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NATIONSBANK CORP. ANNOUNCES UNIQUE EMPLOYEE STOCK OPTION PLAN

 NATIONSBANK CORP. ANNOUNCES UNIQUE EMPLOYEE STOCK OPTION PLAN
 CHARLOTTE, N.C., April 22 /PRNewswire/ -- NationsBank Corp. (NYSE: NB) today announced a unique employee stock option plan designed to expand ownership of the company. This one-time award will encompass 7 million shares and affect nearly 55,000 employees, approximately 97 percent of all NationsBank associates.
 Emphasizing that "ownership makes a difference," the NationsBank Associates Stock Option Award was unveiled by Hugh L. McColl Jr., Chief Executive Officer, at the company's annual shareholders meeting in Charlotte.
 "This program is unprecedented in the U.S. banking industry," said McColl. "Our rationale is simple. We believe we have the best people in the business. And we want them to focus on making this the best bank in America."
 Through the program, all benefits-eligible associates, full- and part-time, below the senior vice president level will receive an option to purchase NationsBank stock. The option price will be fixed at the fair market value of NationsBank common stock at the close of trading on July 1, 1992. On that date, all eligible associates will receive an award. Beginning July 1, 1993, associates will have four years to purchase shares at the fixed option price, regardless of the fair market value of NationsBank stock.
 "Your company is committed to you, and you are vitally important to the company," McColl told associates attending the meeting and in a written message to all employees. "You can affect the stock price -- by taking care of your customers, by fully banking every customer and by looking for ways to do your job more efficiently. As owners, you have a vested interest in doing so.
 "Because you influence the value of the company," McColl said, "you will have the opportunity to realize the economic gains from your hard work."
 More than 39,000 NationsBank associates currently own shares in the company, either through the retirement savings (401K) plan or as individual investors.
 The Associates Stock Option Award is another example of the company's commitment to employees. In 1988, the company introduced its widely-acclaimed work/family programs, offering an array of family- friendly programs to its associates. In 1990, the Education Initiative was unveiled, encouraging employees to take up to two hours of paid time per week to volunteer in the schools. The company also extended its Matching Gifts program in 1990 to include a dollar-for-dollar match for employee contributions to elementary and secondary schools, in addition to colleges and universities.
 "For years, we've had a deceptively simple philosophy," McColl said. "If we take care of our people, they will take care of their customers ... and that will take care of our shareholders. By giving more and more of our people the opportunity to be shareholders, we add a whole new dimension of vigor to that already proven approach."
 Additional information on the award will be sent to all associates in late June.
 NationsBank is the fourth-largest bank holding company in the United States, with $112 billion in assets. It has approximately 1,800 banking offices in nine states and the District of Columbia.
 NationsBank executives will answer questions from the media at a news conference today at 1:30 p.m. in the 12th Floor Auditorium at NationsBank Plaza in Charlotte. Reporters wishing to participate by telephone may call (913) 749-9278 (I.D. No. NB156) to listen and ask questions. Video clips from the annual meeting will be available on two satellites beginning at 3:00 and concluding at 4:30 p.m. Television and cable stations may access the feed on C-Band, Westar 5 Transponder No. 1 or KUBand SBS 6 Transponder No. 15.
 -0- 4/22/92
 /CONTACT: Ginny S. Mackin, Corporate Communications, NationsBank Corporation, 704-386-5501/
 (NB) CO: NationsBank Corporation ST: North Carolina, Georgia, Texas IN: FIN SU: OFR


CM -- CH002 -- 1188 04/22/92 11:04 EDT
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Publication:PR Newswire
Date:Apr 22, 1992
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