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GREAT LAKES BANCORP BOARD, LOCAL SHAREHOLDER GROUP END LITIGATION, AVERT PROXY CONTEST

 GREAT LAKES BANCORP BOARD, LOCAL SHAREHOLDER GROUP END LITIGATION,
 AVERT PROXY CONTEST
 ANN ARBOR, MICH., April 14, 1992 -- Great Lakes Bancorp (NASDAQ-NMS: GLBC) and a local shareholder's committee jointly announced today that they have reached an agreement to terminate litigation, thus averting a threatened proxy fight in connection with the 1992 annual meeting.
 According to the agreement, Great Lakes would expand its board of directors to 15 members and add two of the Committee's representatives to the Bank's slate of directors for election at its May 20 annual meeting.
 "Our agreement ends the controversy and enables us all to proceed in a constructive manner and focus our full attention on operating the bank," said Robert J. Delonis, Great Lakes Bancorp's president and chief executive officer.
 Members of the committee collectively hold approximately 5.1 percent of the outstanding common shares. The two nominees joining Great Lakes' slate of directors from the committee are Daniel Gilbert, president of Bingham Farms-based Rock Financial Corp., and Ronald Berman, president of BEG Enterprises and Century 21 Northwestern, both based in Farmington Hills.
 "We are confident we can contribute to the board's decision-making process with additional expertise, particularly in real estate and mortgage banking," Gilbert said, "and we're looking forward to working together with the board and management in a spirit of cooperation."
 In addition to the committee's two nominees, three current directors will also run for three-year terms: the incumbent directors are William W. Kessel, an account executive with Roney & Co., an investment banking and brokerage firm; Dr. Theodore R. Meadows, director of Catherine McAuley Health Center's Department of Pathology; and George J. Nichols, former chairman, president and chief executive officer of Arbor Plastics Products, Inc. Nominated for a one-year term is former Hoover Universal sales executive Richard A. Hadler.
 Under the agreement, all litigation will be dropped and the committee will not solicit votes for or against a proposal to form a board committee to solicit and consider offers to sell the bank.
 "We are always willing to examine ideas and proposals to maximize shareowner value," Delonis said. "If we do not always accept them, it is because we sincerely believe that they are not in the long-term interests of our shareowners, to whom we are ultimately responsible."
 With $2.9 billion in assets and $1.9 billion in deposits, Great Lakes Bancorp is Michigan's second-largest savings bank. Great Lakes has branches throughout Michigan, with primary concentrations in the Ann Arbor, Battle Creek, and Saginaw areas. In addition, a division of Great Lakes, Dollar Federal Savings Bank, has a significant presence in Hamilton, Ohio. Great Lakes also operates Great Lakes Mortgage Co., a mortgage banking subsidiary.
 -0- 4/14/92
 /NOTE: The following table sets forth information regarding the directors of the bank and certain other persons who may be deemed to be "participants" in the solicitation of proxies by the bank under federal securities laws.
 Shares Beneficially Owned(1)
 Name and Principal Common Preferred
 Business Address Occupation Stock Stock
 Robert J. Delonis President and chief 44,828(2) 500
 Great Lakes Bancorp operating officer of
 401 E. Liberty St. the bank(3)
 Ann Arbor, MI 48104
 Donald J. DeNooyer Retired; former owner, 1,079 ---
 Great Lakes Bancorp president and general
 401 E. Liberty St. manager, DeNooyer
 Ann Arbor, MI 48104 Chevrolet, Battle
 Creek, Mich.
 Richard A. Hadler Retired; former sales 55,452(4) 11,000
 Great Lakes Bancorp executive, Hoover
 401 E. Liberty St. Universal, Inc., a
 Ann Arbor, MI 48104 diversified manufacturing
 firm, Ann Arbor, Mich.
 Albert Sargent Harvey Retired; former owner, 9,492 ---
 Great Lakes Bancorp president and general
 401 E. Liberty St. manager, Sarge Harvey Ford
 Ann Arbor, MI 48104 Inc., Saginaw, Mich.
