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BANK OF BOSTON DOUBLES ITS SHAREHOLDER SERVICES BUSINESS

 BANK OF BOSTON DOUBLES ITS SHAREHOLDER SERVICES BUSINESS
 BOSTON, April 20 /PRNewswire/ -- Bank of Boston (NYSE: BKB) announced today that it has been appointed stock transfer agent for NYNEX Corporation (NYSE: NYN).
 The decision follows an earlier appointment by Pacific Telesis Group (NYSE: PAC). NYNEX and Pacific Telesis are among the world's leading providers of telecommunications services.
 The appointments by New York-based NYNEX and San Francisco-based Pacific Telesis represent the two largest accounts in Bank of Boston's 100-year history of providing shareholder services. Combined, these two companies will effectively double Bank of Boston's shareholder services business, increasing the number of shareholder accounts to a total of 4.7 million.
 The appointments came after American Transtech, an AT&T subsidiary, announced its decision last summer to exit the shareholder services business. Since that time, the seven regional holding companies have reviewed several options for servicing their extremely large shareholder bases. NYNEX, which has over one million shareholders, recently awarded its contract following a competitive bidding and review process of the country's leading stock transfer agents. NYNEX was the final regional holding company to appoint a successor stock transfer agent.
 "We are enthusiastic about NYNEX's and Pacific Telesis' decisions and look forward to a long-lasting and highly productive relationship with both companies," said Ira Stepanian, chairman and chief executive officer of Bank of Boston. "We are very proud of the high quality of services we offer in this specialized industry, and we feel honored to win these accounts."
 Utilizing its proprietary Delta Vantage technology, its $13 million Canton facility, and "Just-In-Time" operating philosophy, Bank of Boston will provide a host of core transfer agent and registrar services for NYNEX and Pacific Telesis, including: annual meeting planning, proxy tabulation, dividend disbursement, and reinvestment, abandoned property reporting, employee stock purchase plan processing, and stock option issuances. "This additional business will create over 100 new jobs in our Canton facility," added Stepanian.
 The Securities Department is part of Bank of Boston's Global Banking Group. From its Canton, Mass., offices, Bank of Boston offers state-of-the-art securities processing for Shareholder Services, Corporate Agency and Reorganization, Corporate Trust, Institutional and Master Trust Services and Worldwide Custody. Bank of Boston is recognized nationally as a leader in shareholder and investor services.
 Bank of Boston Corporation, with assets of $32.7 billion at Dec. 31, 1991, is a New England-based superregional bank holding company with both national and international operations. Its major banking subsidiaries are The First National Bank of Boston, headquartered in Massachusetts; Casco Northern Bank, N.A., in Maine; Bank of inancial services to individual, corporate, institutional and governmental customers, as well as to other banks. The corporation's common and preferred stocks are listed on the New York and Boston exchanges.
 -0- 4/20/92
 /CONTACT: Connie Hubbell of Bank of Boston, 617-434-6883; or Sean Healy of NYNEX Corporation, 914-644-7250; or Bill Strawn of Pacific Telesis Group, 415-394-3643/
 (BKB NYN PAC) CO: The Bank of Boston; NYNEX; Pacific Telesis Group ST: Massachusetts IN: FIN SU:


TM-DD1005 -- NE007 -- 9960 04/20/92 10:41 EDT
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Publication:PR Newswire
Date:Apr 20, 1992
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