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INTEGRA SIGNS LONG-TERM CONTRACT WITH ALLEGHENY CENTER MALL; OPERATIONS AND MORTGAGE COMPANY TO BEGIN RELOCATING IN DECEMBER

 INTEGRA SIGNS LONG-TERM CONTRACT WITH ALLEGHENY CENTER MALL;
 OPERATIONS AND MORTGAGE COMPANY TO BEGIN RELOCATING IN DECEMBER
 PITTSBURGH, Aug. 21 /PRNewswire/ -- Integra Financial Corporation (NASDAQ: ITGR) Chairman and Chief Executive Officer William F. Roemer and Allegheny Center Associates President David M. Knight, today announced the signing of a letter of intent to execute a 15-year lease with Allegheny Center Associates that will allow Integra to relocate its operations department and new mortgage company to the former Sears store in the Allegheny Center Mall.
 Integra officials estimate this move will include a $5 million capital investment in renovations and improvements to the leased area.
 "This action underscores our long-term commitment to the City of Pittsburgh," explained Roemer. He added, "As I emphasized when we selected Pittsburgh as our corporate headquarters in 1989, we believe in the city as a location where companies can grow and flourish. The addition of about 500 employees to the North Side will have a major economic impact on this traditional and vibrant city neighborhood."
 Pittsburgh Mayor Sophie Masloff said, "Integra is a leader in investing in every Pittsburgh neighborhood. Through Integra loans, jobs have been created, homes purchased and houses repaired -- not just in a few neighborhoods but in every neighborhood. This is the power of investment. Today, Integra is making an investment in people. By relocating up to 500 of their employees to Allegheny Center Mall, they are making an investment in the North Side. These employees will be able to do more than just work in this building. They will support the restaurants and shops in the mall and the North Side. They will become one more link connecting the Golden Triangle with the Allegheny Center Mall, Allegheny General Hospital and the entire North Side community."
 The relocation of approximately 300 employees from Integra's operations department at 4th Avenue and Wood Street to the former Sears store in Allegheny Center Mall will begin in late 1992 and continue until mid-1993. In addition, approximately 150-200 employees that comprise the new Integra Mortgage Company will also relocate to this area. This staff will come from the existing mortgage operations at Integra, Landmark and Equimark.
 After a comprehensive evaluation of Integra Financial Corporation's Pittsburgh facilities, management concluded that the existing space currently occupied by various operations department personnel could not support efficient operations or growth. The inability to design workflow in an optimal fashion because of small floor spaces, lack of adequate freight/loading dock capacities and the separation of interactive functions on different floors all contributed to the decision to relocate operations-related activities.
 The former Sears space to be leased by Integra includes three floors and approximately 200,000 square feet. The spacious area provides an efficiency of operations, private freight elevators and loading docks, and a location for Integra's courier/delivery services. Integra will also have the opportunity to lease additional space in the former Sears store if expansion is necessary.
 Integra employees will benefit from the convenient location of the Allegheny Center Mall and enjoy ample parking, an on-site day care center and exercise facility and access to major public transportation with more than 1,100 buses stopping daily at Allegheny Center.
 Negotiations for the new lease were conducted for Integra by David Lancia, director of Real Estate Advisory Services, Coopers and Lybrand.
 Integra Financial Corporation, with assets of $10.5 billion, is the third largest bank holding company in western Pennsylvania. Its affiliates include Integra Bank/South, Uniontown; Integra Bank/Pittsburgh; Integra Bank/North, Titusville; Landmark Savings Association, Pittsburgh; and Integra Trust Company, Pittsburgh. Integra recently signed a definitive agreement to acquire Equimark Corporation (NYSE: EQK). Regulatory approvals are expected by early 1993. Integra banks currently operate more than 200 offices throughout 22 counties in western Pennsylvania.
 -0- 8/21/92
 /CONTACT: William S. Eiler of Integra, 412-644-8073, or David M. Knight, president of Allegheny Center Associates, 412-231-6688/
 (ITGR EQK) CO: Integra Financial Corporation; Allegheny Center Associates ST: Pennsylvania IN: FIN SU: RLE


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Publication:PR Newswire
Date:Aug 21, 1992
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