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A.E. STALEY CHAIRMAN ANNOUNCES RESIGNATION FROM FIRST OF AMERICA BOARD OF DIRECTORS

 DECATUR, Ill., Jan. 7 /PRNewswire/ -- Management of First of America Bank-Decatur, N.A. announced today that A.E. Staley Manufacturing Company Chairman Robert M. Powers has resigned from the board of directors of the bank. A.E. Staley is currently involved in an ongoing labor dispute with its union, Allied Industrial Workers Local 837. The union previously called for a boycott of First of America in protest of Powers' position as a director.
 In a statement provided to First of America, Powers said, "I have resigned from the board of directors of First of America Bank-Decatur, N.A. to make a clear statement that First of America Bank has nothing to do with the labor issue at Staley and has had no influence on it. First of America Bank remains an innocent bystander which has been unfairly discriminated against by the union. Once we cut through the many distractions which the union has raised, the real issue remains that changes must be made in the work practices in Staley's Decatur plant for it to survive."
 Philip C. Wise, president and CEO of First of America Bank-Decatur, said, "We are disappointed that this situation escalated to the point that Mr. Powers resigned from the board. First of America has made it clear all along that we have absolutely no involvement or influence on the policies of A.E. Staley or the union. We expect that this will end First of America's needless involvement in this matter."
 -0- 1/7/93
 /CONTACT: Tony Thompson, First of America Bank Corporation public relations manager, 616-376-7266/
 (FOA)


CO: First of America Bank-Decatur, N.A.;
 A.E. Staley Manufacturing Company ST: Illinois IN: FIN SU: PER


SB -- DE018 -- 2674 01/07/93 12:21 EST
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Publication:PR Newswire
Date:Jan 7, 1993
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