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Year-to-date Financial highlights as of
May 31, 2009:
Total Assets = $23,559,986 (up 5.8%)
Total Shareholders Equity = $16,541,624 (up 0.6%)
Life insurance in force = $13,589,641 (down 0.9%)
Total Revenues (incl. capital gains) = $1,102,298 (down 18.9%)
Net Income = $501,025 (down 34.5%)
These figures are unaudited.
The percentage changes are the difference between
5/31/08 and 5/31/09
figures.
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The Board of Directors has authorized the purchase of Company stock at a price
equal to 90% of the last available book value, as prepared on a GAAP basis,
adjusted for unpaid declared dividends. Please note that this offer is
subject to change. See the complete Tender Offer.
As of May 31, 2009, this adjusted book value is $3.356 per share.
Therefore, the current tender price is $3.02 per share.
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The following semi-annual dividends have been declared payable during 2009 to
stockholders of record at the end of the month preceding payment:
Declared on January 13, 2009; a 12 cent per share dividend paid April 10, 2009.
Declared on June 9, 2009; a 12 cent per share dividend to be paid October 9, 2009.
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