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ASB CAPITAL MANAGEMENT TO REMAIN INDEPENDENT UNDER NEW PARENT NATIONSBANK

 CHARLOTTE, N.C., July 26 /PRNewswire/ -- NationsBank Corporation (NYSE: NB) announced today that ASB Capital Management will continue to operate as an independent SEC-registered investment manager under its new parent company.
 Shareholders approved the NationsBank purchase of Baltimore-based MNC Financial, Inc., and its subsidiary, Washington-based ASB Capital Management, earlier this year.
 "ASB Capital Management's operations will not be changed in any respect," said James B. Sommers, president of NationsBank Trust. "The company has an extremely successful record, and we see no reason to alter the operation."
 Charles G. Smith IV, executive vice president at NationsBank Trust and director of the Investment Management Group, added: "ASB Capital Management has grown over the past 10 years from $2.3 billion to $11.1 billion assets under management. That's impressive growth, and we expect the firm to continue to expand as an independent part of the NationsBank Investment Management Group."
 Terence Collins, president of ASB Capital Management, agreed: "We appreciate the confidence NationsBank has given us, and we expect the purchase to have a very positive effect on our company. While we continue to operate independently, we will have access to a wide range of new resources available to us through one of the most innovative, aggressive and well-managed companies in the financial industry."
 ASB Capital Management is the largest national investment advisory firm in the Washington area, with $11.1 billion in assets under management. Its more than 180 clients include public funds, associations, endowments and foundations.
 NationsBank Trust is among the 10 largest trust banks in the United States with more than $48 billion in assets under management.
 NationsBank is fifth-largest banking company in the United States with $124 billion in assets and full-service banking centers in nine states and the District of Columbia.
 -0- 7/26/93
 /CONTACT: Katy Pike of NationsBank, 404-607-5230/
 (NB)


CO: NationsBank Corporation; ASB Capital Management ST: North Carolina, District of Columbia IN: FIN SU:

BR-BN -- AT003 -- 5569 07/26/93 09:48 EDT
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Publication:PR Newswire
Date:Jul 26, 1993
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