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CHEMICAL BANK COMPETITIVE GRANT PROGRAM OPEN FOR SUBMISSIONS

 NEW YORK, March 8 /PRNewswire/ -- Chemical Banking Corporation (NYSE: CHL) today announced that submissions will be accepted from not- for-profit organizations for the Chemical Bank Competitive Grant Program from March 8 - May 3. Guidelines for the program are available at the customer service desk in all Chemical Bank and Manufacturers Hanover branches in New York City, Long Island, Westchester, Rockland and Orange Counties, as well as upstate communities where Chemical and Manufacturers Hanover have offices.
 Applications for grants, which typically range from $1,000 to $5,000, will be considered from not-for-profit organizations providing services in the following areas: Arts and Culture; Community Revitalization; Precollegiate Education; and Technical Assistance. A small number of larger grants, up to a maximum of $15,000, will be made. However, these grants are usually only awarded to large, city- or county-wide organizations.
 The grant award will be determined by several factors including: how well the program meets focus area; how the money will be used; how many people will it reach; the quality of the proposal and the size and experience of the organization.
 "With the current economic and political environment, corporate grants are the lifeblood of many not-for-profit organizations," stated Carol Parry, managing director of Chemical's Community Development Group. "We are committed to helping these groups and look forward to receiving requests from groups in all of the eligible areas."
 For further information on the Chemical Bank Competitive Grant Program, call 212-309-5856.
 -0- 3/8/93
 /CONTACT: Colleen Kelly of Chemical Banking Corporation, 212-270-2918/
 (CHL)


CO: Chemical Banking Corporation ST: New York IN: FIN SU:

L4-SH -- NY037 -- 3926 03/08/93 10:44 EST
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Date:Mar 8, 1993
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