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SOUTHERN NATIONAL COMPLETES $70 MILLION PREFERRED STOCK OFFERING

 SOUTHERN NATIONAL COMPLETES $70 MILLION PREFERRED STOCK OFFERING
 LUMBERTON, N.C., Feb. 4 /PRNewswire/ -- Southern National Corporation (NYSE: SNB) announced today that the company has completed a $70 million offering of 2,800,000 Depositary Shares, each representing a one- quarter interest in a share of Cumulative Convertible Preferred Stock. The registration statement for the offering includes an over-allotment option in favor of the underwriters for an additional 280,000 Depositary Shares.
 The issue was sold at $25 per Depositary Share with dividends at the rate of 6.75 percent per annum. Each Depositary Share is convertible into common stock at a price of $16.93 per common share, or 1.4767 common shares per Depositary Share. The Depositary Shares will be traded on the New York Stock Exchange under the symbol SNBPFA.
 The offering was managed by Bear, Stearns & Co. Inc.
 Southern National is a multi-bank holding company based in Lumberton, N.C. with $3.7 billion in assets and 148 banking and thrift offices in North and South Carolina.
 -0- 2/4/92
 /CONTACT: (Analysts) John R. Spruill, Chief Financial Officer, 919-671-2530, or (Media) Bob Denham, Public Relations, 919-671-2427, both of Southern National Corporation/
 (SNB) CO: Southern National Corporation ST: North Carolina IN: FIN SU: OFR


CM -- CH001 -- 6507 02/04/92 08:31 EST
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Publication:PR Newswire
Date:Feb 4, 1992
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