GAINSCO Announces Director Action

GAINSCO Announces Director Action 


DALLAS, March 8  /PRNewswire-FirstCall/ -- GAINSCO, INC. (OTC:GNAC) (BULLETIN
BOARD: GNAC)  today announced that at its regular quarterly Board of Directors
meeting Robert J. Boulware, President and Chief Executive Officer of ING Funds
Distributor, LLC ("ING Funds"), was elected a Director to fill the position
recently made vacant by the resignation of Hugh M. Balloch, as previously
announced.

ING Funds is a wholly-owned subsidiary of ING Group and is engaged in the
distribution of mutual funds through intermediary and affiliate channels. Mr.
Boulware, age 48, has been with ING Funds since 1992 and was previously a Vice
President with Bank of America Arizona.  Mr. Boulware is also a director of
Norwood Promotional Products, Inc. of Indianapolis, Indiana.

GAINSCO, INC. is a Dallas, Texas-based holding company.  The Company's
nonstandard personal automobile insurance products are distributed through
retail agents in Florida, Texas, Arizona, Nevada and California.  Its primary
insurance subsidiaries are General Agents Insurance Company of America, Inc.
and MGA Insurance Company, Inc., both of which are currently rated "B-" (Fair),
with a stable outlook, by A.M. Best. 

DATASOURCE: GAINSCO, INC.



CONTACT:  Scott A. Marek, Asst. Vice President - Investor Relations,

[phone], or Richard M. Buxton, Senior Vice President, [phone],

or  , both of GAINSCO, INC.



Web site:  http://www.gainsco.com/ 

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