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GLENDALE FEDERAL BANK TO SELL FIXED HOME EQUITY CONSUMER LOAN PORTFOLIO TO HOUSEHOLD INTERNATIONAL

 GLENDALE FEDERAL BANK TO SELL FIXED HOME EQUITY
 CONSUMER LOAN PORTFOLIO TO HOUSEHOLD INTERNATIONAL
 GLENDALE, CALIF., Jan. 9 /PRNewswire/ -- Glendale Federal Bank, a subsidiary of GLENFED, Inc. (NYSE: GLN), today announced that it has reached an agreement in principle to sell up to $500 million of its fixed home equity consumer loans to Household International (HI) of Prospect Heights, Ill. Terms of the transaction, which is expected to close March 1, 1992, were not disclosed.
 Stephen Trafton, president and chief financial officer of Glendale Federal Bank, commented, "The sale of these consumer loans is consistent with our strategic plan, under which we are refocusing our emphasis on single family mortgages and savings products. Also, this transaction will be beneficial to Glendale Federal Bank in its efforts to increase its capital position."
 Glendale Federal Bank is a community savings bank which operates 214 banking offices in California, Washington and Florida.
 -0- 1/9/92
 /CONTACT: Judy Cunningham, 818-500-2274 or Rosanne O'Brien 818-500-2824, both of Glendale Federal Bank/
 (GLN) CO: Glendale Federal Bank ST: California IN: FIN SU: TNM


EH -- LA004 -- 8074 01/09/92 09:04 EST
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Publication:PR Newswire
Date:Jan 9, 1992
Words:186
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