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WELLS FARGO AND CALPERS ANNOUNCE PLANS FOR RESIDENTIAL DEVELOPMENT PROGRAM

 WELLS FARGO AND CALPERS ANNOUNCE PLANS
 FOR RESIDENTIAL DEVELOPMENT PROGRAM
 WHAT: California Public Employees Retirement System (CalPERS)
 and Wells Fargo Bank will announce plans for the first new
 residential development under the CalPERS California
 Housing Program. Wells Fargo Bank President Paul Hazen,
 will discuss how California homebuilding is a
 fundamentally sound business investment.
 A new Wells Fargo/CalPERS partnership will move the
 development forward with financial commitments of
 $75 million from CalPERS and $7.5 million from Wells
 Fargo.
 State Treasurer Kathleen Brown and State Controller Gray
 Davis will discuss the economic benefits expected from the
 CalPERS investment in housing.
 Randall Lewis, executive vice president, Lewis Homes, one
 of California's largest builders will discuss the various
 aspects of the new development. The residential
 development of 129 single-family detached homes will
 create entry-level housing opportunities for first-
 time buyers. The project cost for the Rancho Cucamonga
 site is $22.5 million. The first 25 homes are expected to
 be available for sale in early 1993.
 WHEN: Monday, June 22, 1992
 2 p.m.
 WHERE: Sacramento Club
 Wells Fargo Building
 400 Capitol Mall
 6th Floor, Suite 600
 Sacramento
 INTERVIEW/PHOTO OPPORTUNITIES:
 Gray Davis, State Controller
 Kathleen Brown, State Treasurer
 Dr. William Crist, president, CalPERS Board
 Dewitt Bowman, chief investment officer, CalPERS
 Randall Lewis, executive vice president, Lewis Homes
 Paul Hazen, president, Wells Fargo Bank
 J. Michael Johnson, vice president, Wells Fargo Realty
 Advisors
 CONTACT: Dan Conway of Wells Fargo Bank, 415-396-3606.
 -0- 6/19/92


CO: Wells Fargo Bank; California Public Employees Retirement System ST: California IN: FIN SU:

MC-RM -- SF006 -- 2058 06/19/92 16:25 EDT
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Publication:PR Newswire
Date:Jun 19, 1992
Words:266
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