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CONTINENTAL BANK NAMES MICHAEL E. O'NEILL CFO; HOLLIS W. RADEMACHER TO RETIRE AFTER 36-YEAR CAREER

 CHICAGO, July 1 /PRNewswire/ -- The Continental Bank Corp. (NYSE: CBK) board of directors has approved the promotion of Michael E. O'Neill to chief financial officer. O'Neill has been a managing director at Continental Bank, supervising its risk management and proprietary trading businesses. In addition, O'Neill has been responsible for long-term planning and engineering the outsourcing of the company's audit, information technology and legal services.
 "Mike O'Neill is very well qualified to assume this key position on Continental's management committee," said Continental Chairman Thomas C. Theobald. "He thinks strategically and has long experience in many phases of our business. Equally important, he has excellent credit and financial management experience."
 O'Neill first joined Continental in 1974 and held a number of international banking positions in the late 1970s and early 1980s. He remained with First Interstate Capital Markets as managing director and co-chief executive when it bought Continental's London-based merchant bank in 1984, but rejoined Continental in 1989 as a managing director in its mergers and acquisitions area.
 O'Neill received a bachelor's degree in 1969 from Princeton University and an M.B.A. from the University of Virginia in 1974.
 O'Neill replaces Hollis W. Rademacher, who will retire as Continental's chief financial officer in October after a distinguished career spanning 36 years at the bank.
 Prior to his role as CFO, Rademacher was Continental's chief credit officer from 1984 to 1988. Earlier, he served customers as a corporate banker and manager of several corporate banking areas.
 "Holly has played a prominent role serving both our customers and the bank throughout his career," said Theobald. "He's been particularly instrumental in recent years as we've strengthened our balance sheet, and has helped us prepare for an increasingly competitive banking environment."
 Rademacher received a bachelor's degree from the University of Minnesota in 1957, and joined Continental later that year. He was appointed vice president in 1969 and senior vice president in 1976. He was named executive vice president in 1981.
 -0- 7/1/93
 /NOTE TO EDITOR: Continental Bank Corp. is a bank holding company that focuses on meeting the capital and financial management needs of public and privately held businesses nationwide. Through its subsidiaries, the company provides business financing, specialized financial and operating services and private banking services. Continental also engages in equity finance and investing, as both principal and arranger, and international trading./
 /CONTACT: Lisa Hewitt, 312-923-5166, William Murschel, 312-923-5130 or Edgar McDougal, 312-923-5200, all of Continental/
 (CBK)


CO: The Continental Bank Corp. ST: Illinois IN: FIN SU: PER

WB -- NY045 -- 7665 07/01/93 11:13 EDT
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Date:Jul 1, 1993
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