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MICHIGAN NATIONAL CORPORATION NAMES DOUGLAS E. EBERT, PRESIDENT, COO

 FARMINGTON HILLS, Mich., Nov. 18 /PRNewswire/ -- Robert J. Mylod, chairman and chief executive officer of Michigan National Corporation (NASDAQ-NMS: MNCO), announced that Douglas E. Ebert was appointed president and chief operating officer of Michigan National Corporation and Michigan National Bank at a board meeting held yesterday.
 Ebert, (48) whose appointment becomes effective on Dec. 13, 1993, was also elected to serve on the corporate and bank boards of directors.
 "The full board of directors is extremely pleased that Doug Ebert has joined our team," said Mylod. "His management credentials in several diverse and challenging roles will serve him well here. He and I intend to form a partnership to develop and implement planning, policy and operating decisions that will expand our success as an independent banking organization," added Mylod.
 Ebert will be responsible for directing the overall control, growth and profitability of Michigan National Corporation's four core businesses: Commercial Banking, Retail Banking, Investment Banking and Mortgage Banking.
 "Michigan National is one of the state's premier financial services institutions, and I'm proud to help Bob Mylod build it successfully for the future," Ebert said. "These are challenging times for the financial services industry, and based on the research I've conducted on Michigan National, this company is poised for growth in the years ahead. I am here to contribute to that success and help the organization realize its significant potential."
 Mylod said the search took approximately four months to complete. "Filling this position has been a part of our long-term strategic plan for the corporation," Mylod added. "It is important for us to deliver high quality products with the highest level of service to our customers while, at the same time, taking advantage of the new opportunities this financial environment presents."
 Ebert is a seasoned banker who entered the financial services industry in 1968 with Manufacturers Hanover Trust Company in New York. After a series of promotions which included senior experience in commercial, retail and international banking, he was elected sector executive vice president of investment banking with responsibility for all investment banking activities worldwide, including corporate finance, merchant banking and trading, as well as the bank's treasury activities.
 He left Manufacturers Hanover in the summer of 1990 to become president and chief operating officer of Southeast Bank in Miami, as Southeast sought to effect a turn-around from a troubled situation. In early 1991, he was appointed chairman and chief executive officer.
 In 1992, he was appointed president and chief executive officer of Lincoln Financial Corporation in Fort Wayne, Ind. Since concluding his responsibilities at Lincoln Financial Corporation, which was merged with Norwest Bank of Minneapolis, earlier this year, Ebert has been involved in a variety of consulting activities, including non-financial services situations.
 Ebert, who majored in economics and psychology at Williams College in Williamstown, Mass., received his bachelor's degree in 1968.
 Born in Washington, D.C., and currently residing in Miami, Ebert is in the process of relocating to Michigan.
 Michigan National Corporation is a diversified financial services corporation with total assets of $10.4 billion and is headquartered in Farmington Hills. Michigan National Corporation's principal subsidiary, Michigan National Bank, has 190 branches throughout Michigan.
 -0- 11/18/93
 /CONTACT: Ariadne Magoulias of Michigan National, 313-473-3428/
 (MNCO)


CO: Michigan National Corporation ST: Michigan IN: FIN SU: PER

ML -- DE005 -- 5890 11/18/93 09:12 EST
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Publication:PR Newswire
Date:Nov 18, 1993
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