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CSF HOLDINGS TO REDEEM $13.8 MILLION OF SUBORDINATED DEBT

 CSF HOLDINGS TO REDEEM $13.8 MILLION OF SUBORDINATED DEBT
 MIAMI, Aug. 31 /PRNewswire/ -- CSF Holdings, Inc., (NASDAQ-NMS: CSFCB) is redeeming $13.8 million of its subordinated notes which were issued in 1988. The redemption date is Sept. 30, 1992.
 The early redemption covers $4.7 million of 11 1/4 percent notes due in 2000 and $9.1 million of 11 3/4 percent notes due in 2003. Both series of notes have been callable at par anytime after Jan. 1, 1992.
 Charles B. Stuzin, chairman and president of CSF Holdings, stated, "The current low interest rate environment makes it prudent to lower our cost of capital. The company will achieve significant savings in its interest costs beginning with the fourth quarter."
 CSF Holdings is the parent company of Citizens Federal Bank, a $4.4 billion federal savings bank which operates in Florida, Illinois, Ohio, California and Virginia.
 Last month, CSF Holdings reported record net earnings, after preferred stock dividends, of $29.1 million, or $6.90 per share, for the six months ended June 30, 1992, compared to net earnings, after preferred stock dividends, of $3.3 million, or $.85 per share, for the first half of 1991.
 CSF Holdings is a publicly owned financial institution with its common stock (CSFCB) traded on the NASDAQ National Market System.
 -0- 8/31/92
 /CONTACT: Morton Trilling, executive vice president of CSF Holdings, Inc., 305-978-5454; or John K. Schulte of Schulte, Ross & Aguilar, 305-856-1442, for CSF Holdings, Inc./
 (CSFCB) CO: CSF Holdings, Inc. ST: Florida IN: FIN SU:


AW-JB -- FL011 -- 4942 08/31/92 12:02 EDT
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Date:Aug 31, 1992
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