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GLENFED INC. AND GLENDALE FEDERAL BANK ADD NEW MEMBERS TO HOLDING COMPANY AND BANK BOARDS OF DIRECTORS

 GLENFED INC. AND GLENDALE FEDERAL BANK ADD NEW MEMBERS TO
 HOLDING COMPANY AND BANK BOARDS OF DIRECTORS
 Further Board Reorganization Announced
 GLENDALE, Calif., Aug. 7 /PRNewswire/ -- GLENFED Inc. (NYSE: GLN) today announced that Diane C. Creel, president and chief operating officer of The Earth Technology Corp., has become a director of GLENFED Inc., and John F. Kooken, formerly vice chairman and chief financial officer of Security Pacific Corp., has become a director of Glendale Federal Bank.
 Creel, 43, directs the operations and marketing activities of The Earth Technology Corp., a national environmental and waste management consulting firm with annual sales exceeding $58 million, and also serves as a member of the company's board of directors. She has indepth knowledge and broad experience in operations, business development, marketing and communications.
 Kooken, 60, retired from his position as vice chairman and chief financial officer at Security Pacific Corporation in 1992, after a 32-year career with that financial institution. His experience encompasses a diverse range of activities, including financial and strategic planning; tax, treasury and pension fund management, insurance and investor relations. He also has participated in major acquisitions and divestitures for Security Pacific.
 GLENFED also announced completion of a reorganization of the boards of directors of GLENFED Inc. and Glendale Federal. Dean R. Bailey and E. Gex Williams Jr. resigned as directors of GLENFED Inc. to serve exclusively as directors of Glendale Federal Bank. At the same time, Jean C. Roeschlaub, Douglas A. Clarke and Gilbert Vasquez resigned as directors of Glendale Federal Bank to serve exclusively as directors of GLENFED Inc.
 The realigned board of directors of GLENFED Inc. includes Charles T. Blair, president of Blair Consultants Planning and Engineering; Douglas A. Clarke, retired former president of Glendale Federal Bank; Morris K. Daley, president of Morris Daley Inc.; Creel; Jean C. Roeschlaub, co-owner and executive vice president, Clinton's Restaurants Incorporated; Jack D. Steele, former dean of USC School of Business; Stephen J. Trafton, chairman and chief executive officer of GLENFED Inc. and Glendale Federal Bank; and Gilbert R. Vasquez, executive partner, Gilbert Vasquez & Company CPAs.
 At Glendale Federal Bank, the realigned board of directors includes Dean R. Bailey, president and owner, Harbor Corporation; Brian P. Dempsey, president and chief executive officer, University Savings Bank, a wholly owned subsidiary of Glendale Federal Bank; Richard A. Fink, senior executive vice president of GLENFED, Inc. and Glendale Federal Bank; Kooken; Trafton; Steele, and E. Gex Williams Jr., chairman of the board, Williams, Hatfield & Stoner Inc.
 GLENFED Inc., the parent company of Glendale Federal Bank, provides community banking services through 214 bank offices in California, Florida and Washington.
 -0- 8/7/92
 /CONTACT: Judy Cunningham of GLENFED, 818-500-2274/
 (GLN) CO: GLENFED Inc. ST: California IN: FIN SU: PER


EH-AL -- LA007 -- 8046 08/07/92 13:27 EDT
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Publication:PR Newswire
Date:Aug 7, 1992
Words:462
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