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MARGARETTEN FINANCIAL ANNOUNCES FILING OF $250 MILLION SHELF SECURITIES REGISTRATION

 PERTH AMBOY, N.J., March 30 /PRNewswire/ -- Margaretten Financial Corporation (NYSE: MRG), a residential mortgage banker, today announced that it has filed with the SEC a shelf registration statement for $250 million of senior and subordinated debt instruments, preferred stock, convertible debt and/or convertible preferred stock. This filing, when cleared by the SEC, will enable the Company to issue such securities from time to time.
 Margaretten will use the proceeds of any offerings for general corporate purposes, which may include refinancings of indebtedness, working capital, capital expenditures, acquisitions (including acquisitions of servicing rights) and repurchases and redemptions of securities. Standard & Poor's, Moody's and Fitch rating services are expected to issue ratings for the company's securities.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there by any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 Copies of any preliminary prospectus relating to these securities offered by the Company from time to time pursuant to the shelf registration statement can be obtained from Bruce M. Schnelwar, Executive Vice President and Chief Financial Officer, Margaretten Financial Corporation, 205 Smith Street, Perth Amboy, N.J. 08861.
 Margaretten Financial Corporation, through its mortgage banking subsidiary, Margaretten & Company, Inc., engages in the origination, purchase, sale and servicing of residential mortgage loans. Its Retail Division maintains 63 branch and satellite offices in 18 states, and its Wholesale Division operates primarily in California, Texas, the Pacific Northwest, Arizona and Georgia.
 -0- 3/30/93
 /CONTACT: Michele Katz or Edward Nebb of Morgen-Walke Associates, 212-986-5900, for Margaretten Financial/
 (MRG)


CO: Margaretten Financial Corporation ST: New Jersey IN: FIN SU:

PS -- NY053 -- 1023 03/30/93 11:54 EST
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Publication:PR Newswire
Date:Mar 30, 1993
Words:348
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