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SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
November 5, 1996
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Date of Report (Date of earliest event reported)
DIGNITY PARTNERS, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-27736 94-3165263
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(State of other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) No.)
1700 Montgomery Street, Suite 250, San Francisco, CA 94111
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (415)394-9467
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Item 5. Other Events.
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On October 18, 1996, the Company issued a press release announcing a
share repurchase program. The press release is filed herewith as Exhibit 99.1.
On November 4, 1996, the Company issued a press release announcing an
investment in American Information Company, Inc. The press release is filed
herewith as Exhibit 99.2.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(c) Exhibits
99.1 Text of Press Release dated October 18, 1996.
99.2 Text of Press Release dated November 4, 1996.
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SIGNATURES
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Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by
the undersigned thereunto duly authorized.
DIGNITY PARTNERS, INC.
By /s/Alan B. Perper
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Alan B. Perper
President
Date: November 5, 1996
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EXHIBIT INDEX
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Sequential
Exhibit Number Document Description Page Number
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99.1 Text of Press Release dated October 18, 1996. 1-2
99.2 Text of Press Release dated November 4, 1996. 3-4
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Exhibit 99.1
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FOR IMMEDIATE RELEASE
October 18, 1996
DIGNITY PARTNERS ANNOUNCES SHARE REPURCHASE PROGRAM
SAN FRANCISCO - (October 18, 1996) Dignity Partners, Inc. (Nasdaq: DPNR) today
announced that the Board of Directors of the Company approved a share repurchase
program pursuant to which the Company is authorized to purchase from time to
time up to 1 million shares of the Company's common stock at prevailing market
conditions.
The company stated that the Board of Directors believes that the market has
overreacted to certain announcements by the Company since July 1996 and that the
current price of the Company's common stock does not reflect management's belief
as to the current value of the Company's portfolio.
Dignity Partners, Inc. is a specialty finance services company that provides
viatical settlements for terminally ill persons. A viatical settlement is the
payment of cash in return for an ownership interest in, and the right to receive
the death benefit from, a life insurance policy. On
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July 16, 1996, the Company announced that it was temporarily ceasing to process
new applications of policies insuring the lives of individuals diagnosed with
HIV and AIDS while it further analyzed the research results reported at the
International AIDS Conference in Vancouver, British Columbia. On October 9,
1996, the Company announced the execution of an agreement to sell a portion of
its portfolio and a decision to seek stockholder approval to sell all or
substantially all of the Company's assets, (KEYWORD CALIFORNIA AND INDUSTRY
KEYWORD: INSURANCE EARNINGS).
CONTACTS:
DIGNITY PARTNERS, INC., SAN FRANCISCO.
John Ward Rotter, 415/394-9467
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Exhibit 99.2
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FOR IMMEDIATE RELEASE
November 4, 1996
DIGNITY PARTNERS ANNOUNCES INVESTMENT IN AMERICAN INFORMATION COMPANY, INC.
SAN FRANCISCO - (November 4, 1996) Dignity Partners, Inc. (DPNR) today
announced that it purchased $3,000,000 of convertible preferred stock of
San Francisco based American Information Company, a privately held
company. American Information Company Inc. does business nationally as
Consumers Car Club and provides customers with a broad range of automobile
related services by telephone (1-800-CAR-CLUB) and via the Internet
(www.carclub.com). Services include a comprehensive array of products
including automotive information, buying support services, extended warranty
contracts, insurance and financing of automobile purchases.
The investment offers Dignity Partners, a specialty financial services company,
the opportunity to participate in and enhance the growth potential of a leading
edge
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provider of electronically delivered consumer services. The Company is
exploring the viability of expanding its offerings of financial products in this
developing market and building upon its managerial and operational expertise.
The Company is continuing to analyze other strategic opportunities through its
engagement of Jeffries & Co.
CONTACTS:
DIGNITY PARTNERS, INC., SAN FRANCISCO.
John Ward Rotter, 415/394-9467
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