-----BEGIN PRIVACY-ENHANCED MESSAGE-----
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<SEC-DOCUMENT>0000008177-10-000006.txt : 20100507
<SEC-HEADER>0000008177-10-000006.hdr.sgml : 20100507
<ACCEPTANCE-DATETIME>20100507112309
ACCESSION NUMBER:		0000008177-10-000006
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100507
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20100507
DATE AS OF CHANGE:		20100507

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ATLANTIC AMERICAN CORP
		CENTRAL INDEX KEY:			0000008177
		STANDARD INDUSTRIAL CLASSIFICATION:	LIFE INSURANCE [6311]
		IRS NUMBER:				581027114
		STATE OF INCORPORATION:			GA
		FISCAL YEAR END:			0228

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-03722
		FILM NUMBER:		10810824

	BUSINESS ADDRESS:	
		STREET 1:		4370 PEACHTREE RD NE
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319
		BUSINESS PHONE:		4042665500

	MAIL ADDRESS:	
		STREET 1:		4370 PEACHTREE ROAD
		CITY:			ATLANTA
		STATE:			GA
		ZIP:			30319
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form_8kpressre1stqtr2010.htm
<DESCRIPTION>CURRENT REPORT
<TEXT>

<HTML>
<HEAD>
<TITLE>Form 8-K Press Release 1st Quarter 2010</title>
</head>
<body>
<BR><BR><BR>
<p align=center><font size=3 face="times new roman">UNITED STATES<BR>SECURITIES AND EXCHANGE COMMISSION<BR>
 Washington, D.C. 20549</font></p><BR>

<p align=center><font size=3 face="times new roman"><b>FORM 8-K</b></font></p><BR>

<p align=center><font size=3 face="times new roman"> Current Report<BR>
                                                Pursuant to Section 13 or 15(d) of the<BR>
                                                    Securities Exchange Act of 1934<BR></font></p><BR>
<table align=center width=670 cellspacing=0 cellpadding=2 border=0>
<tr>
<td width=33.3%></td>
<td width=33.3%></td>
<td width=33.3%></td>
</tr>
<tr>
<td colspan=3><font size=3 face="times new roman">Date of Report (Date of Earliest Event Reported):
 May 7, 2010 (May 7, 2010)</font></td>
</tr>
</table>
<BR><BR>

<p align=center><font size=3 face="times new roman"><b> ATLANTIC AMERICAN CORPORATION</b><BR></font>
                                      <font size=1 face="times new roman">
(Exact Name of Registrant as Specified in Its Charter)</font></p><BR><BR><BR>


<table align=center width=670 cellspacing=0 cellpadding=2 border=0>
<tr>
<td width=33.3%></td>
<td width=33.3%></td>
<td width=33.3%></td>
</tr>
<tr>

<td align=center><font size=3 face="times new roman"> Georgia<BR>
</font><font size=1 face="times new roman">(State or Other Jurisdiction of Incorporation)</font></td>
<td align=center><font size=3 face="times new roman">0-3722<BR></font>
<font size=1 face="times new roman"> (Commission File Number)</font></td>
<td align=center><font size=3 face="times new roman">58-1027114<BR></font>
<font size=1 face="times new roman">(I.R.S. Employer Identification No.)</font></td>
</tr>
<tr>
<td colspan=3>&nbsp;</td>
</tr>
<tr>

<td><font size=3 face="times new roman">4370 Peachtree Rd., N.E.<BR>
Atlanta, Georgia <BR></font><font size=1 face="times new roman">(Address of Principal Executive Offices)</font></td>
<td>&nbsp;</td>
<td align=center><font size=3 face="times new roman">30319<BR>
</font><font size=1 face="times new roman">(Zip Code)</font></td>
</tr>
</table>
 <BR><BR>
<table align=center width=550 cellspacing=0 cellpadding=2 border=0>
<tr>
<td width=33.3%></td>
<td width=33.3%></td>
<td width=33.3%></td>
</tr>
<tr>
<td colspan=3><font size=3 face="times new roman">Registrant's Telephone Number, Including Area Code:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
(404) 266-5500</font></td>
</tr>
</table>
<BR>

