LOS ANGELES -- California Federal Bank said about 93%, or 12.9 million, of its common stock warrants were exercised, yielding about $23 million in new capital.

The thrift company had issued 13.9 million common stock warrants to shareholders in December 1992.

With the exercise of the warrants last month - one share in exchange for $9 and five warrants - about 2.6 million new common shares were issued, increasing the total outstanding to about 49.2 million. The briefs were compiled from staff and wire reports.

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