<PAGE> 1
EXHIBIT 99.1
[WMA CORP LETTERHEAD]
PRESS RELEASE
THE WMA CORPORATION CONTACT: EDWARD F. MCKERNAN
FOR IMMEDIATE RELEASE PHONE: 770/248-3311
THE WMA CORPORATION SELLS $4 MILLION OF PREFERRED
STOCK IN PRIVATE PLACEMENT
ATLANTA, JULY 10, 2000 - On June 30, 2000, The WMA Corporation (the
"Company") sold approximately $4 million of convertible preferred stock, $2.00
par value per share (the "Shares"), in a private placement to accredited
investors consisting primarily of officers of the Company and independent sales
associates of an affiliate. The private placement proceeds increase the
Company's capital base and its business capacity. Independent sales associates
were given this opportunity to increase or secure their equity position in the
Company. Stephens Inc. acted as the placement agent for the Company.
The Shares were offered to persons who are "accredited investors" as
defined in Rule 501(a) of Regulation D under the Securities Act of 1933, in
reliance upon the exemption from registration provided by such regulation and
other applicable federal and state securities laws. The Shares may not be
offered or sold in the United States absent registration or an applicable
exemption from registration requirements.
The WMA Corporation is the parent of WMA Life Insurance Company Limited
(WMA Life), a Bermuda life reinsurer. WMA Life has approximately $9 billion of
life reinsurance in force and nearly $375 million of reinsured annuity benefits
in force. WMA Life reinsures more than 300,000 life insurance policies and
riders and annuity contracts.
11315 Johns Creek Pkwy.
Duluth, GA 30097-1517
P.O. Box 2167
Duluth, GA 30096-9919
770.453.9300
Fax: 770.248.3250
http://www.wmas.com