<table align=center width=670 cellspacing=0 cellpadding=2 border=0>
<tr>
<td width=5%></td>
<td width=5%></td>
<td width=90%></td>
</tr>
<tr>
<td colspan=3><font size=3 face="times new roman">Check the appropriate box
below if the Form 8-K filing is intended to simultaneously satisfy the filing
obligation of the registrant under any of the following provisions:</font></td>
</tr>
<tr>
<td colspan=3>&nbsp;</td>
</tr>
<tr>
<td align=center>&#143;</td>

<td colspan=2><font size=3 face="times new roman">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
</font></td>
</tr>
<tr>
<td align=center>&#143;</td>

<td colspan=2><font size=3 face="times new roman">Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)</font></td>
</tr>
<tr>
<td align=center>&#143;<BR>&nbsp;</td>

<td colspan=2><font size=3 face="times new roman">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR 240.14d-2(b))</font></td>
</tr>
<tr>
<td align=center>&#143;<BR>&nbsp;</td>

<td colspan=2><font size=3 face="times new roman">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR 240.13e-4(c))</font></td>
</tr>
</table>


<BR><BR><BR><BR><BR>






<hr noshade size=2>
<PAGE>
<H5 align="left" style="page-break-before:always"></H5>









<p><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 2.02.&nbsp;&nbsp;
<b>Results of Operations and Financial Condition</b></FONT></p>

<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2>On May 7, 2010, Atlantic
American Corporation (the &#147;Registrant&#148;) reported its results of
operations for its first quarter ended March 31, 2010. A copy of the press
release issued by the Registrant concerning the foregoing results is furnished
herewith as Exhibit 99.1 and is incorporated herein by reference.</font></p>

<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2>The information contained
herein and in the accompanying exhibit shall not be incorporated by reference
into any filing of the Registrant, whether made before or after the date hereof,
regardless of any general incorporation language in such filing, unless
expressly incorporated by specific reference to such filing. The information in
this report, including the exhibit hereto, shall not be deemed to be
&#147;filed&#148; for purposes of Section 18 of the Securities Exchange Act of
1934, as amended, or otherwise subject to the liabilities of that section or
Sections 11 and 12(a)(2) of the Securities Act of 1933.
</FONT></P>

<p><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Item 9.01.&nbsp;&nbsp;
<b>Financial Statements and Exhibits</b></FONT></p>

<p><FONT FACE="Times New Roman, Times, Serif" SIZE=2>(d)&nbsp;&nbsp;Exhibits</font></p>
<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2>99.1 Press Release, dated
May 7, 2010, reporting the results of operations of the Registrant for its
first quarter ended March 31, 2010. </font></p>



<hr noshade size=2>
<PAGE>
<H5 align="left" style="page-break-before:always"></H5>





<p align=center><font size=2 face="times new roman"><b> SIGNATURES</b></font></p>
<p><font size=2 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Pursuant to the
requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned, hereunto duly authorized.</font></p>

<table align=center width=650 cellpadding=5 cellspacing=0 border=0>
<tr>
<td width=50%>
</td>
<td width=50%>
</td>
</tr>
<tr>
<td>&nbsp;</td>
<td><font size=2 face="times new roman"><b> ATLANTIC AMERICAN CORPORATION</b></font></td>
</tr>
</table>

<table align=center width=650 cellpadding=0 cellspacing=0 border=0>
<tr>
<td width=50%>
</td>
<td width=50%>
</td>
</tr>
<tr>
<td colspan=2>&nbsp;</td>
</tr>
<tr>
<td>&nbsp;</td>
<td><font size=2 face="times new roman">&nbsp;&nbsp;&nbsp;By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;/s/ John G. Sample, Jr.</font><hr size=1 noshade></td>
</tr>
<tr>
<td>&nbsp;</td>
<td><font size=2 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John G. Sample, Jr.<BR>
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President and Chief Financial Officer</font></td>
</tr>
</table>

<p><font size=2 face="times new roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;Date: &nbsp;&nbsp; May 7, 2010</font></p>
<BR><BR>





