Banc One Plans to Market Credit Cards in U.K.; Cardiff Office to Employ 1,000 Within Five Years.

COLUMBUS, Ohio--(BUSINESS WIRE)--Sept. 17, 1998--BANC ONE CORPORATION (NYSE:ONE) today announced plans to begin marketing credit cards in the United Kingdom by year-end 1998 under the trade name Bank One International.

Bank One International will open an operations center in Cardiff, Wales, and a business development office in London. The U.K. credit cards will be issued by The First National Bank of Chicago, a subsidiary of First Chicago NBD Corporation (NYSE:FCN), which plans to merge with BANC ONE CORPORATION in October 1998. Bank One International announced plans to expand into Canada earlier this month.

John B. McCoy, chairman and chief executive officer of BANC ONE CORPORATION, said, "As our credit card business expands into international markets, the U.K. is a logical first choice in Europe because of the many common characteristics of U.K. and U.S. markets. We look forward to serving U.K. consumers with the same superior pricing, excellent features and customer service that U.S. consumers have enjoyed from Bank One for years." Bank One International will market Visa and MasterCard credit cards in the U.K. under its own brand and in conjunction with affinity and co-brand partners.

Patrick M. Blewett, president of Bank One International, said the Cardiff operations center will be located in space at the Grosvenor Waterside development on Cardiff Bay. Bank One International will complete custom-designed facilities in the same area in the Spring of 2000. Blewett said the Cardiff offices will employ 100 initially, growing to 270 by year-end 1999 and to 1,000 within five years. He said Bank One will be hiring for jobs in all aspects of the credit card business, including full-time finance, accounting, customer service, credit, risk management, customer support, training and supervisory positions.

"The Cardiff business community has a level of vitality and enthusiasm that is an excellent match for Bank One's positive, upbeat culture," said Blewett. "We considered a number of excellent locations for our U.K. operations, but Cardiff clearly offered the best combination of high-quality work force, quality-of-life features and infrastructure. We believe the many qualities of the Cardiff area will benefit our ability to attract the best talent for our immediate needs and as the business grows."

Employment advertising will begin September 23, 1998, with hiring expected to begin in late September. All employees will receive Bank One International's benefits package and will participate in Bank One International's training programs. Qualified individuals interested in applying for positions with Bank One International should call 0171-814-5918. Firms seeking a business relationship with Bank One International should correspond via e-mail at: [e-mail].

BANC ONE CORPORATION had managed total assets of $159 billion, total assets of $124 billion, and common equity of $11.6 billion at June 30, 1998. BANC ONE operates over 1,500 banking centers in 12 states. BANC ONE also owns several additional corporations that engage in a full range of financial services. Information about BANC ONE's financial results and its products and services can be accessed on the Internet at: http://www.bankone.com; through InvestQuest at: http://www.investquest.com; or through Fax-on-demand in the U.S. at 614/844-3860.

BANC ONE CORPORATION's credit card operation in the U.S. is carried out by its subsidiary First USA, a financial services company specializing in the credit card business and ranking among the largest issuers of Visa and MasterCard credit cards in the United States. First USA offers hundreds of credit card products under its own name, under the Bank One brand, and on behalf of more than 1,300 partners including major corporations, universities, financial institutions, sports franchises, airlines, Internet providers and cause-related organizations. First USA's credit card partners include BP, America Online, Yahoo!, University of Notre Dame, World Wildlife Fund, New York Life, U.S. Soccer, Southwest Airlines, PGA TOUR, and Merrill Lynch. First USA had approximately $41.6 billion in credit card loans outstanding and 43 million cards issued at June 30, 1998. Richard W. Vague is chairman and chief executive officer of First USA.

The First National Bank of Chicago, through its London branch, will issue credit cards under the trade name Bank One International and service the associated accounts pursuant to an agreement with BANC ONE and First USA.