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EUREKABANK ANNOUNCES CONCLUSION OF GOVERNMENT ASSISTANCE; NAMES STEPHEN MCLIN CHAIRMAN OF THE BOARD

 SAN FRANCISCO, June 28 /PRNewswire/ -- EurekaBank today announced that its Assistance Agreement with the Resolution Trust Corp. will conclude June 30, 1993, on schedule, approximately five years after EurekaBank was acquired from the government by America First Financial Fund 1987-A (NASDAQ: AFFFZ).
 The announcement was made by EurekaBank's newly elected chairman of the board, Stephen T. McLin. "This marks another step in the evolution of EurekaBank. EurekaBank has managed a portfolio of $200 million of extremely troubled real estate assets on behalf of the government down to a level of approximately $6 million," McLin said. "This has been a good transaction for everyone. EurekaBank now provides employment for nearly 500 people, has generated an attractive return to its investors and has realized material values for the government through our management of this pool of troubled loans." Conclusion of the Assistance Agreement will have no material financial impact on EurekaBank.
 Separately, EurekaBank's board of directors elected McLin as chairman of the board. The board of America First Eureka Holdings, parent company of EurekaBank, named McLin chief executive officer and nominated George Krauss of Omaha, Neb., who has been general counsel of America First Eureka Holdings, as its chairman. Michael B. Yanney, chairman of America First Companies and general partner of the Financial Fund, of Omaha, who resigned from the EurekaBank and America First Eureka Holdings boards, stated, "Steve was the key person in negotiating the original agreement to purchase EurekaBank, and has been running the holding company since that time. This is a natural promotion for Steve, who will make a good leader for our California operations as we enter this new phase of growth. We at America First are committed to the development of the Financial Fund with a strong sense of continuity, and having Steve running our California operations achieves this goal." The board of directors conveyed its appreciation to Yanney for his five years of enlightened leadership, and expressed confidence that the sound business practices instituted by Yanney would continue to be implemented in the future.
 -0- 6/28/93
 /CONTACT: Stephen T. McLin of EurekaBank, 415-982-3800; or Maurice E. Cox, Jr. of America First, 402-444-1630/
 (AFFFZ)


CO: EurekaBank, America First Financial Fund 1987-A; America First
 Eureka Holdings; America First Companies ST: California, Omaha IN: FIN SU: PER


MC -- DV002 -- 6156 06/28/93 10:32 EDT
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Publication:PR Newswire
Date:Jun 28, 1993
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