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SOCIETY COMPLETES SALE OF BRANCHES TO STAR BANK

 SOCIETY COMPLETES SALE OF BRANCHES TO STAR BANK
 CLEVELAND, June 19 /PRNewswire/ -- Society Corporation


(NASDAQ: SOCI) announced today that it has completed the sale of 28 Ameritrust Company, N.A. branches in the Greater Cleveland area to Star Bank, N.A.
 The branches were sold, along with approximately $1 billion of deposits, as well as $105 million of branch-related loans. The sale of these branches, deposits, and loans was specified by an agreement reached by Society with the U.S. Department of Justice in March 1992.
 As a result of the sale today, Society will realize a pre-tax gain of approximately $12 million. Another $250 million in loans or loan participations is under consideration, and if closed, would result in a gain in excess of $5 million.
 Robert W. Gillespie, chairman and chief executive officer of Society Corporation, said consummation of the sale sets the stage for completion of the previously-announced merger of Ameritrust Company, N.A. into Society National Bank in the third quarter 1992. The merger will create Ohio's largest commercial bank with nearly $16 billion in total assets and nearly 240 offices throughout northeast, central and southwestern Ohio.
 On March 16, the merger of Ameritrust Corporation and Society Corporation was completed, creating a $25 billion super regional financial service company with major market presence in Ohio, Indiana, and Michigan and investment management and trust services operations in those states as well as Texas and Florida.
 The 28 sold branches will open under the Star name on Saturday June 20. Society and Ameritrust customers can call a toll-free telephone line, 1-800-SOCIETY, if they have questions about the branch sale or the Society/Ameritrust bank merger in the third quarter.
 As of March 31, 1992, Society Corporation has more than $24 billion in assets, $1.6 billion in equity capital, over $3.1 billion of market capitalization and more than 500 banking and trust offices in Ohio, Michigan, Indiana, Texas, Florida, New York, Colorado and Missouri. The trust business of Society ranks in the top 15 nationally in terms of revenues and managed assets. Through its affiliates, Society engages in commercial banking, consumer banking, mortgage banking and leasing, and trust and investment management services.
 -0- 6/19/92
 /CONTACT: John Fuller (Media), 216-689-4721, or Jay Gould (Analysts), 216-689-8140, both of Society Corporation/
 (SOCI) CO: Society Corporation ST: Ohio IN: FIN SU:


LC -- CL010 -- 2040 06/19/92 16:06 EDT
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Date:Jun 19, 1992
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