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To: xcr600 who wrote (118)	4/14/1999 11:58:00 PM
From: Patherzen	Read Replies (1) \| Respond to of 737

All cash transaction... City National Bank Completes North American Trust Co. Acquisition BusinessWire, Sunday, January 03, 1999 at 12:18 SAN DIEGO--(BUSINESS WIRE)--Jan. 3, 1999--City National Bank, a subsidiary of City National Corp. (NYSE:CYN), Sunday announced that it completed its $11.5 million acquisition of North American Trust Co. on Dec. 31, 1998. Following regulatory approval in early December, City National completed the acquisition through an all-cash transaction with London Pacific Group (NASDAQ:LPGLY) (London Stock Exchange:LPG), of which North American Trust Co. was an indirect subsidiary. With this acquisition, City National has merged North American Trust Co. into City National Investments, the trust and investments division of City National Bank. City National Investments' total assets under management and administration are now more than $15 billion. "This is an important investment by City National to provide the clients of City National Investments, North American Trust and the greater San Diego business community with the finest trust, custody and investment products and services in Southern California," said Russell Goldsmith, City National Bank chairman and chief executive officer. "This merger adds outstanding people and services to our highly successful City National Investments division and further strengthens our commitment to San Diego," said Vern Kozlen, executive vice president and manager of City National Investments. "We look forward to providing our brand of world-class financial products and services to professionals, successful individuals and to small to midsize businesses within these dynamic economic markets." Among the new services that City National Investment customers will receive as a result of the acquisition are enhanced 401(k) offerings, including individual directed accounts, common trust funds and enhanced participant record-keeping capabilities. City National will retain the former North American Trust offices at 225 Broadway in downtown San Diego. The acquisition of North American Trust highlights City National Bank's continued growth in San Diego County. In addition to its regional headquarters in the Golden Triangle, the bank opened a Carlsbad banking office this year and opened its new Symphony Towers banking offices in downtown San Diego in December. The premier business and private bank in Southern California, City National Bank is a federally chartered, $5.9 billion commercial bank. City National Bank now has 39 offices throughout Los Angeles, Orange, San Diego, Riverside and Ventura counties. City National Corp. is a publicly owned corporation whose stock is traded on the New York Stock Exchange under the symbol CYN. For more information about City National, call the company's Fax-On-Demand Information Service at 800/873-5293, or visit City National's Web page at cityntl.com.