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METROPOLITAN FINANCIAL CORPORATION FILES SUBORDINATED NOTE OFFERING

METROPOLITAN FINANCIAL CORPORATION FILES SUBORDINATED NOTE OFFERING
 MINNEAPOLIS, Sept. 1 /PRNewswire/ -- Metropolitan Financial Corporation (NYSE: MFC) announced today that it has filed a registration statement with the Securities and Exchange Commission for the public sale of a new issue of $60 million aggregate principal amount of its subordinated notes due 1999. Interest on the notes will be payable on the first day of each month, commencing Nov. 1, 1992. The notes will mature on Oct. 1, 1999. The underwriting group for the proposed offering will be led by Dain Bosworth Incorporated, The Chicago Corporation and Piper Jaffray Inc.
 Substantially all of the net proceeds of the offering will be contributed to Metropolitan's Insured savings bank subsidiary, Metropolitan Federal Bank, FSB, in order to facilitate growth in its general banking business, to support future acquisitions and to further strengthen its financial condition, including improving its capital ratios (which currently exceed all the current and fully phased in regulatory capital requirements.)
 Metropolitan Financial Corporation is a regional financial services holding company. Its full service consumer savings bank, Metropolitan Federal Bank, FSB, Fargo, North Dakota, operates over 140 offices in 114 communities in the states of North Dakota, Minnesota, Iowa, South Dakota, Wisconsin, and Arizona.
 Metropolitan is one of the Twin Cities' largest originators of residential mortgage loans. The corporation's real estate sales and brokerage subsidiary, Edina Realty, Inc., has been rated number one nationally in customer satisfaction by a leading consumer magazine and serves Minnesota and western Wisconsin with over 1750 sales associates in 37 locations.
 A copy of the prospectus for the offering of the notes may be obtained from:
 Dain Bosworth Incorporated
 Dain Bosworth Plaza
 60 South Sixth Street
 Minneapolis, Minnesota 55402
 Attn.: Corporate Bond Department
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This notice shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 9/1/92
 /CONTACT: Steven B. Dewald of Metropolitan Financial Corporation, 612-928-5000/
 (MFC) CO: Metropolitan Financial Corp. ST: Minnesota IN: FIN SU: OFR


LD -- MN015 -- 5673 09/01/92 18:56 EDT
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Publication:PR Newswire
Date:Sep 1, 1992
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