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AMERIBANC INVESTORS GROUP REPORTS AMENDMENT TO REGISTRATION STATEMENT AND EXTENSION OF CAPITAL COMPLIANCE DATE

 AMERIBANC INVESTORS GROUP REPORTS AMENDMENT TO REGISTRATION
 STATEMENT AND EXTENSION OF CAPITAL COMPLIANCE DATE
 ANNANDALE, Va., Sept. 28 /PRNewswire/ -- Ameribanc Investors Group ("AIG") (NASDAQ-NMS: AINVS) announced it filed with the Securities and Exchange Commission ("SEC") on Sept. 15, 1992, an amendment to the registration statement originally filed on July 21, 1992, in connection with its previously announced equity rights and public offering of shares. Copies of the preliminary prospectus, which AIG anticipates clearing with the SEC for use in October, can be obtained by contacting AIG.
 Subsequent to this filing, AIG's principal subsidiary, Ameribanc Savings Bank, FSB, (the "Bank") was advised by the Office of Thrift Supervision (the "OTS") that the initial capital compliance date in the Bank's Capital Directive has been extended to Nov. 30, 1992, from Sept. 30, 1992. This action was taken pursuant to management's report to the OTS dated Aug. 27, 1992, noting progress made to date in bringing the stock offering to market as well as the progress by the Bank in achieving its business objectives.
 AIG announced that it has engaged Scott & Stringfellow Investment Corp. as financial adviser to AIG and Danielson Associates Inc. as consultant in connection with the proposed offering. Scott & Stringfellow is a leading regional investment banking firm headquartered in Richmond, Va., and Danielson Associates Inc. is a Maryland-based diversified consulting firm providing services exclusively to the financial services industry.
 David W. Campbell, president of the Bank, said that he expects third quarter operating results to be profitable and exceed the expectations of the Bank's business plan. He attributed the Bank's continued financial improvements during the quarter to the efforts by the Bank to control operating expenses and reduce nonearning assets, combined with the current favorable interest rate environment.
 As of August 31, 1992, non-earning assets had declined to $145.3 million from $152.8 million at June 30, 1992, and $164.6 million at March 31, 1992. Management expects further reductions in nonearning assets during September and that the Bank will meet its business plan objectives for nonearning assets. Campbell further noted that the Bank's residential mortgage loan originations remained strong during the quarter and would exceed the prior quarters' originations.
 The Company also announced that AIG President and Chief Executive Officer John J. Houseman and Campbell, who is also executive vice president of AIG, have been appointed to the board of trustees effective Sept. 16, 1992, thereby filling two vacancies and bringing the board to its full complement of 11 members.
 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.
 -0- 9/28/92
 /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:


TW -- DC017 -- 4003 09/28/92 13:35 EDT
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Date:Sep 28, 1992
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