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CITADEL HOLDING CORP. REPORTS EXTENSION OF LOAN MATURITY

 CITADEL HOLDING CORP. REPORTS EXTENSION OF LOAN MATURITY
 GLENDALE, Calif., Jan. 2 /PRNewswire/ -- Citadel Holding Corporation ("Citadel") (AMEX: CDL), parent company of Fidelity Federal Bank, FSB ("Fidelity"), today reported that Craig Corporation had agreed to extend for thirty days the maturity of its $15 million loan to Citadel due on January 3, 1992. William C. Walbrecher, President and Chief Executive Officer stated: "This extension provides Citadel with further latitude to explore alternative ways to repay the loan and allows the parties to continue negotiating a longer term solution."
 As previously announced, the Board of Directors of Citadel has had under consideration a possible stock rights offering. Citadel continues to entertain the possibility of a securities offering (including, possibly, a rights offering), although the amount, terms and timing are presently undecided.
 Mr. Walbrecher also announced today that Messrs. Geoffrey L. Denempont and Donald R. Boulanger have been appointed to the Boards of Directors of Citadel and Fidelity. The appointments of Messrs. Denempont and Boulanger to the Fidelity board are subject to final OTS approval or non-objection pending review of certain information provided to the OTS. Mr. Gordon R. McDonnell resigned from the Boards earlier this months.
 Citadel common shares are traded on the American Stock Exchange under the symbol "CDL."
 -0- 1/2/92
 /CONTACT: Philip R. Sherringham, Executive Vice President and Chief Financial Officer of Citadel Holding Corporation, 818-956-7100/
 (CDL) CO: Citadel Holding Corp. ST: California IN: FIN SU:


KJ -- LA010 -- 6191 01/02/92 13:31 EST
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Publication:PR Newswire
Date:Jan 2, 1992
Words:248
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