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METROPOLITAN FEDERAL ANNOUNCES INTENT TO FORM HOLDING COMPANY

 SEATTLE, April 28 /PRNewswire/ -- Metropolitan Federal Savings and Loan Association of Seattle (NASDAQ: MSEA) announced today that its board of directors has approved the formation of a savings and loan holding company. Metropolitan will ask its stockholders to approve the new holding company at the annual meeting to be held July 21.
 Patrick F. Patrick, Metropolitan Federal's president and chief executive officer, said, "The formation of a holding company provides Metropolitan with additional flexibility to meet the mission of providing safe financial investments for our customers as well as additional borrowing opportunities."
 As part of the formation of the holding company, Metropolitan intends to review a variety of financing alternatives that would provide additional capital to the association.
 Metropolitan Federal is an FDIC-insured, federally chartered savings and loan association organized in 1935 with seven branches in the greater Puget Sound area.
 -0- 4/28/93
 /CONTACT: Suzanne Tessaro of Metropolitan Federal, 206-654-7826/
 (MSEA)


CO: Metropolitan Federal Savings and Loan Association of Seattle ST: Washington IN: FIN SU:

LM-SW -- SE012 -- 2368 04/28/93 19:18 EDT
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Publication:PR Newswire
Date:Apr 28, 1993
Words:176
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