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LAUREL SAVINGS ASSOCIATION COMPLETES HOLDING COMPANY REORGANIZATION

 ALLISON PARK, Pa., Dec. 6 /PRNewswire/ -- Edwin R. Maus, president and chief executive officer of Laurel Savings Association, announced today that the association completed its reorganization and the formation of a savings and loan holding company on Dec. 3, 1993.
 The association's common stock is now wholly owned by Laurel Capital Group, Inc. (NASDAQ: LARL), and each share of common stock of the association previously outstanding is now deemed to represent one share of common stock of Laurel Capital Group, Inc., the new holding company. The common stock of Laurel Capital Group, Inc. is now listed on the NASDAQ system under the symbol "LARL," the symbol previously used for Laurel Savings Association. As a result of the reorganization, Laurel Capital Group, Inc. in now a unitary, savings and loan holding company.
 The reorganization was approved by the association's stockholders at the 1992 annual meeting on Nov. 12, 1992. In discussing the new holding company structure, Maus commented, "The reorganization into a holding company will provide the association with greater flexibility in responding to future financial needs, increase the association's ability to compete effectively with other institutions in its market area, and will permit expansion into a broader range of financial services and other business activities."
 Laurel Savings Association is a 106-year-old, Pennsylvania-chartered, SAIF-insured savings association with six offices in Allegheny and Butler counties.
 -0- 12/6/93
 /CONTACT: Edwin R. Maus, president of Laurel Savings, 412-487-7404/
 (LARL)


CO: Laurel Savings Association; Laurel Capital Group, Inc. ST: Pennsylvania IN: FIN SU:

CD-KC -- PG015 -- 0926 12/06/93 16:05 EST
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Publication:PR Newswire
Date:Dec 6, 1993
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