FEBRUARY 12, 2008
 

COLUMBIAN FINANCIAL GROUP AND MUTUAL OF DETROIT LIFE INSURANCE COMPANY ANNOUNCE PLANS TO COMBINE THEIR ORGANIZATIONS
 

Mutual of Detroit Life Insurance Company -- based in Plymouth , MI -- and Columbian Financial Group -- based in Binghamton , NY -- today announced their planned combination.  The combination of these two financially strong insurance organizations will create a new, even stronger and more vibrant organization.  Assets will approach $1.2 billion and surplus will approach $100 million.  The new organization will maintain operations in both cities.

Mutual of Detroit is a 67 year old mutual life insurer and employs 55 people.  Like the Columbian Financial Group, Mutual of Detroit has traditionally focused on producing life insurance products for the senior, middle income and lower income marketplace. 

The Columbian Financial Group of life insurance companies, are licensed in all 50 states and have 260 full-time employees.  The lead company in the group, Columbian Mutual, is domiciled in New York .  Columbian celebrated its 125 year history in 2007 and has been a stable employer headquartered in the Greater Binghamton area for the last 100 years!   In 2006 and 2007, Columbian completed mergers with Philanthropic Mutual Life Insurance Company and Farmers & Traders Life Insurance Company, respectively.

Both Mutual of Detroit and Columbian maintain strong financial positions.  With similar marketing philosophies, this combination will not only increase the available financial resources, but also allow the expansion of their products and distribution.

Completion of the combination, targeted for mid 2008, is subject to the organizations satisfactorily completing their exchange of information, final approval by each company's Board of Directors, and approvals from the Michigan Insurance Bureau and the New York Insurance Department.  Upon completion, Mutual of Detroit's current CEO, John ("Ian") Love, will join the new organization's executive management team and Board of Directors.  Thomas E. Rattmann, Columbian Financial Group's CEO, will serve as the new organization's CEO and Chairman of the Board.

For further information please contact Dan Fischer (607-724-2472 x7328).

COLUMBIAN MUTUAL LIFE INSURANCE COMPANY * VESTAL PARKWAY EAST * P.O. BOX 1381 * BINGHAMTON, NY 13902-1381
COLUMBIAN LIFE INSURANCE COMPANY * HOME OFFICE: CHICAGO, IL * ADMINISTRATIVE SERVICE OFFICE: BINGHAMTON, NY 13902-1381
(607) 724-2472                                 www.cfglife.com

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