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FDIC AWARDS BANC ONE $944 MILLION LIQUIDATION CONTRACT

 FDIC AWARDS BANC ONE $944 MILLION LIQUIDATION CONTRACT
 COLUMBUS, Ohio, Feb. 13 /PRNewswire/ -- Banc One Corporation (NYSE: ONE) announced that the FDIC has awarded Banc One Management and Consulting Corporation a five-year contract to manage the liquidation of $944 million in a pool of loans and foreclosed assets. The pool includes assets from seven failed financial institutions in New Hampshire. The announcement was made by Steven V. Boswell, president and chief executive officer of Banc One Management and Consulting Corporation.
 Boswell also announced that in the interim Paul L. Dees, a senior vice president of Banc One Management and Consulting Corporation, has been appointed the pool's acting manager, and would be opening an office in Manchester, N.H. Dees had previously been the regional manager of Banc One Management and Consulting Corporation's affiliate, Bonnet Resources Corporation, in Austin, Texas. Dees said, "We expect to have total employment of about 200 people, and expect that 90 percent of the staff will be hired from the local New Hampshire work force." Senior staff appointments are subject to FDIC approval.
 Banc One Management and Consulting Corporation is an affiliate of Banc One Corporation. Banc One Corporation had assets of $46.3 billion including Bank One, Texas, and total common equity of $3.5 billion as of Dec. 31, 1991.
 Banc One operates 54 banks with 843 offices in Indiana, Illinois, Kentucky, Michigan, Ohio, Texas and Wisconsin. Banc One Corporation also operates several additional corporations that engage in data processing, venture capital, investment and merchant banking, trust, investment management, brokerage, equipment leasing, mortgage banking, consumer finance and insurance.
 -0- 2/13/92
 CONTACT: Paul L. Dees, 214-290-2735, or John A. Russell, 614-248-5989, both of Banc One Corporation/
 (ONE) CO: Banc One Corporation ST: Ohio IN: FIN SU: CON


KK -- CL009 -- 9604 02/13/92 09:41 EST
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Publication:PR Newswire
Date:Feb 13, 1992
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