Integon Corporation Announces Extension of Exchange Offer for 10-3/4% Capital Securities

30 June 1997

    WINSTON-SALEM, N.C., June 30 -- Integon Corporation
announced today that Integon Capital I has extended to 5:00 P.M.,
New York City time, on July 3, 1997 its offer to exchange (the "Exchange
Offer") up to $100,000,000 in aggregate liquidation amount of its 10-3/4%
Capital Securities, Series B (the "Exchange Securities") for up to
$100,000,000 in aggregate liquidation amount of its outstanding 10-3/4%
Capital Securities, Series A that were issued and sold in a transaction exempt
from registration under the Securities Act of 1933, as amended (the
"Outstanding Securities").  As of 5:00 P.M. on June 30, 1997, the original
expiration date, $98,750,000 aggregate liquidation amount of Outstanding
Securities had been tendered.
    The Exchange Agent for the Exchange Offer is First Union National Bank of
North Carolina, 230 South Tryon Street, 9th Floor, Charlotte, NC 28288-1179,
Attention:  Mike Klotz.
    Integon Corporation, through its wholly owned property and casualty
insurance subsidiaries, specializes in the underwriting and marketing of
specialty automobile insurance products to individuals.  The Company,
headquartered in Winston-Salem, North Carolina, markets its products through
approximately 13,000 agencies in 30 states.

SOURCE  Integon Corporation