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LAUREL SAVINGS ASSOCIATION ANNOUNCES RESULTS OF ANNUAL MEETING

 ALLISON PARK, Pa., Nov. 16 ~PRNewswire~ -- Laurel Savings Association (NASDAQ: LARL) announced today that all proposals recommended at the association's 1992 annual stockholders meeting held on Thursday, Nov. 12, 1992, received the approval of the association's stockholders.
 Specifically, the association's stockholders elected Arthur G. Borland, Richard J. Cessar, Arnold J. Sisca and Annette D. Ganassi as directors of the association, and ratified KPMG Peat Marwick as the association's independent auditors for fiscal 1993. The stockholders also approved the proposal to form a holding company to be known as Laurel Capital Group, Inc. The holding company reorganization is subject to the receipt of all regulatory approvals.
 Edwin R. Maus, president and chief executive officer, stated "The association is pleased with the positive response of its stockholders, particularly with respect to the approval of the holding company reorganization. The holding company structure will provide greater operating flexibility and the ability to expand, although the association does not presently have any plans to do so."
 Laurel Savings Association is a 106-year-old, Pennsylvania-chartered, SAIF-insured savings association conducting business through six offices in Allegheny and Butler counties.
 -0- 11~16~92
 ~CONTACT: Edwin R. Maus, president and chief executive officer of Laurel Savings, 412-487-7400~
 (LARL)


CO: Laurel Savings Association; Laurel Capital Group, Inc. ST: Pennsylvania IN: FIN SU: PER

CD-LJ -- PG010 -- 1247 11~16~92 11:46 EST
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Publication:PR Newswire
Date:Nov 16, 1992
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