 Bruce A. Hubbard Secretary of the bank 9,277(5) ---
 Great Lakes Bancorp
 401 E. Liberty St.
 Ann Arbor, MI 48104
 William W. Kessel Account executive with 20,200 ---
 Roney & Company Roney & Company, an
 5800 Gratiot investment banking firm
 Suite 106
 Saginaw, MI 48603
 John R. Laird Partner, Laird, Chin & 21,736 ---
 Laird & Chin Schwartz, a law firm,
 401 E. Liberty St. Ann Arbor, Mich.
 No. 421
 Ann Arbor, MI 48104
 Theodore R. Meadows Physician and director, 1,560 ---
 Catherine McAuley Department of Pathology,
 Health Center Catherine McAuley Health
 5301 E. Huron River Center
 Drive
 Ann Arbor, MI 48106
 Francis R. Mercer Retired; former senior 10,672 ---
 Great Lakes Bancorp vice president and
 401. E. Liberty St. regional manager of
 Ann Arbor, MI 48104 the bank
 George J. Nichols Jr. Retired; former chairman, 11,281 ---
 Great Lakes Bancorp president and chief
 401 E. Liberty St. executive officer, Arbor
 Ann Arbor, MI 48104 Plastics Products, Inc.
 James Patterson Vice president of the 2,426(6) ---
 Great Lakes Bancorp bank
 401. E. Liberty St.
 Ann Arbor, MI 48104
 Mark K. Rosenfeld President, chief 2,041 ---
 Jacobson Stores, Inc. operating officer and
 3333 Sargent Road director of Jacobson
 Jackson, MI 49201 Stores, Inc., a retail
 department store,
 Jackson, Mich.
 James E. Stephenson Partner, Harness, Dickey 26,418 ---
 Harness, Dickey & & Pierce, a law firm,
 Pierce Ann Arbor, Mich.
 401 E. Liberty St.
 Suite 555
 Ann Arbor, MI 48104
 Roy E. Weber Chairman of the board 158,910(7) 2,500
 Great Lakes Bancorp and chief executive
 401 E. Liberty St. officer of the bank(3)
 Ann Arbor, MI 48104
 Lloyd J. Yeo Principal, Yeo & Yeo, 8,658 ---
 Yeo & Yeo certified public
 3023 Davenport accountants, Saginaw,
 Saginaw, MI 48602 Mich.
 (1) -- Includes all shares beneficially owned directly or indirectly.
 (2) -- Includes 33,871 shares that Mr. Delonis can acquire within the next 60 days pursuant to the exercise of stock options. Does not include 12,749 shares underlying options that are not exercisable within the next 60 days.
 (3) -- Mr. Delonis is expected to succeed Mr. Weber as chief executive officer of the bank as of March 31, 1992.
 (4) -- Includes 4,325 shares that Mr. Hadler can acquire within the next 60 days pursuant to the exercise of 16,020 warrants.
 (5) -- Includes 5,408 shares that Mr. Hubbard can acquire within the next 60 days pursuant to the exercise of stock options. Does not include 1,020 shares underlying options that are not exercisable within the next 60 days.
 (6) -- Includes 1,080 shares that Mr. Patterson can acquire within the next 60 days pursuant to the exercise of stock options.
 (7) -- Includes 106,067 shares that Mr. Weber can acquire within the next 60 days pursuant to the exercise of stock options. Does not include 12,750 shares underlying options that are not exercisable within the next 60 days. Includes 3,510 shares that Mr. Weber can acquire within the next 60 days pursuant to the exercise of 13,000 warrants.
 CONTACT: Bruce A. Hubbard, corporate secretary, 313-769-8300, Ext. 4215, or James S. Patterson, vice president, corporate communications, 313-769-8300, Ext. 4116, both of Great Lakes Bancorp/
 (GLBC) CO: Great Lakes Bancorp ST: Michigan IN: FIN SU:


JG -- DE041 -- 8332 04/14/92 16:44 EDT
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