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PACIFIC FIRST BANK TO SWAP BRANCHES WITH GREAT WESTERN

 PACIFIC FIRST BANK TO SWAP BRANCHES WITH GREAT WESTERN
 SEATTLE, Nov. 12 /PRNewswire/ -- Pacific First Bank, FSB announced today that it has entered into an agreement to exchange seven Pacific First branches located in Southern California for thirteen branches owned by Great Western Bank (NYSE: GWF) that are located in Washington.
 "I am very pleased with this positive move for both companies," said John Dean, chief executive officer of Pacific First. "Great Western will acquire our branches in California, where we have not had the opportunity to add to our branch network in a manner which would allow us to compete effectively in that market. Pacific First, in turn, will complement its existing retail franchise in the Puget Sound region."
 Great Western's branches in Washington currently have approximately $363 million in deposits, and Pacific First now has deposits of around $426 million in California. The transaction is subject to regulatory approval, among other conditions.
 Royal Trustco Ltd. (Toronto: RYL), Pacific First's parent corporation, has entered into an agreement with Washington Mutual Savings Bank (NASDAQ: WAMU) for the sale of Pacific First. Pacific First Bank, with assets of $6.5 billion at Sept. 30, 1992, currently operates 134 retail and mortgage banking offices throughout Washington, Oregon and California.
 Royal Trust is Canada's leading trust company providing a wide range of personal and corporate financial services through 144 branches across Canada and 17 offices in key financial centers of the United Kingdom, Europe, the Caribbean and Asia.
 -0- 11/12/92
 /CONTACT: Marlane Wolf, Marketing, Communications, Human Resources of Pacific First Bank, FSB, 206-224-3384/
 (GWF RYL. WAMU) CO: Pacific First Bank, FSB; Great Western Bank; Washington Mutual
 Savings Bank; Royal Trustco Ltd. ST: Washington, California IN: FIN SU: TNM


JH-SW -- SE006 -- 0193 11/12/92 12:47 EST
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Date:Nov 12, 1992
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