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CONTINENTAL SAVINGS OF AMERICA FILES FOR PUBLIC OFFERING OF PREFERRED STOCK

 CONTINENTAL SAVINGS OF AMERICA
 FILES FOR PUBLIC OFFERING OF PREFERRED STOCK
 SAN FRANCISCO, May 22 /PRNewswire/ -- Continental Savings of America (NASDAQ: CSAV) announced today that it filed an Offering Circular with the Office of Thrift Supervision relating to its proposed public offering of 3,500,000 shares of Series A Noncumulative Convertible Preferred Stock. The offering will be made only by means of an Offering Circular and will be underwritten by a syndicate of underwriters led by Josepthal Lyon & Ross. Offering Circulars may be obtained from Josepthal Lyon & Ross Inc., 6 East 43rd St., New York, NY 10017.
 Continental Savings is a federally chartered stock savings and loan association that operates six savings branch offices and five loan offices in the city of San Francisco and its surrounding communities as well as three loan offices in the greater Los Angeles area. Its principal business consists of originating loans secured by existing single family residences for sale in the secondary mortgage market.
 A Form OC relating to these securities has been filed with the Office of Thrift Supervision but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Form OC becomes effective. This announcement shall not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 5/22/92
 /CONTACT: Ralph Christy of Continental Savings of America, 415-274-3000/
 (CSAV) CO: Continental Savings of America ST: California IN: FIN SU: OFR


DG-MC -- SF002 -- 3175 05/22/92 09:02 EDT
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Publication:PR Newswire
Date:May 22, 1992
Words:291
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