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MOUNTAIN PARKS FINANCIAL CORP. ANNOUNCES FILING OF INITIAL PUBLIC STOCK OFFERING

 MINNEAPOLIS, July 14 /PRNewswire/ -- Mountain Parks Financial Corp. announced today it has filed with the Securities and Exchange Commission a registration statement for an initial public offering of 800,000 shares of common stock. In addition, the company is offering $5,500,000 of Convertible Subordinated Debentures due in the year 2003. The lead underwriter will be Dain Bosworth Incorporated. Net proceeds from the offering will be used to repay existing indebtedness, to purchase outstanding stock from a principal stockholder of the company and to support the corporation's growth strategy.
 Mountain Parks Financial Corp. is a multi-bank holding company which owns three banks with banking facilities in seven central Colorado communities. The company's flagship bank is The Bank National Association, located in Breckenridge, Colo., which serves customers in the major recreational areas of Park and Summit Counties (including Breckenridge, Keystone, Arapaho Basin and Copper Mountain) through locations in Breckenridge, Fairplay and Frisco. The bank, located in Evergreen, Colo., with a branch in nearby Conifer, Colo., serves suburban communities in the foothills of the Rocky Mountains west of Denver. Mountain Parks Bank, located in Kremmling, Colo., with a branch in Granby, serves business and individual customers in Grand County, including Grand Lake, which is the main western entrance to Rocky Mountain National Park.
 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 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 be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state.
 A copy of the preliminary prospectus relating to these securities may be obtained from Dain Bosworth Incorporated, 100 Dain Tower, Minneapolis, Minn. 55402; 612-371-2711.
 -0- 7/13/93
 /CONTACT: John A. Fischer of Mountain Parks Financial Corp., 612-338-3158/
 (MPFC)


CO: Mountain Parks Financial Corp. ST: Minnesota, Colorado IN: FIN SU: OFR

MA -- MN001 -- 1220 07/14/93 08:51 EDT
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Publication:PR Newswire
Date:Jul 14, 1993
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