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NATIONSBANK TO INVEST IN COMMONWEALTH NATIONAL BANK OF MOBILE

 ATLANTA, March 18 /PRNewswire/ -- NationsBank (NYSE: NB) announced today it will invest $350,000 in Commonwealth National Bank of Mobile, Ala., a minority-owned bank with $8.5 million in assets.
 The investment is subject to various regulatory approvals.
 In return for its investment, NationsBank will receive newly authorized, non-voting common stock, or non-voting, non-convertible preferred stock, or a combination of both in Commonwealth.
 The agreement allows additional investments to be made by NationsBank. However, it also says NationsBank cannot own 50 percent or more of Commonwealth.
 NationsBank will not be represented on Commonwealth's board of directors and will have no role in the management of the company. However, NationsBank will provide correspondent banking services.
 "We at NationsBank believe there is an important place and a vital role for well-run minority-owned banks," said Milton Jones, financial support executive for the General Bank of NationsBank. "We look forward to helping this one be successful."
 Edward Dolby, consumer banking executive for NationsBank of North Carolina, described the NationsBank investment as "a good example of how a relationship between a large business and a small business can produce positive results."
 Commonwealth has one banking office in Mobile. NationsBank is the fourth-largest bank in the United States with $118 billion in assets and more than 1,700 banking centers in nine states and the District of Columbia.
 -0- 3/18/93
 /CONTACT: Scott Scredon of NationsBank, 404-607-5225, or Alpha Johnson of Commonwealth National Bank, 205-476-5938/
 (NB)


CO: NationsBank Corporation; Commonwealth National Bank of Mobile ST: Alabama IN: FIN SU:

BN-BR -- AT002 -- 7375 03/18/93 10:12 EST
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Publication:PR Newswire
Date:Mar 18, 1993
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