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CORRECTION TO MID AM SIGNS LETTER OF INTENT WITH COLONIAL FEDERAL

 /C O R R E C T I O N -- MID AM, INC./
 In CL003, Mid Am Signs Letter of Intent With Colonial Federal, moved


earlier today, we are advised by the company that the following information was omitted from the original release:
 TRANSACTION SUMMARY
 Acquiror: Mid Am, Inc.
 A multi-bank holding company
 Bowling Green, Ohio
 Target: Colonial Federal Savings Bank
 A federal savings bank
 Bellefontaine, Ohio
 Information about Colonial Federal:
 Total Assets: $82.5 million(A)
 Total Deposits: $74.4 million(A)
 Total Equity: $7.7 million(A)
 1991 Net Income: $778,000
 Outstanding Shares: 227,025 (including options)
 1991 EPS: $2.34
 1991 ROA: .95 percent
 1991 ROE: 12.78 percent
 1991 Net Interest Margin: 3.32 percent
 (A) -- As of June 30, 1992
 Transaction Information:
 -- Purchase Price: $55.00 per Colonial common share
 -- Payable in Mid Am, Inc. common stock (MIAM)
 -- Valued at average closing price of MIAM for 20 trading days
 preceding closing
 -- Ceiling and floor of MIAM, for purposes of computing exchange
 ratio only, at $22.00 and $17.25
 -- Structured as a tax free exchange of stock, with 9.5 percent of
 purchase price payable in cash
 -- Merger is expected to be accounted for on a pooling-of-interest
 basis with immaterial dilution
 -- Expected closing date: first quarter 1993
 -- Transaction subject to the execution of a definitive agreement,
 and other conditions including various regulatory approvals.
 -0- 8/7/92 C CL003


KK -- CL003A -- 7917 08/07/92 09:55 EDT
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Date:Aug 7, 1992
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