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FARRAGUT MORTGAGE CO. ANNOUNCES PUBLIC OFFERING

 FARRAGUT MORTGAGE CO. ANNOUNCES PUBLIC OFFERING
 MANSFIELD, Mass., Feb. 25 /PRNewswire/ -- Farragut Mortgage Co.,


Inc. announced today the public offering of 2 million shares of common stock at a price of $6.50 per share. All of the shares being offered are being sold by Farragut.
 Paulson Investment Company, Inc. and H.D. Brous & Co., Inc. have been named as representatives of the underwriting group. Farragut has granted the representatives an overallotment option to purchase up to 300,000 additional shares.
 Farragut intends to use the net proceeds from the proposed sale of the shares to provide capital to support its purchase of servicing.
 Farragut is engaged in the residential mortgage banking business which involves the origination, purchase, sale and servicing of one-to-four family mortgage loans.
 In order to obtain a copy of the written prospectus, contact Thomas W. McChesney, Paulson Investment Company, Inc., 811 S.W. Front Ave., Portland, Ore., 97204, telephone 503-243-6000.
 -0- 2/25/92
 /CONTACT: Ed Lagarde of Farragut Mortgage, 508-337-8605/ CO: Farragut Mortgage Company ST: Massachusetts IN: FIN SU: OFR


EG-SH -- NE011 -- 2548 02/25/92 17:07 EST
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Publication:PR Newswire
Date:Feb 25, 1992
Words:184
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