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CITADEL HOLDING CORP. ANNOUNCES EXTENSION OF RIGHTS OFFERING

 GLENDALE, Calif., March 15 /PRNewswire/ -- Citadel Holding Corporation (AMEX: CDL) announced today that the inclement weather in the Eastern United States has led Citadel to declare a 72 hour extension of the expiration date of its rights offering. Under the extension rights to purchase new shares of common stock of Citadel Holding Corporation at a purchase price of $10 per share will expire at 5:00 p.m., Los Angeles time, on Thursday, March 18, 1993.
 By the close of business on March 15, 1993, the Company had received subscription rights exercises with respect to approximately 3,088,686 shares, representing 94 pct. of a total of 3,297,812 possible shares. In view of the trading prices for the rights, the Company extended the deadline to make sure that all subscriptions in transit were received and processed.
 -0- 3/15/93
 /CONTACT: Albert J. Clemens, Senior Vice President and Marketing Director, Fidelity Federal Bank, 818-549-3630/
 (CDL)


CO: Citadel Holding Corp.; Fidelity Federal Bank ST: California IN: FIN SU: OFR

JB -- LA035 -- 6331 03/15/93 21:20 EST
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Publication:PR Newswire
Date:Mar 15, 1993
Words:179
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