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Goran Capital Inc. Announces Management Changes

1 April 1999

Goran Capital Inc. Announces Management Changes

    TORONTO, April 1 -- Goran Capital, Inc.
, a leading specialty insurer, the fourth largest
crop and twelfth largest nonstandard auto insurer, announced today that Thomas
Kaehr is joining the Company as its Chief Financial Officer.
    The Company today announced that Gary Hutchcraft, the Company's Chief
Financial Officer resigned on March 4, 1999 and will be leaving the Company in
early April.  With his departure, Thomas R. Kaehr, formerly a 2nd Vice
President of Lincoln National Corporation, Ft. Wayne, Ind., will assume the
position of Vice President and Chief Financial Officer for the Company.
    Goran Capital Inc. is the 12th largest nonstandard automobile insurer in
the United States.  Nonstandard auto insurance is sold through independent
insurance agents.  It generally carries higher premiums, and low limits of
liabilities.  The Company utilizes proprietary systems and procedures to
achieve operating efficiencies.  Goran's subsidiaries Pafco General Insurance
Company and Superior Insurance Company write nonstandard auto insurance in 22
states.  Goran's IGF Insurance Company is the fourth largest insurer of crops
in the US.  IGF Insurance Company writes business in 42 states plus Canada.
Visit the Company's Web site at http://www.sigins.com.
    All statements, trend analyses, and other information contained in
this release and elsewhere (such as in other filings by the Company or its
affiliates with the Securities and Exchange Commission, press releases,
presentations by the Company or its management or oral statements) relative to
markets for the Company's products and/or trends in the Company's operations
or financial results, as well as other statements including words such as
"anticipate," "could," "feel(s)," "believe," "believes," "plan," "estimate,"
"expect," "should," "intend" and other similar expressions, constitute
forward-looking statements under the Private Securities Litigation Reform Act
of 1995.  These forward-looking statements are subject to known and unknown
risks, uncertainties and other factors which may cause actual results to be
materially different from those contemplated by the forward-looking
statements.  Such factors include, among other things:  (i) general economic
conditions, including prevailing interest rate levels and stock market
performance; (ii) factors affecting the Company's crop operations such as
weather-related events, final harvest results, commodity price levels,
governmental program changes, new product acceptance and commission levels
paid to agents; and (iii) factors affecting the Company's nonstandard
automobile operations such as premium volume, levels of operating expenses as
compared to premium volume, ultimate development of loss reserves and
implementation of the Company's operation system.

               Anyone wishing further information may contact:
                              Douglas H. Symons
                                  President
                          Indianapolis 317-259-6413
                        Websites:  SIG http://www.sigins.com
                           IGF http://www.igfinsurance.com