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NEW ISSUE July 14,1981 First Federal Savings and Loan Association of Front Royal
90,318 SHARES
COMMON STOCK
* $5.50 per share Copies of the Preliminary Offering Circular may be obtained by contacting First Federal Savings and Loan Association. Contact: David B. Boyles, Jr. First Federal Savings and Loan Association of Front Royal P. O Box 1400 Front Royal, Virginia 22630 (703) 635-4112 or (703) 662-1845
95.4%