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Highland Bancorp to Merge With Jackson Federal Bank

August 15, 2000

Highland Bancorp Inc., parent company of Highland Federal Bank, announced it has agreed to merge with Jackson Federal Bank. Jackson will acquire Highland for $25.45 cash per share of Highland stock.

Jackson Federal Bank in San Bernardino is a wholly owned subsidiary of Jackson National Life Insurance Company in Lansing, Mich., which is in turn a wholly owned subsidiary of Prudential of England.

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