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MELLON ANNOUNCES PLAN TO REPURCHASE STOCK

 PITTSBURGH, Oct. 19 /PRNewswire/ -- Mellon Bank Corporation (NYSE: MEL) announced today that its board of directors has authorized the repurchase of up to 1,000,000 shares of the corporation's common stock.
 The corporation expects to make the repurchases from time to time in the open market or through privately negotiated transactions. Repurchased common shares will be added to the corporation's treasury shares and will be used to meet the corporation's current and near-term common stock requirements for its stock-based benefit plans. At Sept. 30, 1993, the corporation had 63.8 million shares of common stock outstanding.
 With assets of approximately $35 billion, Mellon Bank Corporation is a major superregional bank holding company. Through its subsidiaries, it provides wholesale, middle market and retail banking, as well as numerous fee-based service products, including trust and investment, cash management and mortgage banking.
 /delval/
 -0- 10/19/93
 /CONTACT: analysts, Charles M. Johnston, 412-234-5601, or media, Margaret K. Cohen, 412-234-0850, both of Mellon Bank/
 (MEL)


CO: Mellon Bank Corporation ST: Pennsylvania IN: FIN SU:

KC -- PG016 -- 4172 10/19/93 16:22 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
Words:180
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