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VALLICORP, PACIFIC BANCORPORATION DELAY MERGER VOTE TO ACCOMMODATE REGULATORY APPROVAL, STOCK VALUATION

 VALLICORP, PACIFIC BANCORPORATION DELAY MERGER VOTE
 TO ACCOMMODATE REGULATORY APPROVAL, STOCK VALUATION
 FRESNO, Calif., Oct. 5 /PRNewswire/ -- ValliCorp Holdings Inc. (NASDAQ: VALY) and Pacific Bancorporation (NASDAQ: PABC) today announced that they have delayed the stockholder vote on their proposed merger until early 1993. A stockholder vote was scheduled for Nov. 16, 1992.
 The vote was postponed to reduce the time delay between the stockholders' vote on the merger and the anticipated regulatory approval of the transaction, which is expected early to mid-1993. The delay will also allow additional time for the transaction's stock exchange ratio to be more clearly determined. Under the terms of the merger agreement, the common stock exchange ratio is based on the ultimate resolution of the disposition of certain Community First Bank assets no later than June 30, 1993. Pacific management expects that significant progress toward the disposition of these assets will be made by early 1993.
 ValliCorp Holdings Inc. is a $450 million multibank holding company with two bank subsidiaries: Bank of Fresno and Merced Bank of Commerce. ValliCorp is California's largest regional independent bank holding company headquartered in California's San Joaquin Valley. The company's common stock is traded on the NASDAQ National Market System under the symbol VALY.
 Pacific Bancorporation currently has assets of $200 million and is also headquartered in Fresno although its primary subsidiary, Community First Bank, is headquartered in Bakersfield. Pacific Bancorporation has 18 facilities throughout the San Joaquin Valley. Pacific Bancorporation stock is traded on the NASDAQ National Market System under the symbol PABC.
 -0- 10/5/92
 /EDITOR'S NOTE: To receive the latest information about ValliCorp via FAX, at no cost, call 800-PRO-INFO, code 161./
 /CONTACT: Wolfgang T.N. Muelleck, CFO and executive VP of ValliCorp, 209-221-4427; Gary Strong or Nick Farina of The Financial Relations Board (Chicago), 312-266-7800, or Lillian Armstrong of The Financial Relations Board (San Francisco) 415-986-1591, or Regina Ryan of The Financial Relations Board (New York), 212-661-8030, for ValliCorp Holdings/
 (VALY PABC) CO: ValliCorp Holdings Inc.; Pacific Bancorporation ST: California IN: FIN SU: TNM


JL -- LA020 -- 6522 10/05/92 11:09 EDT
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Date:Oct 5, 1992
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