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MELLON OFFERS NEW SMART ACCOUNTsm PRODUCT PACKAGES

 MELLON OFFERS NEW SMART ACCOUNTsm PRODUCT PACKAGES
 PITTSBURGH, Oct. 5 /PRNewswire/ -- Mellon Bank today announced that it has modified its popular relationship banking product, The Smart Accountsm, by introducing two Smart Account plans that provide customers with enhanced value for their loan and deposit relationships.
 With free and discounted services, The Smart Account, Banking Plan and The Smart Account, Bonus Plan give customers the option to match services to their banking needs. The Banking Plan, targeted to customers who use various loan products, will provide seven popular services with no annual fees, discounted service charges and reduced credit card rates when customers have combined deposit and loan balances of $5,000. The Bonus Plan, designed for customers with larger loan and deposit relationships, will offer 13 banking services with no annual fees, discounted service charges, low credit card rates, reduced loan rates and preferred rates on savings or investment products, providing customers have a $5,000 monthly balance in their checking account or $25,000 in combined deposit and loan balances.
 "By including loan balances, our new Smart Account Plans give us a competitive edge against most product packages available in this market," said Allan R. Dennison, senior vice president and market manager for Mellon Bank -- Region. "The two Smart Account packages make this valuable product more readily available to a larger segment of our customers while helping us to establish stronger client relationships. That's extremely important in today's competitive banking environment."
 The Smart Account, Banking Plan provides customers with a free checking account and unlimited basic checks; a no annual fee line of credit account; a no annual fee, low-rate (currently 13.9 percent) MasterCard or Visa credit card; free MAC transactions; free traveler's checks; and free overdraft protection. Customers have the option of paying a $12 monthly fee if they do not meet balance requirements.
 The Smart Account, Bonus Plan provides customers with a personal banker to help manage their banking relationship and several services, including free checking and free special design checks; preferred savings or investment rates; no-annual-fee line of credit; reduced APR on one loan or line of credit; a Gold MasterCard with no annual fee and low-rate (currently 13.9 percent); free MAC transactions; free traveler's checks; free standard-size safe deposit box; free cashier's checks; free telephone bill-paying; free overdraft protection; and a 10 percent discount on Mellon's discount brokerage service, InvestNet. Customers have the option of paying a $15 monthly fee if they do not meet balance requirements.
 Accounts which are eligible to meet balance requirements include all checking, savings and money market accounts; time deposits; direct installment loans, including home equity; and lines of credit.
 Mellon began offering the product at all of its offices today. Television and newspaper advertising promoting the new product package began October 4. Current customers who meet the balance levels for The Smart Account, Banking Plan and Bonus Plan are receiving informational mailings that provide details of their eligibility.
 Mellon Bank, N.A. is the largest bank in Pennsylvania, serving a seven-county retail and commercial market through its Western Region with more than 125 offices which provide a broad range of products and services to meet the financial needs of consumers and small businesses. Mellon Bank, N.A. offers highly convenient banking service to customers through its network of ATMs; the geographic breadth of branch locations, including seven-day banking at 18 Giant Eagle supermarkets; its Telephone Banking Center; and its Business Banking Division. Mellon offices also play an integral part in the communities they serve through their grass roots support of community organizations and events.
 With assets of approximately $30 billion, Mellon Bank Corporation (NYSE: MEL) is a major superregional bank holding company. Through its subsidiaries, it provides wholesale, middle market and retail banking as well as numerous service products including trust and investment, cash management and financial data processing.
 -0- 10/5/92
 /CONTACT: J.T. Tuskan of Mellon Bank, 412-234-0850/
 (MEL) CO: Mellon Bank Corporation ST: Pennsylvania IN: FIN SU: PDT


CD -- PG008 -- 6372 10/05/92 07:45 EDT
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Date:Oct 5, 1992
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