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MAGIC LINE ANNOUNCES FINAL AGREEMENTON SUPERREGIONAL ATM NETWORK WITH NBD

 DEARBORN, Mich., July 9 /PRNewswire/ -- The final definitive agreement in the consolidation of Magic Line, Inc. and NBD Bancorp's (NYSE: NBD) two regional proprietary regional networks, Network One of Michigan and MoneyMover of Indiana, were executed today which will result in the creation of the largest electronic funds transfer (EFT) network in the Midwest. The new network will serve customers in Michigan, Indiana, Illinois, and Ohio. Currently the networks will continue to operate under their respective names, but will eventually adopt the Magic Line name.
 "The consolidation allows greater ATM and debit point-of-sale (POS) access," said David Distelrath, chairman of the board, Magic Line, and executive vice president, First of America. "It will result in increased capability for new products and services through research and development, such as electronic benefits transfer service, home banking and electronic check approval, to name a few," Distelrath said.
 As announced in March of this year, NBD will be an equity partner in Magic Line along with Citizens Bank, Comerica Inc., First of America, First Federal of Michigan, Michigan Credit Union League and Michigan National Corporation.
 The new combined network with a cardbase of 7.4 million, will have more than 4,900 ATMs and 3,900 POS terminals connected through 667 financial institutions. In 1992, over 120 million transactions were made within the three networks collectively.
 Magic Line, Inc., headquartered in Dearborn, will have offices in Michigan and Indiana.
 The consolidation is subject to approval by the Federal Reserve Board.
 -0- 7/9/93
 /CONTACT: Daniel N. Roma of Magic Line, 313-441-0510; or Gayle L. McGarvah, APR, 313-884-1222, for Magic Line/
 (NBD)


CO: Magic Line, Inc.; NBD Bancorp ST: Michigan, Indiana IN: FIN SU: TNM

ML -- DE003 -- 9833 07/09/93 10:24 EDT
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Publication:PR Newswire
Date:Jul 9, 1993
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