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CITADEL HOLDING ISSUES STATEMENT

 CITADEL HOLDING ISSUES STATEMENT
 GLENDALE, Calif., Dec. 4 /PRNewswire/ -- William C. Walbrecher,


president and chief executive officer of Citadel Holding Corporation (the "company") (AMEX: CDL) and its wholly owned subsidiary, Fidelity Federal Bank, FSB, announced today that the company knows of no information or developments, not previously disclosed by the company, which would account for the significant decline in the price of its stock in recent periods. Mr. Walbrecher noted that since the company's Sept. 27 press release concerning certain write downs and reserves, the closing price for the company's shares has fallen from $34.25 on Sept. 26, 1991, to $8.875 on Dec. 4, 1991, on a cumulative volume of approximately 116,600 shares. This volume represents only approximately 3.5 percent of the company's outstanding shares. The company's stock is historically thinly traded and, according to filings made with the Securities and Exchange Commission, approximately 48.8 percent of the company's outstanding shares are held by four investors. Mr. Walbrecher also announced that, although no assurances could be given, based upon preliminary negotiations with Craig Corporation, he felt optimistic that the company's $15,000,000 indebtedness to that company would be negotiated prior to its Jan. 3, 1992, due date and that no default would be incurred with respect thereto.
 -0- 12/4/91
 /CONTACT: Philip R. Sherringham, executive VP and CFO of Citadel Holding Corporation, 818-956-7100/
 (CDL) CO: Citadel Holding Corporation; Fidelity Federal Bank ST: California IN: FIN SU:


CH -- NYON1 -- 9453 12/05/91 00:59 EST
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Publication:PR Newswire
Date:Dec 5, 1991
Words:252
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