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McDONALD & COMPANY ANNOUNCES NEW $1 BILLION MONEY MARKET FUND

 CLEVELAND, Sept. 27 /PRNewswire/ -- McDonald & Co. Securities, Inc. ("McDonald & Co.") today announced the formation of the Gradison- McDonald U.S. Government Reserves, a money market fund with approximately $1 billion in assets.
 The Fund is a result of the merger of four money market funds: McDonald Money Market Fund, McDonald U.S. Government Money Market Fund, Gradison Cash Reserves Trust and Gradison U.S. Government Trust.
 The newly formed fund, exclusively investing in U.S. Government and agency securities and in repurchase agreements fully collateralized by such securities, will be managed by the Gradison Division of McDonald & Co. Gradison has managed money market funds for over 17 years and currently has over $2 billion of assets under management in money market funds, equity and bond mutual funds and individually managed accounts.
 McDonald & Co. Securities, Inc., is the principal operation of McDonald & Co. Investments, Inc. (NYSE: MDD). McDonald & Co. Securities, is a regional investment banking, brokerage and investment advisory firm with over 30 offices in nine states. In 1991, McDonald & Co. merged with Gradison & Co., the largest independent brokerage firm and investment advisor in Cincinnati.
 To obtain a Gradison-McDonald U.S. Government Reserves prospectus, call 800-869-5999. Read it carefully before investing. The Fund is neither insured nor guaranteed by the U.S. Government and there can be no assurance that the Fund will be able to maintain a stable $1.00 per share price.
 -0- 9/27/93
 /CONTACT: Richard J. Clark of McDonald & Company Securities, Inc., 216-443-2614/
 (MDD)


CO: McDonald & Co. Securities, Inc. ST: Ohio IN: FIN SU: PDT

AR-KL -- CL001 -- 5825 09/27/93 09:29 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
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