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LSB INDUSTRIES, INC. ANNOUNCES COMPLETION OF EQUITY BANK FOR SAVINGS, F.A. AGREEMENT WITH REGULATORS AS TO THE VALUE OF CERTAIN ASSETS

 OKLAHOMA CITY, Dec. 16 /PRNewswire/ -- LSB Industries, Inc. (AMEX: LSB) announced today the completion of the previously disclosed agreement in principle between LSB's wholly owned subsidiary, Equity Bank for Savings, F.A. and its regulators relating to the carrying value of certain assets contributed by LSB to Equity Bank in 1988.
 As a result of completion of the agreement, Equity Bank's regulators reconfirmed the carrying value of those contributed assets. Equity Bank has met in the past and continues to meet its capital requirements.
 LSB is a diversified company engaged in financial services and a variety of manufacturing, engineering, and marketing activities on a worldwide basis. LSB's principal industrial business consists of the manufacture and sale of chemical products, residential and commercial air conditioning products, and automotive and industrial products. LSB's common stock, debentures, and $2.20 Series 1 convertible exchangeable Class C preferred stock are listed for trading on the American Stock Exchange.
 -0- 12/16/92
 /CONTACT: Tony M. Shelby, chief financial officer of LSB Industries, Inc., 405-235-4546/
 (LSB)


CO: LSB Industries, Inc.; Equity Bank for Savings, F.A. ST: Oklahoma IN: FIN SU: TNM

CK -- NY058 -- 7713 12/16/92 12:38 EST
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Publication:PR Newswire
Date:Dec 16, 1992
Words:196
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