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CLARIFICATION: KEY BANK OF WASHINGTON RELEASES CLARIFICATION ON SALE OF VACANT BRANCH PROPERTIES

 TACOMA, Wash., July 20 /PRNewswire/ -- All six branch properties offered for sale by Key Bank to Sterling Savings (NASDAQ: STSA), as announced on July 19, were vacant and no longer operating as Key Bank branches at the time of the purchase and sales agreement, Key Bank said today.
 The six branches were surplus properties previously closed during the consolidation of branch locations resulting from the Jan. 15, 1993, merger between KeyCorp/Puget Sound Bancorp.
 No currently operating Key Bank branches or Key Bank employees are affected by this transaction.
 Key Bank of Washington, with approximately $6.5 billion in assets and 193 branches, is a subsidiary of KeyCorp. KeyCorp (NYSE: KEY), with assets over $32 billion, is a multi-regional bank holding company headquartered in Albany, N.Y. As "America's neighborhood bank," KeyCorp avoids overcrowded marketplaces, concentrating its resources in smaller communities. KeyCorp focuses its business on consumers and small to medium-sized commercial enterprises.
 -0- 7/20/93
 /CONTACT: Rob Gill, Corporate Relations, of Key Bank, 206-593-3774/
 (KEY STSA)


CO: Key Bank of Washington; Sterling Savings ST: Washington IN: FIN SU:

AL-SB -- SE019 -- 3581 07/20/93 16:45 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
Words:189
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