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NATWEST BUILDS TRADING OPERATION IN JERSEY CITY, INVESTS $10 MILLION IN NEW FACILITY

 JERSEY CITY, N.J., March 5 /PRNewswire/ -- National Westminster Bancorp (NYSE: NW) announced today the opening of a state-of-the-art trading floor at its Exchange Place headquarters in Jersey City. The $10 million facility is triple the size of NatWest's former trading room in Manhattan and is the largest of its kind in New Jersey.
 "Our Financial Markets Group is increasingly key to our success as a relationship bank," said NatWest Bancorp Chairman and Chief Executive John Tugwell. "This investment will better position us for the future."
 NatWest's new trading operation houses 180 employees and includes computer workstations for 122 traders and salespeople. The bank's former operation was located at its Water Street headquarters in New York.
 "The demand for our services has grown to the point where we had to expand, and our offices in New Jersey provided us with ample space to do so," said Hugh Chairnoff, treasurer of NatWest Bancorp and executive in charge of the organization's Financial Markets Group.
 NatWest's Financial Markets Group assists businesses, institutions and individuals in investing in government and agency securities. CMOs and other mortgage-backed securities, municipal bonds, and money market instruments. Its foreign exchange sales and trading desk covers more than 25 currencies and helps customers manage their foreign exchange exposure. Additionally, the asset/liability management area provides corporate financial officers and treasurers with such products as interest rate swaps and options, private placements, and other interest rate management tools.
 "As a relationship bank serving small to mid-size businesses, we handle transactions of just about any size that our customers require," said Chairnoff, who joined NatWest in 1981. "In fact, our success in assisting our business customers is the reason we expanded. We see continued opportunity here."
 According to Chairnoff, one reason for the relocation to Jersey City was that "it gave us an opportunity to consolidate into one location." Larger floor space in Jersey City enabled NatWest to merge its brokerage unit, NatWest Investor Services, into the trading floor. This unit, which assists individuals and businesses in investing in equities and mutual funds, had moved from New York to Exchange Place in 1990 and has since expanded to additional offices in Bridgewater, South Belmar, and most recently, to Jericho, Long Island.
 "This move will allow us to double our business over the next five years, as we did during the past five years," said Chairnoff, who sees tremendous potential for new business in New Jersey, "where we are really looking forward to showing what we can do."
 The new trading facility required more than 80 miles of cable lines that allow access to up-to-the-second market information, improved customer response time and better pricing capabilities. According to Chairnoff, about 65 percent of the project's total cost was for communication and information systems that help traders and salespeople execute transactions accurately, quickly, and very competitively for customers.
 "In this business, technology is vital," he said. "And we have equipped our traders and salespeople with the most advanced technology in the market today."
 Reuters America Inc., one of the financial industry's leading providers of news, real-time data and trading room software applications, installed the trading room's information management system. "NatWest's trading floor is one of the largest installations of our newest and most sophisticated data distribution and trader display software," said Reuters America Senior Vice President Michael Mazzola.
 NatWest, which acquired First Jersey National Corporation in 1988 and a year later purchased First National Bank of Central Jersey, has 135 branch offices in New Jersey and has corporate lending offices in Cherry Hill, Newark, Bridgewater, Jersey City and Teaneck.
 National Westminster Bancorp has $22 billion in assets and operates 265 branch offices in New York and New Jersey. It is a wholly owned subsidiary of National Westminster Bank Plc, the London-based international banking and financial services organization.
 -0- 3/5/93
 /CONTACT: Tim Connolly of National Westminster Bancorp Inc., 201-547-7533/
 (NW)


CO: National Westminster Bancorp ST: New Jersey IN: FIN SU:

TS-OS -- NY025 -- 3453 03/05/93 12:49 EST
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Date:Mar 5, 1993
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