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GREEN POINT SAVINGS BANK CALLS OFFER ILLUSORY; CALLS FOR BANKING DEPARTMENT ACTION

 NEW YORK, Nov. 17 /PRNewswire/ -- The Green Point Savings Bank responded to a statement by Republic.
 Thomas S. Johnson, chairman of The Green Point said, "This is an illusory proposal. There is no payment that Republic can legally make to Green Point depositors. The only possible motivation Republic can have is to disrupt Green Point's conversion which has been approved by the New York State Banking Department. Green Point calls on the Banking Department to take immediate enforcement action against Republic's ongoing illegal actions."
 -0- 11/17/93
 /CONTACT: Richard T. Rice of Hill and Knowlton, Inc., 212-697-5600, 212-210-8716, 212-210-8732, or 212-210-8342/


CO: Green Point Savings Bank ST: New York IN: FIN SU:

CK -- NY121 -- 5785 11/17/93 19:55 EST
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Publication:PR Newswire
Date:Nov 17, 1993
Words:122
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