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GERRITY ANNOUNCES ADDITION TO ITS BOARD OF DIRECTORS

 DENVER, Sept. 10 /PRNewswire/ -- Gerrity Oil & Gas Corp. (NASDAQ: GOIL) announced today that it elected Les J. Lieberman to its board of directors. Lieberman is executive managing director and chief executive officer of Indosuez Capital, the merchant and investment banking division of Banque Indosuez. Prior to forming Indosuez Capital in April 1992, Lieberman served as managing director in the investment banking group of Kidder Peabody & Co. Gerrity has a $100 million Senior Credit Facility through a group of lenders, including Banque Indosuez who acts as Agent. Lieberman will serve on the company's audit committee.
 Robert W. Gerrity, chairman and chief executive officer, said of Lieberman's election, "Les has extensive experience as a senior advisor to major U.S. corporations in mergers and acquisitions and capital markets transactions. His expertise in these areas add considerable strength to our board and our management."
 The company also announced, effective immediately, that Frank D. Bracken has resigned his positions as director and officer to pursue other business interests.
 Denver-based Gerrity Oil & Gas drills and produces low-risk development wells in the Denver-Julesburg Basin in Colorado and Wyoming.
 -0- 9/10/93
 /CONTACT: Robert W. Gerrity, chairman, or Greg Barnett, Manager, Investor Relations, of Gerrity Oil & Gas, 303-757-1110/
 (GOIL)


CO: Gerrity Oil & Gas Corp. ST: Colorado IN: OIL SU: PER

BB -- DV001 -- 0624 09/10/93 08:58 EDT
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Publication:PR Newswire
Date:Sep 10, 1993
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