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COLORADO NATIONAL BANKSHARES RECEIVES FAVORABLE APPEALS COURT RULING

 DENVER, Jan. 27 /PRNewswire/ -- The U.S. Court of Appeals for the Tenth Circuit affirmed this week a 1990 U.S. Tax Court decision that Colorado National Bankshares Inc. (NASDAQ-NMS: COLC) is entitled to a tax deduction for the amortization of deposit base intangible assets acquired in bank acquisitions. It is not known whether the Internal Revenue Service will file a petition for rehearing or appeal.
 Colorado National Bankshares is a bank holding company headquartered in Denver. The company is comprised of 8 commercial banks providing 24 banking offices throughout Colorado as well as several other bank- related subsidiaries including a mortgage banking company, a leasing company and an insurance agency. It is also manager and 50 percent owner of Rocky Mountain BankCard System Inc., a national credit card issuer and one of the largest processors of credit card transactions in the country.
 -0- 1/27/93
 /CONTACT: James L. Basey of Colorado National Bankshares, 303-629-1968/
 (COLC)


CO: Colorado National Bankshares Inc. ST: Colorado IN: FIN SU:

BB -- DV012 -- 9911 01/27/93 17:10 EST
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Publication:PR Newswire
Date:Jan 27, 1993
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