<hr noshade size=2>
<H5 align="left" style="page-break-before:always"></H5>
<PAGE>





<p align=center>
<font face="times new roman, serif" size=2><b>EXHIBIT INDEX</b></font></p>

<p><font face="times new roman, serif" size=2><b>Exhibits:</b></FONT></p>

<p><font face="times new roman, serif" size=2>Exhibit 99.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Press release dated May 7, 2010</font></p>
<BR><BR><BR><BR>

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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>pressrelease0562010.htm
<DESCRIPTION>PRESS RELEASE DATED MAY 7, 2010
<TEXT>




<html>
<head>
<title>
Press Release 5-6-2010
</title>
</head>
<body>

<p align=right><font face="times new roman, serif" size=2><B><U>EXHIBIT 99.1</U></B></font></p>

<p ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3><b>ATLANTIC
AMERICAN CORPORATION REPORTS FIRST QUARTER RESULTS</b></font></p>




<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2>ATLANTA, Georgia, May 7,
2010 - Atlantic American Corporation (Nasdaq- AAME) today reported net income
for the first quarter ended March 31, 2010 of $417,000, or $.01 per diluted
share, compared to $256,000, or $.01 per diluted share, in the first quarter of
2009. Total revenue for the first quarter of 2010 increased to $26.0 million, an
increase of 1.4% from 2009 first quarter revenue of $25.6 million. Premiums for
the first quarter of 2010 increased 2.5% to $23.4 million from $22.8 million for
the comparable quarter in 2009. The increase in premiums for the 2010 quarter
was due to the solid growth in the life and health business, partially offset by the
continued softness in the property &amp; casualty business.</FONT></P>

<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Commenting on the quarter,
Hilton H. Howell, Jr., Chairman, president and chief executive officer, stated
&#147;The 2010 first quarter results make us optimistic for the balance of the
year. Earned premiums in our life and health business during the first quarter
of 2010 were approximately $15.3 million, which was an 11% increase over the
earned premiums in the first quarter of 2009 and a 3% increase over the earned
premiums in the fourth quarter of 2009. Further, the losses incurred in the life
and health business were proportionately lower in the first quarter of 2010 than
in the first quarter of the prior two years. While the earned premium in our
property &amp; casualty business was approximately $8.1 million during the first
quarter of 2010, a level that is consistent with the fourth quarter of 2009, new
business opportunities are being considered, and the prospects for growth seem
positive.&#148; </FONT></P>



<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2><i>Atlantic American is an
insurance holding company involved through its subsidiary companies in specialty
markets of the life, health, and property and casualty insurance industries. Its
principal insurance subsidiaries include American Southern Insurance Company,
American Safety Insurance Company, and Bankers Fidelity Life Insurance Company.</I></FONT></P>

<P align=justify><FONT FACE="Times New Roman, Times, Serif" SIZE=2><i>Note regarding Private
Securities Litigation Reform Act: Except for historical information contained
herein, this press release contains forward-looking statements that involve a
number of risks and uncertainties. Actual results could differ materially from
those indicated by such forward-looking statements due to a number of factors
and risks detailed from time to time in statements and reports that Atlantic
American Corporation has filed with the Securities and Exchange Commission.</I></FONT></P>

<table width=630 cellspacing=0 cellpadding=0 border=0>
<tr>
<td width=45%>&nbsp;</td>
<td width=10%>&nbsp;</td>
<td width=45%>&nbsp;</td>
</tr>

<TR>
<td colspan=3><FONT FACE="Times New Roman, Times, Serif" SIZE=2>For further information
contact: </FONT></td></tr>

<tr>
<td><FONT FACE="Times New Roman, Times, Serif" SIZE=2>John G. Sample, Jr.<BR>
Senior Vice President and Chief Financial Officer<BR>
Atlantic American Corporation<BR>
404-266-5501</font></td>
<td>&nbsp;</td>
<td><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Hilton H. Howell, Jr.<BR>
Chairman , President &amp; CEO <BR> Atlantic American Corporation<BR>404-266-5505</font>
</td></tr>
</table>







<hr noshade size=2>
<H5 align="left" style="page-break-before:always"></H5>
<PAGE>







