Protective to Acquire Lyndon Insurance Group

20 October 1999

    BIRMINGHAM, Ala., Oct. 20 -- Protective Life Corporation
announced today that its principal subsidiary, Protective Life
Insurance Company, has agreed to acquire the Lyndon Insurance Group from the
Frontier Insurance Group, Inc. for a purchase price of
approximately $163.5 million.
    Lyndon manufactures and markets a variety of specialty insurance products,
including credit life insurance, credit disability insurance, and vehicle and
marine service agreements.  The company distributes products on a national
basis through financial institutions and automobile dealers.  Lyndon had new
premium sales of approximately $165 million in its continuing product lines in
1998 and has total assets of approximately $500 million.  Lyndon's home office
is in St. Louis, Missouri.
     Drayton Nabers, Jr., Chairman and Chief Executive Officer of Protective,
stated:  "We are delighted to add the Lyndon Insurance Group to our Financial
Institutions Division.  Lyndon will complement and augment our existing credit
insurance and service contract businesses and open up new opportunities in
other related product lines.  The company has an entrepreneurial,
growth-oriented culture and a solid management team.  We look forward to
integrating Lyndon into our existing operations and expect to benefit from
increased market presence and economies of scale in the credit insurance
business."
    The transaction is subject to regulatory approval and certain customary
closing conditions.
    Protective Life Corporation provides financial services through the
production, distribution and administration of insurance and investment
products throughout the United States.  It currently has annual revenues of
approximately $1.5 billion and assets of $12.5 billion.
    This release includes "forward-looking statements" which express
expectations of future events and/or results.  All statements based on future
expectations rather than on historical facts are forward-looking statements
that involve a number of risks and uncertainties, and the Company cannot give
assurance that such statements will prove to be correct.  Please refer to
Exhibit 99 of the Company's most recent Form 10-Q for more information about
factors which could affect future results.