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BARNETT KICKS OFF BASIC BANKING CAMPAIGN

 BARNETT KICKS OFF BASIC BANKING CAMPAIGN
 JACKSONVILLE, Fla., Jan. 21 /PRNewswire/ -- Barnett Bank is


launching a special marketing campaign this month aimed at specific low-to-moderate income areas of the state.
 "We hope through direct-mail efforts targeted at precise census tracts, to more effectively reach that portion of the population which traditionally has made the least use of banking services," noted James Covington, marketing director.
 The mail campaign will feature two specially tailored Barnett services:
 -- "Economy Checking", an account which provides basic-needs checking.
 -- H.O.M.E., the "Home Ownership Made Easy" program which provides more attractive and flexible financing terms for low-to-moderate income home-purchasers.
 It will also describe the availability of installment loans in amounts as low as $1,500 to qualifying applicants.
 Economy Checking provides seven checks per month for a fee of as little as $3 for basic checking needs such as paying rent, utilities and mortgage, in addition to free account access through any of Barnett's 600-plus automatic teller machines.
 H.O.M.E. features a standard 30-year, fixed-rate mortgage with easier down-payment terms, below-market interest rates and no origination fees. To qualify, the borrower's family income must not be greater than 80 percent of the area median family income as determined by the United States Department of Housing and Urban Development.
 Key elements of the H.O.M.E. program are 1) financing of up to 95 percent of the value of the home; 2) interest rates one-half percent below usual market rate; 3) no origination fee; 4) relaxed underwriting ratios; and 5) special down-payment standards that allow the money to come from a gift, grant, unsecured loan or special "soft" second mortgage.
 "Barnett has made a long-term commitment to meet the needs of all of its markets. Our 'basic banking' thrust is an effort to help fulfill this commitment," Covington said.
 With $32.7 billion in assets and 592 offices if Florida and Georgia, Barnett Banks, Inc. (NYSE: BBI) is Florida's largest financial institution and the 20th-largest in the United States. Its stock (BBI) is listed on the New York Stock Exchange.
 -0- 1/21/92
 /CONTACT: Bob Stickler of Barnett Banks, Inc., 904-791-5437 (office) or 904-396-9284 (home)/
 (BBI) CO: Barnett Banks, Inc. ST: Florida IN: FIN SU: PDT


AW-AK -- FL009 -- 1814 01/21/92 12:06 EST
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Date:Jan 21, 1992
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