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FIRST CHICAGO TO SELL HALF OF REAL ESTATE DISPOSITION PORTFOLIO TO GE CAPITAL

 CHICAGO, Feb. 25 /PRNewswire/ -- First Chicago Corporation (NYSE: FNB) today announced a definitive agreement with GE Capital for the sale of approximately half of the real estate exposure in The First National Bank of Chicago's accelerated disposition portfolio.
 At Dec. 31, 1992, the total exposure in the accelerated disposition portfolio was $1.037 billion, or approximately 46 percent of original contractual exposure. Under the terms of the agreement, GE Capital will pay approximately $500 million for assets with $1.0 billion in original contractual value. Total payments, however, will depend on the final level and composition of the asset pool sold. Final due diligence is near completion and sales will occur over the first two quarters of 1993, with the majority of asset sales to be closed by March 31, 1993.
 First Chicago does not expect the transaction to have a material effect on its earnings.
 First Chicago Corporation, with $49.3 billion in assets, is the nation's 13th largest bank holding company, and provides a complete line of financial products and services to corporations, institutional investors, government agencies and consumers.
 -0- 2/25/93
 /CONTACT: Lisabeth Weiner of First Chicago, 312-732-4455/
 (FNB)


CO: First Chicago Corporation ST: Illinois IN: FIN SU: TNM

TS -- NY012 -- 0251 02/25/93 08:59 EST
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Publication:PR Newswire
Date:Feb 25, 1993
Words:212
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