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THE BANK OF NEW YORK COMPANY FILES 8 MILLION SHARE COMMON STOCK OFFERING

 THE BANK OF NEW YORK COMPANY FILES
 8 MILLION SHARE COMMON STOCK OFFERING
 NEW YORK, May 21 /PRNewswire/ -- The Bank of New York Company, Inc. (NYSE: BK) announced today the filing of a registration statement with the Securities and Exchange Commission covering the public offering of eight million shares of common stock. The proposed offering will be managed by Goldman, Sachs & Co., Merrill Lynch & Co., Morgan Stanley & Co. Incorporated, and Dean Witter Reynolds Inc. The underwriters will be granted an option to purchase up to an additional 1.2 million shares to cover over-allotments.
 Approximately $150 million of the net proceeds from the sale of the shares will be used to support the proposed acquisition, previously announced, of


substantially all of the banking activities of Barclays Bank of New York, N.A. The balance of the proceeds will be used for general corporate purposes.
 The Bank of New York Company, Inc. is one of the largest bank holding companies in the country, with total consolidated assets of $40.1 billion at March 31, 1992. The company provides a complete range of banking and other financial services to corporations and individuals worldwide through its five basic businesses: corporate banking, retail banking, securities processing, trust and investment management and financial market services.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
 -0- 5/21/92
 /CONTACT: Michael M. Pascale, 212-495-1041, or Pierre S. Brull, 212-495-1721, or Margaret W. Southerland, 212-495-1725, all of The Bank of New York/
 (BK) CO: Bank of New York Company, Inc. ST: New York IN: FIN SU: OFR


LR -- NY063 -- 2840 05/21/92 12:35 EDT
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Publication:PR Newswire
Date:May 21, 1992
Words:357
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