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CONCORD SELECTED AS ADMINISTRATOR AND DISTRIBUTOR OF NEW MUTUAL FUNDS ADVISED BY CHICAGO-BASED CONTINENTAL BANK

 NEW YORK, Sept. 1 /PRNewswire/ -- Concord Holding Corporation will be the administrator and its subsidiary, Concord Financial Group, Inc., will be the distributor and sponsor of a new family of mutual funds managed by Chicago-based Continental Bank, N.A.
 Concord, with headquarters in New York, is the largest administrator and distributor of proprietary bank funds.
 "Concord Financial Group, Inc., is pleased to have an important role in helping Continental Bank, a premier financial institution, make available mutual funds," said Richard E. Stierwalt, chairman and chief executive officer of Concord Holding Corporation. "This is a major undertaking and one that adds a valuable new service for the bank's clients. In the months and years ahead we expect to work closely with Continental to help increase fund assets and to introduce additional funds to serve their clients' needs."
 Continental Bank, a leading provider of cash management and master trust/custody services, has introduced The 231 Funds to expand the investment services the bank makes available to its corporate, institutional and private bank clients. They will include three money market funds specifically designed for these markets. The funds are named after the address of the bank's historic headquarters at 231 S. LaSalle St. in Chicago.
 Concord has over $34 billion (as of Aug. 27, 1993) in proprietary fund assets under administration, representing more than 90 mutual funds. Other bank clients include Bank of America, The Bank of New York, Barnett Banks Inc., The Chase Manhattan Bank, Credit Suisse/BEA Associates and United States Trust Company.
 Concord Financial Group, Inc., is not affiliated with Continental Bank. Investments in The 231 funds are not deposits or obligations of, or guaranteed by, Continental Bank and are not insured by the FDIC or any other government agency.
 For a prospectus containing more complete information, including charges and expenses, call 1-800-231-FUND.
 -0- 9/1/93
 /CONTACT: Laura Berger, or Stan Appenzeller, both of Arlen Financial Communications, 212-966-5100/


CO: Concord Holding Corporation; Continental Bank, N.A. ST: New York IN: FIN SU:

LD-SM -- NY004 -- 7795 09/01/93 09:02 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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