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AFFILIATED OF COLORADO JOINS BANC ONE CORPORATION

 AFFILIATED OF COLORADO JOINS BANC ONE CORPORATION
 COLUMBUS, Ohio, Nov. 2 /PRNewswire/ -- Banc One Corporation


(NYSE: ONE) announced today that it has completed the affiliation of Affiliated Bankshares of Colorado, Inc., headquartered in Denver. The announcement was made by John B. McCoy, chairman and chief executive officer of Banc One, and Ronald L. Moore, chairman, president and CEO of Affiliated, which has become Banc One Colorado Corporation. Banc One Colorado has assets of $2.8 billion, and operates six affiliate banks with 43 banking centers throughout Colorado.
 Terms of the agreement called for the exchange of .726 shares of Banc One common stock for each share of Affiliated Bankshares common stock and the exchange of 3.025242 shares of Banc One common stock for each share of Affiliated preferred stock. Total value of the transaction is approximately $404 million, based on the closing price of Banc One common stock on the New York Stock Exchange on Oct. 30, 1992.
 Moore said, "We are delighted to become part of the growing Banc One family of banks. We consider Banc One to be the premier banking organization in the United States. Affiliating with Banc One will enable us to continue our tradition of serving our communities and our customers in Colorado in a superior fashion."
 Banc One Corporation had assets of $51.2 billion as of Sept. 30, 1992 and total equity of $4.5 billion. Banc One operates 63 banks, with 948 offices in Colorado, 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, brokerage, equipment leasing, mortgage banking, consumer finance and insurance.
 -0- 11/2/92
 /CONTACT: John Russell of Banc One Corporation, 614-248-5989, or Warren Moore of Banc One Colorado, 303-296-7788/
 (ONE) CO: Banc One Corporation; Affiliated of Colorado ST: Ohio, Colorado IN: FIN SU: TNM


KK -- CL016 -- 1684 11/02/92 14:38 EST
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Publication:PR Newswire
Date:Nov 2, 1992
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