Closed End Trusts Receive Settlement Proceeds.CHARLOTTE, N.C.--(BUSINESS WIRE)--May 7, 1996--Nations Government Income Term Trust 2003, Inc. and Nations Government Income Term Trust 2004, Inc. (the "Companies") received today cash contributions from NationsBank NationsBank was one of the largest banking corporations in the United States, based in Charlotte, North Carolina. In 1998, it acquired BankAmerica to become Bank of America. Corporation which total $20,002,000. These contributions are a part of the final settlement in the class action, Ivy Shipp, et al. v. NationsBank Corporation, et al., and are allocated to the Companies in the amounts of $11,201,120 and $8,800,880, respectively. As stipulated in the settlement documents, these proceeds will be invested in US Treasury securities maturing at, or as near as practical to, the date of the scheduled termination of the Companies. An additional amount of approximately $4 million has been paid into a Settlement Fund to compensate certain class members who purchased shares of the Companies before January January: see month. 25, 1995 and realized losses Realized Loss A loss recognized when assets are sold for a price lower than the original purchase price. Notes: A portion of the realized loss may be applied against a capital gain or realized profit to reduce taxes. from the sale of some or all of those shares on or before December 8, 1995. CONTACT: NationsBank Corporate Communications Corporate communications is the process of facilitating information and knowledge exchanges with internal and key external groups and individuals that have a direct relationship with an enterprise. Ellison Clary clary: see sage. , 704/386-8633 |
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