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CARTERET SAVINGS BANK ANNOUNCES TERMINATION OF AGREEMENT

 CARTERET SAVINGS BANK ANNOUNCES TERMINATION OF AGREEMENT
 GREENWICH, Conn., Nov. 12 /PRNewswire/ -- AmBase Corporation (NYSE: ABC), The Carlyle Group and Colony Capital, Inc. announced the termination of the letter of intent pursuant to which they had the right to recapitalize Carteret Savings Bank, FA.
 With the termination of this agreement, AmBase announced that it has entered into discussions on a non-exclusive basis with a southwestern financial institution which is currently engaged in extensive due diligence on Carteret.
 -0- 11/12/92
 /CONTACT: Donald E. Reinhard of Carteret Savings Bank 201-263-3011, ext. 6450/
 (ABC) CO: Carteret Savings Bank, F.A. ST: New Jersey IN: FIN SU:


AH -- NY089 -- 0364 11/12/92 16:16 EST
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Publication:PR Newswire
Date:Nov 12, 1992
Words:114
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