Exhibit (d)(13)  
                                             

                               

From:  Vincent T. Papa                Dawn Dover
       (212) 332-8080                 Robert Siegfried
       Jeanne Hotchkiss               Kekst and Company
       (860) 674-6754                 (212) 593-2655

FOR IMMEDIATE RELEASE

               GUARANTY NATIONAL RECOMMENDS ACCEPTANCE OF 
                   ORION CAPITAL CASH TENDER OFFER 
         FOR GUARANTY NATIONAL SHARES AT INCREASED PRICE OF 
           $18.50 PER SHARE; OFFER EXTENDED TO JULY 1, 1996
                  
New York, New York, June 18, 1996 -- Orion Capital Corporation
(NYSE: OC) today announced that the Board of Directors of Guaranty
National Corporation (NYSE: GNC), pursuant to the recommendation of
its Special Committee, has now recommended that Guaranty National's
shareholders accept the outstanding Offer to Purchase by Orion and
certain subsidiaries of up to 4,600,000 shares of Guaranty National
common stock.  The offered price has been increased from $17.50 per
share to $18.50 per share in cash and the Expiration Date of the
Offer has been extended to July 1, 1996.

In response to a request made by the Special Committee, Orion has
conditioned its revised offer on the receipt by it of a minimum of
3,776,000 validly tendered shares.  Orion stated that through the
close of business on June 17, 1996, 3,444,509 shares of Guaranty's
Common Stock have been tendered pursuant to the Offer.  The Offer
continues to be subject to proration if more than 4,600,000 shares
of common stock are validly tendered.

Orion Capital Corporation is engaged in the specialty property and
casualty insurance business through wholly-owned subsidiaries which
include EBI Companies, DPIC Companies, Connecticut Specialty
Insurance Group, SecurityRe Companies and Wm. H. McGee & Co. Inc.,
as well as through its 49.5% ownership interest in Guaranty
National Corporation. 
 
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