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PNC BANK NOT TO SELL WESTERN OFFICES OF SEARS MORTGAGE

 PITTSBURGH, Aug. 3 /PRNewswire/ -- PNC Bank Corp. (NYSE: PNC) announced today that it has decided not to sell the western mortgage production offices of Sears Mortgage Corporation upon its acquisition of the Sears Mortgage Banking Group from Sears, Roebuck and Co., (NYSE: S) expected to be completed later this year.
 The company said that negotiations with a management-led group to acquire the western mortgage production offices have been discontinued. PNC Bank will not pursue other sale opportunities.
 PNC Bank is the 10th-largest banking organization in the United States, with $53.8 billion in assets at June 30, 1993, and more than 550 community banking offices throughout Pennsylvania, Delaware, Ohio, Kentucky and Indiana. PNC Bank's major lines of business include retail banking; corporate banking; investment management and trust; and investment banking. PNC Bank Corp. is headquartered in Pittsburgh.
 /delval/
 -0- 8/3/93
 /CONTACT: Jonathan Williams, media, 412-762-4550, or at home, 412-
257-3257, or William H. Callihan, investors, 412-762-8257, of PNC


Bank Corp./
 (PNC S)


CO: PNC Bank Corp.; Sears Mortgage Corporation; Sears, Roebuck and Co. ST: Pennsylvania IN: FIN SU:

CD -- PG008 -- 8982 08/03/93 14:39 EDT
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Publication:PR Newswire
Date:Aug 3, 1993
Words:189
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