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LAUREL SAVINGS ASSOCIATION ANNOUNCES 5-FOR-4 STOCK SPLIT

 ALLISON PARK, Pa., Aug. 23 /PRNewswire/ -- The board of directors of Laurel Savings Association (NASDAQ: LARL), at their Aug. 19 board meeting, declared a 5-for-4 stock split of the association's common stock.
 The dividend is payable on Sept. 17, 1993, to stockholders of record at the close of business Sept. 3, 1993. As a result of the stock split, the company's outstanding shares will increase approximately 25 percent to 788,413 before cash in lieu of fractional shares from the current level of 630,731.
 In discussing the board's action, Edwin R. Maus, president and chief executive officer, stated, "This represents the second stock split in two years for Laurel Savings and it is reflective of the association's excellent earnings growth rate. The split expresses our confidence in the ongoing profitability and growth of the association and our commitment to providing a stable return to our stockholders."
 Laurel Savings Association is a 106-year-old, Pennsylvania-chartered, SAIF-insured savings association conducting business through six offices in Allegheny and Butler counties.
 -0- 8/23/93
 /CONTACT: Edwin R. Maus, president & CEO of Laurel Savings, 412-487-7404/
 (LARL)


CO: Laurel Savings Association ST: Pennsylvania IN: FIN SU:

CD-DM -- PG008 -- 5184 08/23/93 16:54 EDT
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Publication:PR Newswire
Date:Aug 23, 1993
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