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SHAWMUT NATIONAL WILL ADDRESS FED CRITICISMS AND PURSUE NEW DARTMOUTH ACQUISITION

 HARTFORD, Conn., and BOSTON, Nov. 19 /PRNewswire/ -- Shawmut National Corporation (NYSE: SNC) today issued the following statement regarding the Federal Reserve Board's recent tie-vote on its application to acquire New Dartmouth Bank of Manchester, N.H.:
 "We have received the statements of the Governors of the Federal Reserve and are pleased that all six Governors recognize the positive steps that Shawmut has taken in lending to minorities. We believe Shawmut has the best record in minority lending of any bank in New England. We are confident that our momentum and improvements in compliance will continue.
 "We intend to address and to resolve all of the criticisms contained in the statement by the three Governors who voted not to approve the application.
 "As a result, it is our intention to move forward on our plans to acquire New Dartmouth. We are working closely with the Federal Reserve on the issues raised."
 Shawmut National is a $27 billion banking company serving the financial services needs of consumers, businesses, governments, and institutions through a network of nearly 300 branches in Massachusetts, Connecticut, and Rhode Island. The Corporation has dual headquarters in Boston and Hartford.
 -0- 11/19/93
 /CONTACT: Robert L. Guenther (media), 203-240-1267, or Thomas R. Rice (investor), 203-728-4872, both of Shawmut National Corp./
 (SNC)


CO: Shawmut National Corporation ST: Connecticut, Massachusetts, Rhode Island IN: FIN SU:

JL -- NE005 -- 6571 11/19/93 13:30 EST
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Publication:PR Newswire
Date:Nov 19, 1993
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