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INTEGRA TO REDEEM OUTSTANDING SERIES PREFERRED STOCK

 PITTSBURGH, March 1 /PRNewswire/ -- Integra Financial Corporation (NYSE: ITG) announced today that it is redeeming all outstanding shares of Series $2.31 Cumulative Convertible Preferred Stock.
 The date of redemption has been set for April 1, 1993, and the redemption price is $25.00 per share, plus accrued dividends through the redemption date. As of March 1, 1993, there were 799,800 shares of Series $2.31 Preferred Stock outstanding.
 The first quarter dividend of $.5775 per share on the Series $2.31 Preferred was previously declared payable on March 31, 1993, to holders of record on March 15, 1993. Holders will receive that dividend regardless of whether they deliver their shares for redemption prior to March 15, 1993.
 Shares of the Series $2.31 Preferred Stock are presently convertible into common stock of Integra at a conversion price of $174.20 per share. The stated value of the Series $2.31 Preferred Stock for the purpose of conversion is $25.00 per share. Integra's common stock closed at $45.75 per share on Feb. 26, 1993.
 The agent for redemption and conversion of the Series $2.31 Preferred Stock is Integra Trust Company, at: c/o Securities Transfer Services, 120 Broadway -- 33rd Floor, New York, N.Y., or Third Floor, Commonwealth Annex Building, 300 Fourth Ave., Pittsburgh, Pa. 15278-2331.
 Integra will provide all holders of Series $2.31 Preferred Stock with instructions for delivering the shares to Integra for redemption and payment of the redemption price.
 The Series $2.31 Preferred Stock is listed on the New York Stock Exchange.
 Integra also announced today that it will redeem all outstanding shares of Series A Cumulative Convertible Preferred Stock on April 1, 1993, at a redemption price of $100.47 per share plus accrued dividends through the date of redemption. As of March 1, 1993, there were 2,142 shares of Series A Preferred Stock outstanding. Integra will provide all holders of Series A Preferred Stock with instructions for delivering the shares to Integra for redemption and payment of the redemption price.
 William F. Roemer, chairman of the board and chief executive officer of Integra, stated in connection with the redemption of the Series $2.31 and Series A Preferred Stock that, "Integra inherited the Integra Series Preferred Stock in the acquisition of Equimark, and the board believed that in today's market, the cost of the capital represented by the Series $2.31 and Series A and the administrative costs of dealing with the small number of shares of the Series $2.31 and Series A Preferred Stock were too high to justify keeping them outstanding."
 Integra Financial Corporation is the third largest bank holding company in western Pennsylvania with assets of $13.5 billion. Integra operates four banks, Integra Bank/North, Integra Bank/South, Integra Bank/Pittsburgh and Equibank, with more than 250 offices throughout 22 counties in western Pennsylvania.
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 -0- 3/1/93
 /CONTACT: William S. Eiler, public relations manager of Integra Financial Corporation, 412-644-8073, or at home, 412-921-7620/
 (ITG)


CO: Integra Financial Corporation ST: Pennsylvania IN: FIN SU:

CD-MP -- PG006 -- 1256 03/01/93 09:22 EST
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Publication:PR Newswire
Date:Mar 1, 1993
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