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FLEET FINANCIAL GROUP FILES ODD LOT TENDER OFFER FOR TWO SERIES OF PREFERRED STOCK

 PROVIDENCE, R.I., Nov. 22 /PRNewswire/ -- Fleet Financial Group (NYSE: FLT) announced today that it has commenced an odd lot tender offer to purchase, for cash, lots of 99 shares or less of two series of preferred stock.
 The tender for the Series III depositary shares (each representing a one-fourth interest in a share of Fleet's Series III 10.12 percent Perpetual Preferred Stock) will be at a price of $30.50, net, per depositary share, plus dividends accrued from Dec. 1, 1993 through the expiration date of the odd lot tender offer.
 The tender for the Series IV depositary shares (each representing a one-fourth interest in a share of Fleet's Series IV 9.375 percent Perpetual Preferred Stock) will be at a price of $29.23, net per depositary share, plus dividends accrued from Dec. 1, 1993 through the expiration date of the odd lot tender offer.
 The offer, proration period and withdrawal rights will expire at 5 p.m. (EDT) on Dec. 21, 1993, unless the offer is extended. Based on such current expiration date of Dec. 21, 1993 (assuming the offer is not extended for either series), the accrued dividends would be $0.1476 per Series III depositary share and $0.1367 per Series IV depositary share, resulting in a purchase price of $30.6476 per Series III depositary share and $29.3867 per Series IV depositary share.
 The offer will be made only by means of, and upon the terms and subject to the conditions set forth in, Fleet's offer to purchase dated Nov. 19, 1993 and the related letters of transmittal.
 Fleet Financial Group is a $47-billion diversified financial services company listed on the New York Stock Exchange with approximately 1,200 offices nationwide. Its lines of business include commercial and consumer banking, mortgage banking, consumer finance, asset-based lending, equipment leasing, investment management, and student loan processing.
 -0- 11/22/93
 /CONTACT: Robert W. Lougee, Jr., vice president and director, corporation communications, 401-278-5879; or Bruce P. Crooks, 401-278-6241; or Thomas A. Lavelle, 401-278-3003 (media); or Judith B. Ragge, 401-278-6444 (investor), all of Fleet Financial Group/
 (FLT)


CO: Fleet Financial Group ST: Rhode Island IN: FIN SU: OFR

CM-JL -- NE012 -- 6922 11/22/93 15:47 EST
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Publication:PR Newswire
Date:Nov 22, 1993
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