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METROPOLITAN FINANCIAL CORPORATION ANNOUNCES STOCK REPURCHASE

 MINNEAPOLIS, Aug. 10 /PRNewswire/ -- Metropolitan Financial Corporation (NYSE: MFC) announced today that its board of directors has authorized management to purchase up to 5 percent of the company's outstanding stock in the open market and in other transactions through the first quarter of 1994. The stock will be used by the company for employee benefit plans as well as to replenish shares issues in recent acquisition.
 Norman M. Jones, Metropolitan Financial's chairman and chief executive officer, stated, "the recent price of our stock provides a unique opportunity to repurchase outstanding shares at below our book value and thus, represents the best and most prudent use of our capital in this market."
 Metropolitan Financial Corporation is a regional financial services holding company. Its full service consumer savings bank, Metropolitan Federal Bank, fsb, Fargo, N.D., operates more than 190 offices throughout the states of Minnesota, North Dakota, Iowa, Kansas, Nebraska, South Dakota, Wisconsin and Arizona.
 Metropolitan Financial Corporation's common stock trades on the New York Stock Exchange under the symbol MFC. At June 30, 1993, the company had 30,766,821 shares outstanding and book value per common share of $14.96. ?-0-
 8/10/93
 /CONTACT: Bill Bartkowski of Metropolitan Financial Corporation, 612-928-5003/
 (MFC)


CO: Metropolitan Financial Corporation ST: Minnesota IN: FIN SU:

KH -- MN005 -- 1152 08/10/93 11:20 EDT
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Publication:PR Newswire
Date:Aug 10, 1993
Words:222
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