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SOCIETY CORPORATION RECEIVES ALL APPROVALS TO COMPLETE MERGER WITH AMERITRUST ON MARCH 16

 SOCIETY CORPORATION RECEIVES ALL APPROVALS
 TO COMPLETE MERGER WITH AMERITRUST ON MARCH 16
 CLEVELAND, March 13 /PRNewswire/ -- Society Corporation (NASDAQ: SOCI) announced today that it has received all of the necessary legal and regulatory clearances for its merger with Ameritrust Corporation (NASDAQ: AMTR). The merger of Ameritrust into Society will be completed on Monday, March 16.
 Earlier today, it was announced that Society had reached agreement with the United States Department of Justice regarding appropriate divestitures by Society to resolve Justice's concerns regarding the competitive impact of the proposed merger.
 A complaint and a proposed consent decree encompassing the agreement between Society and Justice were filed with the Federal District Court in Ohio today along with a request that the Court approve Ameritrust and Society proceeding with the merger. This approval was granted by the Court. The merger is not dependent upon the Court accepting the consent decree; that decree under Federal statutes, cannot be accepted by the Court for a period of 60 days.
 Society further announced that Ameritrust's lead bank has entered into an agreement to sell to Star Bank N.A., Star Banc Corporation's (NASDAQ: STRZ) lead bank, the package of branches, deposits and loans specified by the agreement with the Justice Department. The agreement is subject to the merger of Society and Ameritrust. Star is a bank holding company headquartered in Cincinnati.
 As a result of these agreements, Society will sell to Star 28 Ameritrust branches located in Cuyahoga and Lake counties, Ohio, along with approximately $1 billion of deposits and loans or loan participations (including some loans that are not required by the terms of the agreement with the Department of Justice) totaling approximately $400 million. Society expects to realize a pre-tax gain of approximately $20 million on the sale.
 Under the terms of the merger agreement with Ameritrust, Ameritrust common stockholders will receive .65 of a Society Corporation common share for each share of Ameritrust Common Stock. The outstanding preferred stock of Ameritrust will be exchanged for a comparable newly created issue of Society preferred. The merger will be tax-free to Ameritrust stockholders and will be accounted for as a pooling of interests. Stockholders of both bank holding companies voted to approve the merger Jan. 29 and the Federal Reserve Board approved the merger on Feb. 13.
 When the merger is completed, Society will be a $25 billion super regional financial services company with major market presence in Ohio, Indiana and Michigan and trust and investment management operations in those states as well as in Texas and Florida.
 Star Bank, N.A. locations being acquired from Ameritrust:
 Name Address
 BP America 200 Public Square, Cleveland
 Bedford 680 Broadway, Bedford
 Berea 118 Front St., Berea
 Broadview-Pearl 4175 Pearl Road, Cleveland
 Brookpark-Broadview 2132 Brookpark Road, Cleveland
 Cedar-Lee 2211 Lee Road, Cleveland Heights
 Clark-25th 3104 W. 25th St., Cleveland
 Detroit-Columbia 25653 Detroit Road, Westlake
 Eastgate 1485 SOM Center, Mayfield Heights
 Emery-Richmond 25890 Emery Road, Warrensville Hts.
 Euclid-97th 9701 Euclid Ave., Cleveland
 Euclid-260th 25811 Euclid Ave., Euclid
 Food Terminal 4100 Woodland Ave., Cleveland
 Franklin-25th 1720 W. 25th St., Cleveland
 Galleria 1301 E. Ninth St., No. 100, Cleveland
 Garfield Heights 5007 Turney Road, Garfield Heights
 Independence 4500 Rockside Road, Independence
 Lakeshore-264th 26410 Lake Shore Blvd., Euclid
 Lorain-98th 9740 Lorain Ave., Cleveland
 Mentor East 9572 Mentor Ave., Mentor
 Puritas-150th 4423 W. 150th St., Cleveland
 Ridge-Biddulph 6610 Biddulph Road, Brooklyn
 Shaker Square 13117 Shaker Square, Cleveland
 Southgate 5384 Northfield Road, Maple Heights
 Strongsville 14444 Pearl Road, Strongsville
 Terminal Prospect Prospect & Ontario Streets, Cleveland
 Willoughby 4098 Erie St., Willoughby
 Wilson Mills-Richmond 5134 Wilson Mills, Richmond Heights
 -0- 3/13/92
 /CONTACT: John Fuller (media), 216-689-8140, or Eric Rasmussen, (analysts), 216-689-7161, both of Society Corporation/
 (SOCI) CO: Society Corporation ST: Ohio IN: FIN SU: TNM


KK -- CL007 -- 7788 03/13/92 12:04 EST
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Publication:PR Newswire
Date:Mar 13, 1992
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