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MAGNA GROUP HOLDS MEETING, ELECTS DIRECTORS

 ST. LOUIS, May 5 /PRNewswire/ -- The Annual Meeting of Stockholders of Magna Group, Inc. (NASDAQ: MAGI) was held at 10:00 a.m. on Wednesday, May 5, 1993, in downtown St. Louis. At the meeting, stockholders approved the election of five class II directors to hold office for a term of three years. Those elected had previously served as directors. They are: G. Thomas Andes, president and chief operating officer of Magna Group, Inc.; Donald P. Gallop, Chairman of the law firm of Gallop, Johnson & Neuman; Donald G. Geary, industrial and warehousing developer; Wendell J. Kelley, retired chairman of the board and chief executive officer of Illinois Power Company; and Robert E. McGlynn, attorney McGlynn & McGlynn.
 William S. Badgley, chairman and chief executive officer of Magna, reviewed Magna's performance for the year 1992 and for the first quarter of 1993, and plans for the future.
 G. Thomas Andes, president and chief operating officer of Magna, reviewed Magna's key strategic objectives achieved in 1992 and those targeted for 1993. Mr. Andes announced that the company's 1993 strategic objectives included an ongoing focus on retail lending, asset quality improvement, continued expense savings through centralization and consolidation, maintaining Magna's community orientation and delivery of quality products and first class service.
 Gary D. Hemmer, executive vice president, retail banking and administration of Magna, reviewed in detail Magna's focus on retail banking including programs for the delivery of quality products and services.
 Mr. Badgley concluded by commenting on the generally improved health within the banking industry and the need for reduced regulatory burden on banking.
 Magna Group, Inc. with $3.6 billion in assets, operates 85 community banking locations in Illinois and Missouri, and is the third-largest bank holding company based in St. Louis. Within the greater St. Louis metropolitan area, Magna has 61 offices with $2.7 billion in assets.
 -0- 05/05/93
 /CONTACT: Paul E. Gerson, 314-963-2508, Jennifer Cihlar, 314-963-2546, both of Magna Group/
 (MAGI)


CO: Magna Group, Inc. ST: Missouri IN: FIN SU: PER

AH -- NY098 -- 5082 05/05/93 17:34 EDT
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Publication:PR Newswire
Date:May 5, 1993
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