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NORTHERN TRUST COMPLETES CALIFORNIA PURCHASE

 NORTHERN TRUST COMPLETES CALIFORNIA PURCHASE
 CHICAGO, Feb. 3 /PRNewswire/ -- Northern Trust Corp. (NASDAQ: NTRS),


parent company of Northern Trust of California N.A., and California Federal Bank, FSB, the principal subsidiary of CalFed Inc., today announced the completion of Northern Trust of California's acquisition of all of the personal trust accounts and selected employee benefit accounts of California Federal Bank's subsidiary, Trust Services of America, Inc., Los Angeles, for a purchase price of $47.5 million. Assets to be acquired include $3.4 billion in personal trust and $600 million in selected employee benefit assets under administration.
 Northern Trust Corp. is a bank holding company and one of the country's largest trust institutions with subsidiaries in Illinois, Florida, Arizona, Texas, and California. At Dec. 31, 1991, total assets of the corporation were $13.2 billion and trust assets under administration were $361 billion.
 Northern Trust of California N.A. currently administers more than $1.6 billion in trust assets from offices in Los Angeles, Santa Barbara, San Francisco, Newport Beach and San Diego.
 Los Angeles-based California Federal Bank is the nation's fifth largest savings institution and provides consumer banking services through 185 offices in California, Florida, Nevada and Georgia.
 -0- 2/3/92
 /CONTACT: Sue A. Rageas, 312-444-4279, or Alison A. Winter, 213-612-8820, both of Northern Trust; or James F. Hurley of CalFed, 213-930-9750/
 (NTRS) CO: Northern Trust Corp. ST: California, Illinois IN: FIN SU: TNM


TS -- NY061 -- 6180 02/03/92 12:10 EST
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Publication:PR Newswire
Date:Feb 3, 1992
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