Bank of Boston receives ISO 9000 certification for international safekeeping services.

BOSTON--(BUSINESS WIRE)--Sept. 27, 1995--Bank of Boston Corp. today announced it has received ISO 9000 certification for its international safekeeping services.

In doing so, Bank of Boston becomes the first bank in South America -- and one of less than 10 banks worldwide -- to be granted this standard-of-quality certification. Bank of Boston, with over $8 billion in assets in South America, is the largest U.S. bank in Brazil, the second-largest foreign bank in Argentina, and the second-largest U.S. bank in Chile.

International safekeeping is a banking service in which the bank acts as a foreign investor's attorney, liquidator and representative for operations such as securities and stock brokerage. The bank is responsible to ensure that all local rules and regulations are meticulously followed.

ISO certification is a model for quality assurance for design, development, production, installation and service. The ISO certification process reviews the management function within an organization; therefore, the evaluation is identical for all industries. The ISO certification board evaluates the management system in place to assure quality. This evaluation is based on stringent standards, under which specific rules fall.

"ISO 9000 certification is fundamental in a world where economic relations are taking on global dimensions," said Henrique de Campos Meirelles, president of Banco de Boston in South America. "Being a holder of the certificate is, in essence, like having a passport to enter today's increasingly demanding and competitive global environment. When used well, the ISO 9000 standards are excellent guidelines for preparing a quality assurance system that can be both widely accepted and highly marketable in major world markets."

The ISO 9000 certificate was issued by the American Bureau of Shipping Quality Evaluation, the leading, internationally recognized accreditation organization. As a holder of the certificate, Bank of Boston joins an elite group of banks with ISO 9000 certification, including the Swiss Bank, Switzerland; Bank of Germany, Munich; and Standard Chartered Bank of Hong Kong.

Charles K. Gifford, chairman of Bank of Boston, added, "ISO 9000 certification is a good measure of company's ability to deliver the highest quality of services because it's an internationally standardized process. Any company, regardless of industry, has to meet the same rigorous management requirments to hold the certificate. Bank of Boston actively pursued ISO 9000 certification to demonstrate to current and potential customers the bank's commitment to providing the highest-quality products and services."

Bank of Boston Corp. (NYSE:BKB), with assets of $45.3 billion as of June 30, 1995 is one of the top 20 banks in the nation. New England's only global bank, Bank of Boston offers comprehensive personal, corporate and global banking through a network of 500 offices across the United States and through more than 100 offices in 24 countries around the world, the third-largest overseas network of any United States bank. The corporation's common and preferred stocks are listed on the New York and Boston stock exchanges.

CONTACT: Bank of Boston Corp., Boston

Edward J. Russell, 617/434-6883