OTHER NEWS - March 16, 1992

Equitable Begins Mailing Ballots: The Equitable has begun mailing its 2.2 million policyholders over a ton of documents--the equivalent of 145 African elephants, executives have joked--to solicit their approval for converting to a public company. For seven days ending Friday, 315,000 one-pound packages will be sent out each day in what is the largest personalized mailing in the history of the U.S. Postal Service. Contained in each 326-page document are instructions on how to vote on Equitable’s so-called de-mutualization plan, which will transform the nation’s third-largest insurer into a public concern owned by shareholders from a mutual company owned by policyholders.