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CALIFORNIA FEDERAL BANK HOLDS ANNUAL MEETING OF SHAREHOLDERS

 LOS ANGELES, March 31 /PRNewswire/ -- Shareholders of California Federal Bank (NYSE: CAL) have elected nine directors at the bank's annual meeting of shareholders today in Los Angeles.
 The directors are Jerry St. Dennis, chairman of California Federal Bank; William L. Callender, president and chief executive officer of the bank; James J. Gaffney, management consultant; David Gilbert, senior vice president and director of financial industry consulting, Logica North America; Michael W. Arthur, president, Michael Arthur & Associates; John F. Davis, attorney at law; Robert S. Apfelberg, managing director, Commerce Partners; Carl A. LoBue, president, LoBue Associates, Inc.; and Thomas F. Michels, chief executive and owner, Odessa Packaging Services Inc.
 Also approved by shareholders at Wednesday's meeting were a proposed 1993 employee stock incentive plan, a proposed 1993 non- employee director stock option plan, and a proposed amendment to the bank's charter.
 California Federal Bank, FSB, provides retail banking services and home mortgages through 186 savings and lending offices in California, Florida, Nevada and Georgia.
 -0- 3/31/93
 /CONTACT: James F. Hurley, 213-930-9755, or Frank W. Moore, 213-932-4203, both of California Federal Bank/
 (CAL)


CO: California Federal Bank ST: California IN: FIN SU: PER

KJ -- LA026 -- 1727 03/31/93 17:30 EST
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Publication:PR Newswire
Date:Mar 31, 1993
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