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Matrix Capital Announces Agreement to Purchase The Vintage Group, Inc.

DENVER--(BUSINESS WIRE)--Nov. 25, 1996--Matrix Capital Corporation (Nasdaq: MTXC) (Matrix Capital), announced today that it has entered into a definitive agreement to acquire The Vintage Group, Inc. (Vintage), a privately held company, for $11.25 million in newly issued common stock. The transaction will be accounted for as a pooling of interests and no goodwill will be recorded.

Vintage is the parent company of Sterling Trust Company (Sterling Trust) of Waco, Texas, and Vintage Financial Services Corporation, an NASD broker/dealer based in Arlington, Texas.

Sterling Trust is a non-bank trust company specializing in self- directed qualified retirement plans, individual retirement accounts, custodial and directed trust accounts. As of Sept. 30, Sterling Trust had assets under administration of over $1 billion.

The consummation of the acquisition is subject to certain conditions including regulatory and shareholder approval.

As of Sept. 30, 1996, Matrix Capital's assets totaled $207.1 million, up $31.2 million from the beginning of the year.

On Oct. 18, 1996, Matrix Capital announced its initial public offering and its stock began trading on the NASDAQ National Market. The initial public offering price for 1,750,000 shares of common stock was $10.00 per share.

Matrix Capital Corporation is a specialized financial services company headquartered in Denver, Colo. Its operations are conducted primarily in Colorado, Arizona and New Mexico.

CONTACT: Matrix Capital Corporation

David W. Kloos, 303/595-9898
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Publication:Business Wire
Date:Nov 25, 1996
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