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DUE DILIGENCE COMPLETED; INTEGRA AND EQUIMARK ANNOUNCE SPECIAL MEETINGS

DUE DILIGENCE COMPLETED; INTEGRA AND EQUIMARK ANNOUNCE SPECIAL MEETINGS
 PITTSBURGH, Sept. 9 /PRNewswire/ -- Integra Financial Corporation (NASDAQ: ITGR) and Equimark Corporation (NYSE: EQK) announced today that their boards of directors have reviewed the results of their respective company's due diligence investigations and that the previously announced merger of the corporations would proceed as planned.
 Special shareholders' meetings are scheduled for Nov. 23, 1992, in the Wintergarden Plaza, One PPG Place, Pittsburgh -- at 9:30 a.m. for Integra shareholders and at 1:30 p.m. for Equimark shareholders. These meetings are for shareholders of record as of Sept. 24, 1992, to consider and vote on the merger of Equimark Corporation into Integra Financial Corporation.
 The transaction is subject to a number of other conditions, including the receipt of regulatory approvals, and is expected to close in late 1992 or early 1993.
 William F. Roemer, chairman and chief executive officer of Integra Financial Corporation, said, "With the completion of due diligence, the approval process is proceeding swiftly. The proxy material is being developed and the applications for the merger have been filed. Our two corporations are doing everything in their power to keep the process moving. We're pleased that a successful consolidation at year-end remains a viable possiblility."
 After the merger is approved, each share of Equimark common stock will be converted into .20 shares of Integra common stock.
 Each share of Equimark's preferred stock outstanding at the time of the merger will be converted into one identical share of Integra preferred stock.
 Integra is the third largest bank holding company in western Pennsylvania. It was formed in 1989 by the merger of Pennbancorp and Union National Corporation, has assets of $10.5 billion and operates three banks with 233 offices throughout 22 counties.
 Equimark is a Pittsburgh-based bank holding company with $2.9 billion in assets. Equimark's banking subsidiary is Equibank, which operates 53 offices in the greater Pittsburgh area.
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 -0- 9/9/92 R
 /CONTACT: William S. Eiler, public relations manager of Integra, 412-644-8073, or at home, 412-921-7620; or Joyce L. Stump, assistant vice president, corporate affairs, of Equimark, 412-288-5932, or at home, 412-257-8410/
 (ITGR EQK) CO: Integra Financial Corporation; Equimark Corporation ST: Pennsylvania IN: FIN SU: TNM


CD-ML -- PG010 -- 7610 09/09/92 15:09 EDT
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Publication:PR Newswire
Date:Sep 9, 1992
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