Golden State Bancorp to Redeem Series A Preferred Stock.
Each share of the Series A preferred stock is convertible into 2.404 shares of Golden State Bancorp common stock and 2.404 Litigation Tracking Warrants(tm) (NASDAQ:GSBNZ) at any time prior to the close of business on September 28, 1998.
Holders of the Noncumulative Convertible Preferred Stock, Series A will receive written redemption instructions from Golden State's information agent, ChaseMellon Shareholder Services.
For information regarding either conversion or redemption of the Series A preferred stock, holders should call 1-800-774-5469. For bank and broker inquiries, please call 1-212-273-8080.
Golden State Bancorp, with $19 billion in assets, is the parent company of Glendale Federal Bank -- California's leading community bank, serving the business and consumer banking needs of Californians through 209 banking offices and 25 loan offices. Customers can reach the bank by calling 1-800-41FEDUP, or get information through its Internet site at http://www.glendalefederal.com
CONTACT: Glendale Federal Bank, Glendale
Ken Preston, 818/409-4550
Jeff Misakian, 818/500-2824
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|Date:||Aug 19, 1998|
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