<p align=center><font size=2 face="times new roman, serif"><B>Atlantic American Corporation<BR>
Financial Data<BR>As of March 31, 2010</b><BR><i>(Unaudited; Dollars in thousands, except per share data)</i></font></p>



<table align=center width=630 cellspacing=0 cellpadding=0 border=0>
<tr>
<td width=50%>&nbsp;</td>
<td width=12%>&nbsp;</td>
<td width=1%>&nbsp;</td>
<td width=12%>&nbsp;</td>
<td width=1%>&nbsp;</td>
<td width=12%>&nbsp;</td>
<td width=1%>&nbsp;</td>
<td width=12%>&nbsp;</td>
</tr>
<tr>
<td>&nbsp;</td>
<td bgcolor="#eeeeee" align=center colspan=3><font size=2 face="times new roman, serif">Three Months Ended<BR>March 31,</font></td>

</tr>
<tr>
<td>&nbsp;</td>

<td align=center colspan=2><font size=2 face="times new roman, serif">2010</font><HR NOSHADE SIZE=1></td>
<td align=center><font size=2 face="times new roman, serif">2009</font><HR NOSHADE SIZE=1></td>

</tr>

<tr bgcolor="#eeeeee">
<td><font size=2 face="times new roman, serif">Insurance premiums</font></td>
<td align=right><font size=2 face="times new roman, serif">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23,358</font></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif">$&nbsp;&nbsp;&nbsp;&nbsp;22,797</font></td>

</tr>
<tr>
<td><font size=2 face="times new roman, serif">Investment income</font></td>
<td align=right><font size=2 face="times new roman, serif">2,557</font></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif">2,735</font></td>

</tr>

<tr bgcolor="#eeeeee">
<td><font size=2 face="times new roman, serif">Realized investment gains, net</font></td>
<td align=right><font size=2 face="times new roman, serif">-</font></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif">13</font></td>

</tr>

<tr valign=top>
<td><font size=2 face="times new roman, serif">Other income</font></td>
<td align=right><font size=2 face="times new roman, serif">48</font><HR NOSHADE SIZE=1></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif">67</font><HR NOSHADE SIZE=1></td>

</tr>
<tr valign=top bgcolor="#eeeeee">
<td><font size=2 face="times new roman, serif"><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue</b></font></td>
<td align=right><font size=2 face="times new roman, serif"><b>25,963</b></font><HR NOSHADE SIZE=1></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif"><b>25,612</b></font><HR NOSHADE SIZE=1></td>

</tr>


<tr>
<td><font size=2 face="times new roman, serif">Insurance benefits and losses incurred</font></td>
<td align=right><font size=2 face="times new roman, serif">15,390</font></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif">14,880</font></td>

</tr>

<tr bgcolor="#eeeeee">
<td><font size=2 face="times new roman, serif">Commissions and underwriting expenses</font></td>
<td align=right><font size=2 face="times new roman, serif">7,140</font></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif">7,518</font></td>

</tr>

<tr>
<td><font size=2 face="times new roman, serif">Interest expense</font></td>
<td align=right><font size=2 face="times new roman, serif">642</font></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif">721</font></td>

</tr>

<tr valign=top bgcolor="#eeeeee">
<td><font size=2 face="times new roman, serif">Other</font></td>
<td align=right><font size=2 face="times new roman, serif">2,217</font><HR NOSHADE SIZE=1></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif">2,186</font><HR NOSHADE SIZE=1></td>

</tr>

<tr valign=top>
<td><font size=2 face="times new roman, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total benefits and expenses</font></td>
<td align=right><font size=2 face="times new roman, serif">25,389</font><HR NOSHADE SIZE=1></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif">25,305</font><HR NOSHADE SIZE=1></td>

</tr>

<tr bgcolor="#eeeeee">
<td><font size=2 face="times new roman, serif">Income before income taxes</font></td>
<td align=right><font size=2 face="times new roman, serif">574</font></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif">307</font></td>

