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SHAREHOLDERS OF HOME FEDERAL SAVINGS BANK APPROVE MERGER WITH KEYCORP

 ALBANY, N.Y. March 30 /PRNewswire/ -- Shareholders of Home Federal Savings Bank ("Home Federal") today voted in favor of an acquisition of Home Federal by KeyCorp (NYSE: KEY). Home Federal, a Fort Collins, Colorado-based thrift institution, has approximately $175 million in deposits, $200 million in loans, and $250 million in total assets. Its four branches are situated between Denver, Colorado and Cheyenne, Wyoming. Cheyenne is the headquarters for Key Bank of Wyoming.
 The exact amount and form of consideration are subject to change based on the market price of KeyCorp common stock in a pricing period ending three trading days prior to the completion date of the merger. However, KeyCorp management's current expectation is that approximately 470,000 to 500,000 KeyCorp common shares will be issued to acquire Home Federal.
 The transaction is still subject to approval by the Federal Deposit Insurance Corporation and the Federal Reserve Bank of New York.
 Victor J. Riley, Jr., KeyCorp's chairman, president and chief executive officer commented, "We are pleased with the approval of our merger proposal by the Home Federal shareholders. This takes us one step further toward consummation of the transaction, which we hope to complete by the end of this year's second quarter."
 KeyCorp (NYSE: KEY), with assets over $30 billion, is a multi- regional bank holding company headquartered in Albany, N.Y. It has focused its banking expansion activities in the Northeast and Northwest. As "America's neighborhood bank," KeyCorp pursues a middle-market target concentrating its resources in cities and smaller communities of the northern tier of states, thus avoiding overcrowded marketplaces and single industry loan exposure.
 -0- 3/30/93
 /CONTACT: Lee Irving, 518-486-8579, or 518-479-3273, after hours; or Susan Peterson, 518-486-8258, or 518-587-3008, after hours, both of KeyCorp/
 (KEY)


CO: KeyCorp; Home Federal ST: New York; Colorado IN: FIN SU: TNM

SM -- CL010 -- 1077 03/30/93 13:13 EST
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Publication:PR Newswire
Date:Mar 30, 1993
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