Thrift merger completed.

PHILADELPHIA--(BUSINESS WIRE)--Jan. 9, 1997--

St. Edmond's Federal Savings Bank, Philadelphia and Keystone

Savings & Loan Association of Philadelphia and Malvern

complete previously announced merger

St. Edmond's Federal Savings Bank,

Philadelphia and Keystone Savings & Loan Association of Philadelphia and Malvern announced Jan. 9, 1997, that they have obtained all necessary regulatory approvals to their previously announced merger transaction and have completed the merger of the two thrift institutions.

St. Edmond's with over $77 million in assets is located at 1901-03 E. Passyunk Ave., Philadelphia. Keystone Savings with over $14 million in assets operated two branches at 10 Liberty Blvd., Malvern and 208 W. Chelten Ave., Philadelphia.

The surviving intuition is St. Edmond's Federal Savings Bank with combined assets of over $90 million.

John T. Coleman, president and chief executive officer of St. Edmond's Federal Savings Bank stated that "completion of this merger provides St. Edmond's Federal Savings Bank with the opportunity to expand our customer base beyond our traditional South Philadelphia market and will enhance the ability of the present Keystone branches to provide quality banking services."

CONTACT: St. Edmond's Federal Savings Bank

John T. Coleman, president, 215/468-1700, ext. 222

fax: 215/462-7027

or

Liberty Merchant Group

William E. Iorio, chairman, 610/293-0533,

fax: 610/293-0550