FIRST FEDERAL FORT MYERS &lt;FFMY> TO MAKE PURCHASE

  First Federal Savings and Loan
  Association of Fort Myers said its board has executed a letter
  of intent to acquire First Presidential Savings and Loan
  Association of Sarasota, Fla., for 8,500,000 dlrs in cash.
      The company said a definitive agreement is expected to be
  executed by May 15 and the transaction is expected to be
  completed by year-end.
      The purchase price is subject to an increase on a dollar
  for dollar basis to the extent that the net worth of First
  Presidentail exceeds 4,100,000 dlrs at the time of closing, the
  company said.
  

