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American Mutual
Holding Company
Exhibit 99.2
For More Information, Contact:
Jonna LaToure, Sr. Vice President-Corporate Communications
AMHC/AmerUs Life Holdings
515/557-3910
AMERICAN MUTUAL HOLDING COMPANY
COMPLETES DEMUTUALIZATION, CHANGES NAME
DES MOINES, Iowa (September 20, 2000) -- American Mutual Holding Company, the
majority shareholder of AmerUs Life Holdings, Inc. (NYSE: AMH) announced that
its demutualization is effective today. The demutualization was part of the
company's plan of conversion that also included the merger of AmerUs Life
Holdings with and into American Mutual Holding Company. The name of the
surviving publicly-traded company is AmerUs Group Co., and its stock is traded
on the New York Stock Exchange under the current symbol (NYSE: AMH). Current
shareholders will exchange their shares for shares of AmerUs Group on a
one-for-one basis.
AmerUs Group is in the process of distributing its stock, cash or policy
credits, currently valued at nearly $800 million, to its eligible members.
"Our new, demutualized structure provides several important benefits. First, we
now have a greatly simplified corporate structure. Second, we are distributing
17.4 million shares of stock to our members and no longer have a single
controlling owner. Finally, our liquidity is enhanced since the number of shares
publicly-traded has more than doubled. We believe this will create long-term
value for our shareholders," said Roger K. Brooks, chairman, president and CEO
of AmerUs Group.
AmerUs Group is a publicly-traded Iowa corporation located in Des Moines, Iowa,
engaged through its subsidiaries in the business of marketing, underwriting and
distributing individual life insurance and annuity products in 49 states, the
District of Columbia and the U.S. Virgin Islands. Its wholly-owned subsidiaries
include AmerUs Life Insurance Company, Delta Life Corporation, and its operating
subsidiary, Delta Life and Annuity Company, and AmVestors Financial Corporation,
located in Topeka, Kansas, with two wholly-owned operating subsidiaries --
American Investors Life Insurance Company, Inc. and Financial Benefit Life
Insurance Company. As of June 30, 2000, the company's total assets were $11.0
billion and shareholders' equity totaled $755.4 million.
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