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BANK SOUTH'S ISSUER RATING IS RAISED

 BANK SOUTH'S ISSUER RATING IS RAISED
 ATLANTA, Sept. 22 /PRNewswire/ -- The following announcement was


recently released by BankWatch, a banking industry rating service:
 "Effective immediately, BankWatch has raised the Issuer Rating of Bank South Corporation (NASDAQ-NMS: BKSO) from "D" to "C/D" reflective of the company's improved financial condition and reduction of balance sheet risk. BKSO has taken great strides in reducing its problem assets, from a high of $235 million at 9/30/91 to $155 million at 6/30/92. The reserve for loan losses provides additional comfort as reserve coverage of non-performing loans is considered ample at 91 percent. Earnings, albeit still modest, have improved through a strong net interest margin, lower provision for loan losses and good control of expenses. The new management team, headed by CEO Patrick L. Flinn, has built an infrastructure through policy changes and personnel enhancements to position the company for future growth.
 "Capital was significantly strengthened in 2Q92 through the sale of five million shares of common stock in a foreign private placement. The $41 million of proceeds will be used for general corporate purposes and to enhance capital ratios. As of June 30, 1992 equity-to-assets and equity-to-loans were 6.10 percent and 10.22 percent, respectively."
 Bank South Corporation is a $4.6 billion, two-bank holding company with 138 offices throughout Georgia and northwest Florida. Its stock is traded on the NASDAQ Exchange under the symbol BKSO.
 -0- 9/22/92
 /CONTACT: Bo Spalding of Bank South, 404-529-4238/
 (BKSO) CO: Bank South Corporation ST: Georgia IN: FIN SU:


BR -- AT001 -- 1971 09/22/92 07:34 EDT
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Date:Sep 22, 1992
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