Bay View Capital to pay deferred distributions on capital securities

New York, Dec. 23 - Bay View Capital Corp. said it will pay deferred distributions on its trust preferred capital securities.

The San Mateo, Calif. bank holding company said the payment will be made on Dec. 31 and will be $6.10 for 10 quarterly distributions and $0.67 of accrued interest.

Bay View added that it expects to send out notices to redeem the trust preferreds in January and then redeem them during the first quarter of 2003 at $25.00 per security plus accrued distributions.

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