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ADRIAN J. WATERS NAMED MANAGING DIRECTOR OF CONCORD MANAGEMENT (IRELAND) LTD., ADMINISTRATOR OF OFFSHORE FUNDS

 NEW YORK, July 7 /PRNewswire/ -- The appointment of Adrian J. Waters as managing director of Concord Management (Ireland) Ltd., a subsidiary of New York-based Concord Holding Corporation, was announced by Richard E. Stierwalt, chief executive officer of Concord Holding.
 Concord Management (Ireland) was established in Dublin in October 1992 to administer offshore mutual funds. Concord is the largest administrator and distributor of proprietary bank mutual funds in the United States with more than $30 billion in mutual fund assets under administration (as of June 28, 1993).
 "Concord is committed to offshore mutual funds and Dublin is a strategic center for that business," said Mr. Stierwalt. "Adrian Waters, who has worked in both the United States and Ireland, will direct our Dublin office and report to Peter Marshall, vice president, Offshore Funds. These offshore investment specialists will enable Concord to provide offshore clients a service level consistent with the best U.S. practices."
 Mr. Waters comes to Concord from Price Waterhouse in New York, where he was a manager in the accounting firm's Investment Company Industry Services Group.
 In that position he supervised in the provision of audit and advisory services to investment companies, bank common trusts and bank trust and fiduciary departments. He was also actively involved in the establishment of offshore investment companies.
 Before joining Price Waterhouse in 1989 he worked at Oliver Freaney & Co./Spicer and Oppenheim, Chartered Accountants, in Dublin for four years.
 Mr. Waters, a native of Ireland, received his Bachelor of Commerce degree from University College, Dublin. He is a member of the Institute of Chartered Accountants in Ireland.
 -0- 7/7/93
 /CONTACT: Laura Berger or Stan Appenzeller of Arlen Financial Communications, 212-966-5100, for Concord Holding Corporation/


CO: Concord Management (Ireland) Ltd.; Concord Holding Corporation ST: New York IN: FIN SU: PER

SH-OS -- NY014 -- 8977 07/07/93 09:51 EDT
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Date:Jul 7, 1993
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