Independent Accountants' Report



Board of Directors
Camco Financial Corporation


We have reviewed the accompanying  consolidated statement of financial condition
of  Camco  Financial   Corporation  as  of  March  31,  2000,  and  the  related
consolidated  statements of earnings,  comprehensive  income, and cash flows for
the   three-month   period  then  ended.   The  financial   statements  are  the
responsibility of the Corporation's management.

We conducted our review in accordance with standards established by the American
Institute  of  Certified  Public  Accountants.  A review  of  interim  financial
information consists principally of applying analytical  procedures to financial
data and making  inquiries of persons  responsible  for financial and accounting
matters. It is substantially less in scope than an audit conducted in accordance
with  generally  accepted  auditing  standards,  the  objective  of which is the
expression of an opinion  regarding the financial  statements  taken as a whole.
Accordingly, we do not express such an opinion.

Based on our review, we are not aware of any material  modifications that should
be made to the  accompanying  financial  statements for them to be in conformity
with generally accepted accounting principles.

We have  previously  audited,  in accordance  with generally  accepted  auditing
standards,  the consolidated statement of financial condition as of December 31,
1999, and the related consolidated statements of earnings, stockholders' equity,
and cash flows for the year then ended (not presented  herein) and in our report
dated  February  18,  2000,  we  expressed  an  unqualified   opinion  on  those
consolidated financial statements.  In our opinion, the information set forth in
the accompanying  consolidated  statement of financial  condition as of December
31,  1999,  is fairly  stated,  in all  material  respects,  in  relation to the
consolidated statement of financial condition from which it has been derived.




/s/GRANT THORNTON LLP

Cincinnati, Ohio
May 12, 2000