X0303 4 2009-01-15 0 0000832480 UTG INC UTGN.OB 0001064892 CORRELL JESSE T FIRST SOUTHERN BANCORP P. O. BOX 328 STANFORD KY 40484 1 1 1 0 Chairman & CEO Common Stock 2009-01-15 4 P 0 6544 11.50 A 341997 I See Footnote Common Stock 72750 I See Footnote Common Stock 249069 I See Footnote Common Stock 0 I See Footnote Common Stock 1357716 I See Footnote Common Stock 118308 D The reported securities are held by First Southern Funding, LLC, ("FSF") of which the reporting person is President and manager. The reported securities are held by WCorrell, Limited Partnership of which the reporting person is a managing general partner. The reported securities are held by First Southern Bancorp, Inc., of which the reporting person is Chairman and President. Excludes 5,604 shares of Common Stock previously owned by First Southern Capital Corp., LLC. On December 31, 2008, First Southern Capital Corp., LLC was dissolved. On January 6, 2009, the shares of Common Stock owned by FSC were distributed to its members in liquidation of their membership interests. The shares were valued at $11.50 for the purpose of determining the total value of the company and the resulting allocation of the number of shares distributable to each member in accordance with their respective Sharing Ratios. As a result of such dissolution, the reporting person was allocated 5,604 shares of Common Stock, and those shares are reported in the direct holdings of the reporting person. The reported securities are held by First Southern Holdings, LLC, of which the reporting person is the President. /s/ Jesse T. Correll 2009-01-16