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CHEMICAL BANKING TO CONVERT CLASS B SHARES

 CHEMICAL BANKING TO CONVERT CLASS B SHARES
 NEW YORK, March 2 /PRNewswire/ -- Chemical Banking Corporation


(NYSE: CHL) today announced that it has decided to exercise its option to convert the outstanding shares of Class B common stock into shares of common stock of the corporation. The Class B common stock was originally issued in connection with the merger of Texas Commerce Bancshares, Inc. into the corporation in May 1987. Based upon Texas Commerce Adjusted Additional Retained Earnings (Deficit) per share at Dec. 31, 1991, each share of Class B common stock will be converted on March 27, 1992, the date fixed for such conversion into .03 shares of common stock.
 -0- 3/2/92
 /CONTACT: John Meyers, 212-270-7454, or investor contact, John Borden, 212-270-7318, of Chemical Banking Corporation/
 (CHL) CO: Chemical Banking Corporation ST: New York IN: FIN SU:


KD-KW -- NY090 -- 4181 03/02/92 17:04 EST
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Mar 2, 1992
Words:148
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