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MINORITY VENDORS COMPETE FOR CONTRACT OPPORTUNITIES OFFERED BY NATIONSBANK AND THE CHARLES E. SMITH COMPANIES

 BETHESDA, Md., Aug. 9 /PRNewswire/ -- Area minority vendors are competing for a share of $1.5 - $2 million in potential annual contract opportunities that will be awarded through a property management contract agreement between NationsBank (NYSE: NB) and The Charles E. Smith Companies.
 Earlier this year, the Smith Companies, the largest commercial property owners and managers in the Washington, D.C., metro area, was awarded by NationsBank to manage more than 160 banking centers and office buildings in Washington, D.C., Maryland and Northern Virginia. As part of that agreement, the Smith Companies is committed to a major effort to provide subcontracting opportunities to minority- and women- owned companies.
 The first step of that process took place last week when the Smith Companies in partnership with NationsBank hosted a Minority Business Development Showcase. Representatives of more than 30 area minority- and women-owned firms attended the showcase, where they learned about subcontracting opportunities and qualifying requirements such as insurance and certification. Those attending could also sign up for interviews with Smith company representatives.
 Debi Stout, a Smith Companies vice president, said the company will conduct interviews in the next few weeks and hopes to award the first contracts in September.
 Contracts will be awarded for a variety of services including building repairs, janitorial, landscaping, parking operations, carpet, drapery and furniture cleaning, pest control, and ADA compliance repairs and equipment.
 "By establishing a subcontracting agreement, minority firms who are not large enough to compete for the entire contract can still participate and get a share of the business," said Patricia Warr, regional Minority Business Development Manager for NationsBank.
 "The Smith Companies have a long and proud history of supporting the local business community. Through the NationsBank contract we are expanding the partnerships we began over 40 years ago with local businesses and suppliers," said Stout.
 This type of agreement is not new to NationsBank. Increasing minority participation is a primary goal of the company's Minority Business Development Program, which was created to make sure the company utilizes qualified minority-owned businesses where opportunities exist throughout the company.
 Subcontract agreements, such as the one with the Smith Companies, are an effort by NationsBank to ensure that local minority businesses get their share of the business.
 NationsBank is the fifth-largest banking company in the United States with more than $124 billion in assets and full-service banks in nine states and the District of Columbia.
 For more information on contract opportunities, call The Charles E. Smith Companies' facility management representative, 703-769-1296.
 -0- 8/9/93
 /CONTACT: Patricia Wagaman of NationsBank, 301-493-2851/
 (NB)


CO: NationsBank Corporation; The Charles E. Smith Companies ST: Maryland; Virginia; District of Columbia IN: FIN SU: CON

RA-CF -- AT007 -- 0650 08/09/93 09:44 EDT
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Publication:PR Newswire
Date:Aug 9, 1993
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