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A.M. Best Comments on the Pending Acquisition of Alliance Mutual


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Joel Silverthorn-P/C

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Steven Faulks-L/H

(908) 439-2200, ext. 5035

steven.faulks@ambest.com

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Jim Peavy

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Rachelle Morrow

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rachelle.morrow@ambest.com


FOR IMMEDIATE RELEASE

OLDWICK, N.J. - MAY 16, 2007 12:00 AM (EDT)
A.M. Best Co. has commented that the ratings of Alliance Mutual Insurance Company (Alliance) (Greensboro, NC) remain unchanged following the recent announcement that United Heritage Financial Group, Inc. (UHFG) (Idaho) will be acquiring Alliance.

UHFG and Alliance have executed a preliminary agreement. The transaction, which will include Alliance's conversion from a mutual association to a stock company, is subject to regulatory approval and the approval of Alliance's members. The demutualization is expected to be completed before the end of the year, closely followed by the transaction. A.M. Best will monitor the progress of this transaction going forward.

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