EXHIBIT 28.2
                                
 NEWS RELEASE                                                             JMCG
                                
                                CONTACT:       James K. Mitchell, Chairman and
                                               Chief Executive Officer
                                               Pamela R. Schneider, Sr. Vice
                                               President and General Counsel
                                TELEPHONE:     (619) 450-0055
                                
                                
 JMC GROUP STAYS ENFORCEMENT OF FINAL ORDER IN FLORIDA INSURANCE
                           PROCEEDING

SAN DIEGO, CA. (July 17, 1995) -- JMC Group, Inc. (NASDAQ:
JMCG) announced a stay of enforcement of the Final Order issued by
the Florida Department of Insurance against its wholly-owned
subsidiary, James Mitchell & Co. (JMC) and James K. Mitchell,
personally.

The stay provides that the Florida Insurance Department will not
require JMC to obtain an insurance agency license and will not
revoke Mr.Mitchell's insurance license pending a decision on
JMC's appeal of the Final Order.  In the meantime, although JMC
plans to file an immediate appeal of the entire Final Order, JMC
has agreed that it will, to the extent it has not already done
so, comply with the other aspects of the Final Order pending
resolution of the appeal.

"As the industry has changed and regulatory guidelines for the
sale of annuities in banks have been issued, we have complied
with all published guidelines,"  stated Mitchell.  "We believe
that our annuity sales program in Florida, including our
advertising and sales practices, conforms with all applicable
regulations."

Mitchell said the Company was anxious to present its appeal in a
judicial forum.  "Since these proceedings began over two years
ago, legal cases have been decided that we believe support our
position," Mitchell stated.  "The insurance department
proceedings have adversely affected JMC in many ways and we look
forward to finally resolving this issue."

JMC Group, Inc., through its wholly-owned subsidiaries, provides
marketing and integrated support services for the sale of
annuities and mutual funds to customers of financial institutions
across the nation.