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/ C O R R E C T I O N -- OLD KENT FINANCIAL CORPORATION /

 / C O R R E C T I O N -- OLD KENT FINANCIAL CORPORATION /
 In NY066, Old Kent Adopt Stock Repurchase Program, moved Monday, Jan. 20, we are advised by Old Kent that in the third paragraph, several words in the second and third sentences were inadvertently deleted.
 The following is a complete, corrected version of the release:
 OLD KENT ADOPTS STOCK REPURCHASE PROGRAM
 GRAND RAPIDS, Mich., Jan. 20 /PRNewswire/ -- Old Kent Financial Corporation (NASDAQ: OKEN) today announced the adoption of a stock repurchase program.
 Old Kent has authorized the purchase of shares of its common stock in an aggregate amount not greater than $75 million. Purchases, which may commence immediately, may be in the open market or in privately negotiated transactions. Timing, price, quantity and manner of purchases will be at the discretion of the corporation's officers. The program may be discontinued or suspended at any time, and there is no assurance that the corporation will purchase the full amount authorized.
 The purpose of the newly announced stock repurchase program is to meet anticipated future needs for shares of the corporation's common stock. These needs include issuance of the common stock in connection with the corporation's dividend reinvestment plan, stock option plan, restricted stock plan, deferred compensation stock plan and the exercise of conversion rights by holders of convertible securities. The corporation desires to avoid the dilution of shareholders' equity and earnings per share caused by such new issues.
 Old Kent Financial Corporation is a bank holding company headquartered in Grand Rapids with affiliate banks and branch offices throughout Michigan and Illinois. Old Kent reported total assets of $8.8 billion on Dec. 31, 1991.
 -0- 1/21/92
 /CONTACT: Richard W. Wroten, CFO of Old Kent, 616-771-5808/
 (OKEN) CO: Old Kent Financial Corporation ST: Michigan IN: FIN SU:


JG -- DE011 -- 1854 01/21/92 12:41 EST
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Publication:PR Newswire
Date:Jan 21, 1992
Words:309
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