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GLENFED RESCHEDULES SPECIAL SHAREHOLDERS' MEETING

 Glendale Federal Bank Extends Expiration Date for
 Debenture Exchange Offer, and Preferred Stock Reclassification
 GLENDALE, Calif., July 30 /PRNewswire/ -- GLENFED Inc. (NYSE: GLN), today announced that its Special Shareholders' Meeting called in connection with the proposed recapitalization of its principal subsidiary, Glendale Federal Bank, originally set for Aug. 3, 1993, has been rescheduled for 10 a.m. Tuesday, Aug. 17, 1993. The rescheduled meeting will be moved to the Universal City Hilton & Towers, 555 Universal Terrace Parkway, Universal City, Calif.
 Concurrently, Glendale Federal Bank announced that it has extended until midnight New York City time on Tuesday, Aug. 17, 1993, the expiration date for both its exchange offer for GLENFED Inc. 7.75 percent Convertible Subordinated Debentures Due 2001 and its consent solicitation for the reclassification of the bank's Series B and Series C Preferred Stock.
 GLENFED and the bank stated that further information regarding these proposed transactions will be furnished to security holders early next week.
 -0- 7/30/93
 /CONTACT: Judy Cunningham, 818-500-2274, or Jeff Misakian, 818-500-2824, both of GLENFED/
 (GLN)


CO: GLENFED Inc.; Glendale Federal Bank ST: California IN: FIN SU:

JB -- LA012 -- 7789 07/30/93 13:18 EDT
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Publication:PR Newswire
Date:Jul 30, 1993
Words:193
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