</tr>
<tr valign=top>

<td><font size=2 face="times new roman, serif">Income tax expense</font></td>
<td align=right><font size=2 face="times new roman, serif">157</font><HR NOSHADE SIZE=1></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif">51</font><HR NOSHADE SIZE=1></td>

</tr>
<tr bgcolor="#eeeeee" valign=top>

<td><font size=2 face="times new roman, serif"><b>Net income</b></font></td>
<td align=right><font size=2 face="times new roman, serif"><b>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;417</b></font><HR NOSHADE SIZE=2></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif"><b>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;256</b></font><HR NOSHADE SIZE=2></td>

</tr>

<tr valign=top>
<td><font size=2 face="times new roman, serif"><b>Net income per common share (basic and diluted):</b></font></td>
<td align=right><font size=2 face="times new roman, serif"><b>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01</b></font><HR NOSHADE SIZE=2></td>
<td>&nbsp;</td>
<td align=right><font size=2 face="times new roman, serif"><b>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.01</b></font><HR NOSHADE SIZE=2></td>
</tr>



</table>



<table align=center width=630 cellspacing=0 cellpadding=0 border=0>
<tr>
<td width=50%>&nbsp;</td>
<td width=12%>&nbsp;</td>
<td width=1%>&nbsp;</td>
<td width=12%>&nbsp;</td>
<td width=25%>&nbsp;</td>
</tr>
<tr>
<td><font size=2 face="times new roman, serif"><b>&nbsp;<BR>Selected Balance Sheet Data</b></font></td>
<td align=center colspan=2><font face="times new roman, serif" size=2>March 31,<BR>2010</font><HR NOSHADE SIZE=1></td>


<td align=center><font face="times new roman, serif" size=2>December 31,<BR>2009</font><HR NOSHADE SIZE=1></td>

<td>&nbsp;</td>

</tr>
<tr>
<td bgcolor="#eeeeee"><font size=2 face="times new roman, serif">Total investments</font></td>
<td bgcolor="#eeeeee" align=right><font face="times new roman, serif" size=2>$&nbsp;&nbsp;&nbsp;197,949</font></td>
<td bgcolor="#eeeeee">&nbsp;</td>
<td bgcolor="#eeeeee" align=right><font face="times new roman, serif" size=2>$&nbsp;&nbsp;195,410</font></td>
<td>&nbsp;</td>
</tr>
<tr>
<td><font size=2 face="times new roman, serif">Total assets</font></td>
<td align=right><font face="times new roman, serif" size=2>261,345</font></td>
<td>&nbsp;</td>
<td align=right><font face="times new roman, serif" size=2>262,086</font></td>
<td>&nbsp;</td>
</tr>
<tr>
<td bgcolor="#eeeeee"><font size=2 face="times new roman, serif">Insurance reserves and policy funds</font></td>
<td align=right bgcolor="#eeeeee"><font face="times new roman, serif" size=2>127,995</font></td>
<td bgcolor="#eeeeee">&nbsp;</td>
<td align=right bgcolor="#eeeeee"><font face="times new roman, serif" size=2>129,213</font></td>
<td>&nbsp;</td>
</tr>
<tr>
<td><font size=2 face="times new roman, serif">Debt</font></td>
<td align=right><font face="times new roman, serif" size=2>41,238</font></td>
<td>&nbsp;</td>
<td align=right><font face="times new roman, serif" size=2>41,238</font></td>
<td>&nbsp;</td>
</tr>
<tr>
<td bgcolor="#eeeeee"><font size=2 face="times new roman, serif">Total shareholders' equity</font></td>
<td bgcolor="#eeeeee" align=right><font face="times new roman, serif" size=2>80,670</font></td>
<td bgcolor="#eeeeee">&nbsp;</td>
<td bgcolor="#eeeeee" align=right><font face="times new roman, serif" size=2>77,470</font></td>
<td>&nbsp;</td>
</tr>
<tr>
<td><font size=2 face="times new roman, serif">Book value per common share</font></td>
<td align=right><font face="times new roman, serif" size=2>3.31</font></td>
<td>&nbsp;</td>
<td align=right><font face="times new roman, serif" size=2>3.16</font></td>
<td>&nbsp;</td>
</tr>
</table>

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