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Morgan Keegan & Company, Inc. Upgrades Automobile Protection Corporation to Strong Buy

6 February 1998

Morgan Keegan & Company, Inc. Upgrades Automobile Protection Corporation to Strong Buy

    ATLANTA, Feb. 6 -- Automobile Protection Corporation
announced today that Morgan Keegan & Company, Inc. upgraded its
rating on the stock of APCO to a strong buy after the Company reported record
fourth quarter results on February 4, 1998.
    APCO (established 1984) and its administrative subsidiary, The Aegis
Group, Inc., is a leading administrator of vehicle service contract and
warranty products for the automotive and recreational vehicle industries.
    "Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995:  To the extent that this news release discusses financial
projections, information or expectations about our products or markets, or
otherwise makes statements about the future, our statements are forward
looking and are subject to a number of risks and uncertainties that could
cause actual results to differ materially from the statements made.  These
factors include, but are not limited to, the competitive nature of the
industry in which some competitors have significantly greater financial
resources and name recognition than the Company, the availability of insurance
coverage at competitive rates and of insurance funds to make claims payments,
the Company's dependence on independent sales representatives, dealers and a
major automobile manufacturer, the cyclical nature of the automobile industry,
and other risks detailed in the Company's Form 10-K that has been filed with
the Securities & Exchange Commission in connection with its 1996 year.

SOURCE  Automobile Protection Corporation