Sheldon Zucker named President and CEO of Allied Bond & Collection Agency

Business Wire, June 17, 1997

GREENWICH, Conn.--(BUSINESS WIRE)--June 17, 1997--Allied Bond & Collection Agency, Inc., a subsidiary of The Union Corporation (NYSE:UCO), a leading provider of specialized credit and receivables management services, announced today it has named Sheldon Zucker (49) as President and Chief Executive Officer, effective July 1, 1997. Zucker had been Executive Vice President and Chief Operating Officer.

Herbert Silver and Bernard Silver will remain as Co-Chairmen of Allied. In announcing the appointment, Allied's Co-Chairmen said, "Sheldon Zucker has had broad, diversified, hands-on experience in every area of the collections industry. He has been instrumental in the development of policies and procedures relating to the collections operations and is a key contributor to the design and implementation of Allied's growth."

Zucker joined Allied in 1970, and was appointed Executive Vice President and Chief Operating Officer in 1993. He is a member of the Executive Management Group of The Union Corporation, as well as a member of the Board of Directors of Allied.

The Union Corporation is a leading provider of a range of specialized credit and receivable management outsourcing services to both large and small companies.

This release is available on the KCSA Public Relations website at www.kcsa.com

CONTACT: The Union Corporation, Greenwich

Nicholas P. Gill

203/629-0505

or

KCSA

Adam Friedman/Joseph Mansi

212/682-6300 ext. 215/205