American Public Holdings, Inc.
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                 2305 Lakeland Drive, Jackson, Mississippi 39208


FOR IMMEDIATE RELEASE
Date:     June 10, 1999
Contact:  Joseph C. Hartley, Jr.
          (601) 936-3201  Fax: (601) 936-2157




American Public Holdings in Discussions with Central Benefits Mutual

Jackson,  Mississippi (June 10, 1999) - American Public Holdings, Inc. announced
today that it is in  negotiations  to be  acquired  by Central  Benefits  Mutual
Insurance  Company.   The  proposed  transaction  will  be  subject  to  further
negotiations between the two parties,  due diligence,  approval by the Boards of
Directors  of both  organizations,  approval of the holders of a majority of the
outstanding shares of the Company, and regulatory approvals.

American  Public  Holdings,  Inc. is a holding  company for American Public Life
Insurance Company, a Mississippi domestic life and health insurance company with
its home office in Jackson, Mississippi.  American Public Life is licensed to do
business in twenty-five states and specializes in supplemental  health insurance
products,  including cancer,  accident,  intensive care, heart attack/stroke and
dental insurance policies.  If the proposed  transaction is completed,  American
Public Life would remain in Jackson, Mississippi.

Central Benefits Mutual Insurance  Company is based in Columbus,  Ohio.  Central
Benefits and its subsidiaries offer group health and life insurance products and
health claims administration in 25 states.