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ROOSEVELT SAVINGS BANK COMPLETES CONVERSION TO STOCK SAVINGS BANK

 GARDEN CITY, N.Y., June 29 /PRNewswire/ -- T R Financial Corp., the holding company for Roosevelt Savings Bank announced today the completion of its offering of common stock in connection with the bank's conversion from a New York-chartered mutual savings bank to a New York- chartered stock savings bank.
 Through a subscription offering to employee plans and eligible account holders of the bank, T R Financial Corp. sold 10,925,000 shares at $9.00 per share. An additional 437,000 registered shares were issued by the company to the bank's recognition and retention plans. The result of the stock conversion was to increase the consolidated capital of the holding company to approximately $183 million, giving it a capital to asset ratio of 9.8 percent.
 Roosevelt Savings Bank's Plan of Conversion was approved by its depositors at a special meeting of the bank's depositors held on June 16, 1993. T R Financial Corp. common stock will be traded on the NASDAQ National Market under the symbol "ROSE."
 Adams Cohen Securities Inc. of Great Neck, N.Y. managed the Subscription Offering, and its affiliate company, Adams Cohen & Associates, provided conversion agent and proxy solicitation services.
 -0- 6/29/93
 /CONTACT: Mr. Ayvas, investor relations manager of Roosevelt Savings Bank, 516-742-9300, Ext. 219/
 (ROSE)


CO: Roosevelt Savings Bank; T R Financial Corp. ST: New York IN: FIN SU:

LR-OS -- NY053 -- 6717 06/29/93 12:48 EDT
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Publication:PR Newswire
Date:Jun 29, 1993
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