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GREAT LAKES BANCORP TO PAY FIRST-QUARTER STOCK DIVIDENDS

 GREAT LAKES BANCORP TO PAY FIRST-QUARTER STOCK DIVIDENDS
 ANN ARBOR, Mich., March 26 /PRNewswire/ -- Great Lakes Bancorp


announced that it will pay common stock dividends to holders of both its common and preferred stock.
 Holders of Great Lakes' common stock (NASDAQ-NMS: GLBC) will receive one share of common stock for every 50 shares owned.
 Holders of Great Lakes' preferred stock (NASDAQ-NMS: GLBCP) will receive one share of Great Lakes' common stock for every 55 shares of preferred stock owned.
 Both dividends will be paid April 15 to recordholders as of April 1, 1992. Cash will be paid in lieu of fractional shares.
 With $2.9 billion in assets and $1.9 billion in deposits, Great Lakes Bancorp is Michigan's second-largest savings bank. Great Lakes has branches throughout Michigan, with primary concentrations in the Ann Arbor, Battle Creek and Saginaw areas. In addition, a division of Great Lakes, Dollar Federal Savings Bank, has a significant presence in Hamilton, Ohio.
 -0- 3/26/92
 /NOTE: The following table sets forth information regarding the directors of the bank and certain other persons who may be deemed to be "participants" in the solicitation of proxies by the bank under federal securities laws.
 Shares Beneficially Owned(1)
 Name and Principal Common Preferred
 Business Address Occupation Stock Stock
 Robert J. Delonis President and chief 44,828(2) 500
 Great Lakes Bancorp operating officer of
 401 E. Liberty St. the bank(3)
 Ann Arbor, MI 48104
 Donald J. DeNooyer Retired; former owner, 1,079 ---
 Great Lakes Bancorp president and general
 401 E. Liberty St. manager, DeNooyer
 Ann Arbor, MI 48104 Chevrolet, Battle
 Creek, Mich.
 Richard A. Hadler Retired; former sales 55,452(4) 11,000
 Great Lakes Bancorp executive, Hoover
 401 E. Liberty St. Universal, Inc., a
 Ann Arbor, MI 48104 diversified manufacturing
 firm, Ann Arbor, Mich.
 Albert Sargent Harvey Retired; former owner, 9,492 ---
 Great Lakes Bancorp president and general
 401 E. Liberty St. manager, Sarge Harvey Ford
 Ann Arbor, MI 48104 Inc., Saginaw, Mich.
 Bruce A. Hubbard Secretary of the bank 9,277(5) ---
 Great Lakes Bancorp
 401 E. Liberty St.
 Ann Arbor, MI 48104
 William W. Kessel Account executive with 20,200 ---
 Roney & Company Roney & Company, an
 5800 Gratiot investment banking firm
 Suite 106
 Saginaw, MI 48603
 John R. Laird Partner, Laird, Chin & 21,736 ---
 Laird & Chin Schwartz, a law firm,
 401 E. Liberty St. Ann Arbor, Mich.
 No. 421
 Ann Arbor, MI 48104
 Theodore R. Meadows Physician and director, 1,560 ---
 Catherine McAuley Department of Pathology,
 Health Center Catherine McAuley Health
 5301 E. Huron River Center
 Drive
 Ann Arbor, MI 48106
 Francis R. Mercer Retired; former senior 10,672 ---
 Great Lakes Bancorp vice president and
 401. E. Liberty St. regional manager of
 Ann Arbor, MI 48104 the bank
 George J. Nichols Jr. Retired; former chairman, 11,281 ---
 Great Lakes Bancorp president and chief
 401 E. Liberty St. executive officer, Arbor
 Ann Arbor, MI 48104 Plastics Products, Inc.
 James Patterson Vice president of the 2,426(6) ---
 Great Lakes Bancorp bank
 401. E. Liberty St.
 Ann Arbor, MI 48104
 Mark K. Rosenfeld President, chief 2,041 ---
 Jacobson Stores, Inc. operating officer and
 3333 Sargent Road director of Jacobson
 Jackson, MI 49201 Stores, Inc., a retail
 department store,
 Jackson, Mich.
 James E. Stephenson Partner, Harness, Dickey 26,418 ---
 Harness, Dickey & & Pierce, a law firm,
 Pierce Ann Arbor, Mich.
 401 E. Liberty St.
 Suite 555
 Ann Arbor, MI 48104
 Roy E. Weber Chairman of the board 158,910(7) 2,500
 Great Lakes Bancorp and chief executive
 401 E. Liberty St. officer of the bank(3)
 Ann Arbor, MI 48104
 Lloyd J. Yeo Principal, Yeo & Yeo, 8,658 ---
 Yeo & Yeo certified public
 3023 Davenport accountants, Saginaw,
 Saginaw, MI 48602 Mich.
 (1) -- Includes all shares beneficially owned directly or indirectly.
 (2) -- Includes 33,871 shares that Mr. Delonis can acquire within the next 60 days pursuant to the exercise of stock options. Does not include 12,749 shares underlying options that are not exercisable within the next 60 days.
 (3) -- Mr. Delonis is expected to succeed Mr. Weber as chief executive officer of the bank as of March 31, 1992.
 (4) -- Includes 4,325 shares that Mr. Hadler can acquire within the next 60 days pursuant to the exercise of 16,020 warrants.
 (5) -- Includes 5,408 shares that Mr. Hubbard can acquire within the next 60 days pursuant to the exercise of stock options. Does not include 1,020 shares underlying options that are not exercisable within the next 60 days.
 (6) -- Includes 1,080 shares that Mr. Patterson can acquire within the next 60 days pursuant to the exercise of stock options.
 (7) -- Includes 106,067 shares that Mr. Weber can acquire within the next 60 days pursuant to the exercise of stock options. Does not include 12,750 shares underlying options that are not exercisable within the next 60 days. Includes 3,510 shares that Mr. Weber can acquire within the next 60 days pursuant to the exercise of 13,000 warrants.
 CONTACT: James S. Patterson, vice president, corporate communications, Great Lakes Bancorp, 313-769-8300, Ext. 4116/
 (GLBC) CO: Great Lakes Bancorp ST: Michigan IN: FIN SU: DIV


JG-SM -- DE014 -- 1918 03/26/92 11:26 EST
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Date:Mar 26, 1992
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