial and Chicago-based Stein Roe & Farnham are both Liberty Financial Companies.

"In this newly-created position, Loren will help Colonial expand and strengthen its equity investment capabilities," said Harold W. Cogger, Executive Vice President of Liberty Financial Companies. "Equity asset management is a significant focus at Liberty Financial. Under Loren's guidance, both Colonial and Stein Roe will continue to enhance their equity fund management expertise while preserving the individual and unique strengths of each company."

Mr. Hansen came to Stein Roe in 1995 as that company's Executive Vice President and Director of Equity Investments. From 1984 to 1995 he was at Northern Trust Company, Chicago, rising to the position of head of the Institutional Asset Management Group. Mr. Hansen was a Vice President at Dean Witter Reynolds from 1982 to 1984 and a Corporate Vice President at PaineWebber from 1979 to 1982. Earlier in his career, he was an institutional fixed income representative at Bear Stearns & Company and held several positions at Continental Illinois National Bank.

A Chartered Financial Analyst, Mr. Hansen earned a bachelor's degree from the University of Nebraska, Lincoln, and a master's degree in business administration from Columbia University.

"At Colonial, our goal is to run a broader, deeper equity fund operation," Stephen E. Gibson, CEO of The Colonial Group, Inc. "Over the past year we have made significant progress in strengthening our equity capabilities. Loren's talents and experience, as demonstrated by his results at Stein Roe, will provide Colonial with the leadership to continue that process and position Colonial as a premier manager of equity assets. "

Colonial was founded in 1931. The Colonial Family of Funds includes 35 open-end and five closed-end funds, with approximately $17 billion in assets under management.

Liberty Financial Companies is an integrated asset management organization. It has more than $50 billion in assets under management in an array of fixed, variable and indexed annuities, private and institutional accounts and 74 mutual funds that meet the investing needs of more than 1.5 million investors worldwide. Liberty Financial's operating companies include Keyport Life Insurance Company, The Colonial Group, Stein Roe & Farnham, Inc., Newport Pacific Management, Independent Financial Marketing Group and Liberty Asset Management Company.

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