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UNITED BANK EXTENDS STOCK OFFERING

 PHILADELPHIA, Feb. 17 /PRNewswire/ -- Dr. Emma C. Chappell, founder, chairman and chief executive officer of United Bank of Philadelphia, announced today that the bank's second stock offering has been extended.
 The stock is sold in blocks of 50 shares. The minimum purchase price if $600 (i.e. $12 per share x 50 shares equals $600) or multiples of $600 (i.e. $1,200, $1,800, $2,400, etc.)
 Chappell commented, "With our one-year anniversary approaching in March, we're pleased to say that we've securely established ourselves in the Philadelphia community. But, there is still a great demand for United Bank to open neighborhood branches throughout the city. To do so, we need more capital."
 Founded to meet the banking needs of all Philadelphians, with special emphasis on blacks, Hispanics and women, United Bank of Philadelphia is the first full-service, FDIC insured, black-controlled commercial bank to be chartered in Philadelphia since 1923.
 The stock offering is scheduled to close on June 30, 1993. United Bank will handle the stock sale itself. Additional information regarding the offering can be obtained by contacting the bank at 215-829-BANK(2265), or by visiting the bank at 714 Market St. Philadelphia, Pa., 19106-2397.
 /delval/
 -0- 2/17/93
 /CONTACT: Dr. Emma C. Chappell, founder, chairman and CEO of United Bank of Philadelphia, 215-829-2265/


CO: United Bank of Philadelphia ST: Pennsylvania IN: FIN SU: OFR

JS-MJ -- PH020 -- 7313 02/17/93 11:59 EST
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Date:Feb 17, 1993
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