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AMERIBANC INVESTORS GROUP (AIG) REPORTS EQUITY OFFERING DECLARED EFFECTIVE

 AMERIBANC INVESTORS GROUP (AIG) REPORTS
 EQUITY OFFERING DECLARED EFFECTIVE
 ANNANDALE, Va., Nov. 4 /PRNewswire/ -- Ameribanc Investors Group (NASDAQ-NMS: AINVS) announced that the Securities and Exchange Commission declared effective on Nov. 3, 1992, AIG's registration statement for 25,364,928 new shares of beneficial interest (common stock). The shares will be offered to stockholders of record on Oct. 23, 1992, in the form of subscription rights.
 The Rights Offering gives each eligible stockholder rights to subscribe to four new shares for each share held, at a purchase price of $1.25 per share.
 Stockholders of record may also oversubscribe for additional shares on an as available basis. The basic subscription rights are transferable without the oversubscription privilege. AIG does not anticipate a market to be made in the subscription rights.
 Simultaneously, AIG is offering unsubscribed shares to the general public at $1.25 a share, on a first come, first served basis for such shares that are still available after all subscriptions by stockholders of record are filled. The offer expires on Nov. 30, 1992, unless extended by the company.
 The prospectus for the offering and subscription instructions will be distributed to all shareholders of record, beginning Nov. 4. The subscription agent for the offering is The Riggs National Bank, Washington. The Information Agent is Georgeson & Company, New York.
 Prospectuses for this offering may be obtained by contacting Ameribanc at 703-658-2720 or any of the above agents.
 AIG is the holding company for Ameribanc Savings Bank, FSB, a $1.15 billion bank headquartered in Annandale, operating 29 branch offices in Northern Virginia, Hampton Roads and Charlottesville, Va.
 -0- 11/4/92
 /CONTACT: John J. Houseman, president, Ameribanc Investors Group, 703-658-2721; or David W. Campbell, president, Ameribanc Savings Bank, 703-658-1002/
 (AINVS) CO: Ameribanc Investors Group ST: Virginia IN: FIN SU: OFR


MH -- DC005 -- 2396 11/04/92 10:39 EST
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Publication:PR Newswire
Date:Nov 4, 1992
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