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CHEMICAL BANK SELECTS ALLTEL'S SYSTEMATICS

 CHEMICAL BANK SELECTS ALLTEL'S SYSTEMATICS
 LITTLE ROCK, Ark., March 17 /PRNewswire/ ALLTEL Corporation's


(NYSE: AT) Systematics subsidiary announced today that the new Chemical Banking Corp. has selected Systematics' deposit systems as the retail banking software for the newly formed organization.
 Chemical Banking Corp., the nation's second largest banking group, was formed on Dec. 31, 1991 through the merger of the Manufacturers Hanover Corp. (MHT) and Chemical Banking Corp. holding companies. With $139 billion in assets and total shareholders' equity of $8.8 billion, the new organization is among the best capitalized banking holding companies.
 John Steuri, Systematics chairman and chief executive officer, said, "We are very proud to continue our partnership with the merged Chemical Banking Corporation. Our people and the group from Manufacturers Hanover worked very hard to ensure a smooth conversion from their existing systems to our deposit applications, prior to the merger of the holding companies. This contribution demonstrates our ability to support the deposit application requirements for the merged bank."
 Systematics, which signed a retail Investment Charter software license with Manufacturers Hanover in 1989, had been working with MHT to jointly develop advanced banking applications. The Systematics applications selected include Savings/Time, Demand Deposit, Customer Information File, General Ledger, and Transaction Delivery Systems.
 Following an in-depth analysis by the new organization's MIS group, Chemical Banking Corp. selected Systematics systems.
 Steve Carns, Systematics president and chief operating officer, said, "Our systems were selected because of the outstanding functionality, performance, technical quality and lower ongoing maintenance costs. Also key to our being selected was the compatibility of Chemical's retail banking architecture with our online delivery and application systems. We are continuing to work with the new Chemical staff on the joint development of an information architecture infrastructure to satisfy their executive information systems requirements. In addition, other projects are currently under way."
 Systematics, with clients in 46 states and 27 countries outside the United States, provides information processing management, services and advanced application software for the financial and telecommunications industries.
 ALLTEL Corporation provides telephone service to 1.2 million customers in 25 states and has subsidiaries or investments in companies that provide cellular telephone, long-distance and information services, communications products and other related services.
 -0- 3/17/92
 /CONTACT: Ron Payne, vice president-corporate communications of ALLTEL Corp., 501-661-8989/
 (AT) CO: Alltel Corporation ST: Arkansas IN: TLS SU:


LC -- CL010 -- 8733 03/17/92 11:05 EST
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Date:Mar 17, 1992
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