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EDWARD G. HARSHFIELD TO LEAD CALIFORNIA FEDERAL BANK

 LOS ANGELES, Sept. 29 /PRNewswire/ -- California Federal Bank (NYSE: CAL) today announced the election of veteran banker Edward G. Harshfield, 56, as president and chief executive officer.
 Harshfield, who will assume his duties Oct. 18, 1993, has 29 years of financial services experience including 21 years in banking. He was most recently at First City Texas National Bank, an $8.9 billion statewide banking system based in Houston, where he served as president and chief executive officer under an appointment by the FDIC.
 California Federal said Harshfield, whose appointment is subject to regulatory approval, will be the executive in charge of all operations at the bank. He succeeds William L. Callender, 60, who, as previously announced, will retire. Harshfield also assumes the operating responsibilities of Jerry St. Dennis, 51, who, as also previously announced, resigned in late July from his post as the bank's chairman.
 Harshfield's banking experience includes a 13-year term at Citicorp and its subsidiary, Citibank, where he headed various operations in Asia Pacific and Hong Kong, including consumer banking, commercial and real estate lending and trust and credit card businesses. He also served one year as president and chief executive officer of Columbia Savings and Loan at the request of regulators following their removal of the thrift's management.
 Harshfield's financial services experience also includes service as president and chief executive officer of Household Financial Services, a subsidiary of Household International, and five years at Ford Motor Credit Co. He also served three years at Pepsico Inc. in various operating capacities.
 The bank also announced the election of David Gilbert, an outside director, as chairman of the board effective at the bank's Oct. 20 board meeting. Gilbert, 47, is senior vice president and director of Logica North America, a financial industry consulting firm. The bank said the role of chairman has been modified by its board and that Gilbert will have no operating responsibilities but will chair board meetings, appoint committees, and oversee corporate governance issues. Michael W. Arthur, 54, who has managed the bank's operations as interim chairman since late July, will return to his role as an outside director in November after a transition period, the bank said.
 California Federal Bank, FSB, is the nation's fifth-largest publicly traded savings institution. The bank provides retail banking services through 183 savings and lending offices in California, Florida, Nevada and Georgia.
 -0- 9/29/93
 /CONTACT: James F. Hurley, 213-930-9750, or Frank W. Moore, 213-932-4203/
 (CAL)


CO: California Federal Bank ST: California IN: FIN SU: PER

MF-LM -- LA005 -- 6652 09/29/93 08:30 EDT
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Publication:PR Newswire
Date:Sep 29, 1993
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