PERPETUAL SAVINGS <PASB.O> SETS HOLDING COMPANY
Perpetual Savings Bank said its
board has approved formation of a holding company to be
incorporated in Virginia, subject to Federal Home Loan Bank
Board and shareholder approval.
    It said its common and prefered shares would be exchanged
on a one-for-one basis for shares of the holding company,
Perpetual Financial corp.
 Reuter
