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Non-Tech : How to Play the Big Savings and Loan Lawsuit
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To: Robespierre who wrote (25)7/26/1996 3:02:00 PM
From: Robespierre   of 63
 
Glendale court hearing rescheduled for August 1.

Glendale Federal Bank Comments on Fdic's Role as Plaintiff in
Goodwill Cases

GLENDALE, July 24 /PRNewswire/ -- Stephen J. Trafton, chairman and chief executive officer of
Glendale Federal Bank (NYSE: GLN) this afternoon commented on the announcement today by the
Federal Deposit Insurance Corporation (FDIC) that it intends to appear as a plaintiff in two actions,
and possibly others, involving supervisory goodwill that are pending in the U.S. Court of Federal
Claims.

Trafton said: "We applaud the decision of the FDIC to honor its fiduciary responsibility as receiver
of failed institutions by actively prosecuting the claims of those failed institutions that were
damaged by the government's breach of contract in respect to goodwill. We have long argued that
the Resolution Trust Corporation had an obligation to act on behalf of such failed institutions and we
fully support the action taken by the FDIC."

Trafton noted that the FDIC's action should have no impact on the prosecution of Glendale
Federal's claim for damages. At the status conference before Chief Judge Smith of the U.S. Court of
Federal Claims recently rescheduled for August 1, the bank will seek to attain an early November
trial date for determination of damages.

Glendale Federal bank is one of the largest savings institutions in the United States, serving the
business and community banking needs of Californians through 150 banking offices and 22 loan
offices.

Note: CalFed is in takeover talks.
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