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NATIONSBANK ANNOUNCES CONSUMER LOAN PROGRAM TO HELP FANS PURCHASE RIGHTS TO SEASON TICKETS FOR PROPOSED CAROLINAS NFL TEAM

 CHARLOTTE, N.C., June 3 /PRNewswire/ -- NationsBank (NYSE: NB) today announced a consumer loan program designed to help Carolinas football fans purchase rights to buy home-game season tickets for the envisioned Carolinas National Football League team.
 These rights, called Permanent Seat Licenses (PSLs), will range from $600 to $5,400 per seat, according to Richardson Sports, the group trying to win an NFL expansion franchise for the Carolinas.
 Beginning June 7, fans may pick up applications for PSLs at any of the 424 NationsBank banking centers in North Carolina and South Carolina. That also is the first day fans may pre-qualify or apply for an unsecured installment loan or an unsecured line of credit to finance their PSLs.
 Under the installment loan program, NationsBank will finance 100 percent of the cost of a PSL. The interest rate will be the current new car rate (which may change weekly) and loan terms will be up to 48 months. The minimum loan is $2,500.
 The unsecured line of credit will be variable-rate financing at prime plus 2 percent, 100 percent financing and a minimum loan of $500. The Prime rate currently is 6.0 percent.
 "We are convinced that the Carolinas market is the perfect place for an NFL expansion franchise," said Joel A. Smith III, president NationsBank Carolinas.
 "There are thousands of football fans throughout the Carolinas who will support the NFL," he continued. "We want to help them do that. We want to show league officials that when the Carolinas support something, they are willing to get on board up front."
 PSL costs will vary, depending on location in the stadium. Richardson Sports, which is handling PSL applications on a first-come, first-served basis, will accept one-third of the PSL cost as a deposit, beginning July 1. Another third will be due March 1, 1994, after the franchise is awarded; the final installment will be due January 6, 1995, prior to season tickets going on sale.
 To buy PSLs, fans can make payments by cash, check or credit card, or they can use available balances on credit cards or other lines of credit. All deposits will be held in an escrow account where they will earn interest. If a team is not awarded to the Carolinas, deposits plus interest will be returned.
 Applications for NationsBank PSL loans are subject to normal credit approval and delinquent accounts will receive standard collection attention.
 "League officials will be watching closely how much support the Carolinas can provide an NFL team," Smith said. "Sports enthusiasm runs rampant in the Carolinas -- from the ACC to triple-A baseball to the NBA. We want to show the NFL what we can do for professional football."
 NationsBank Corporation is the fifth-largest banking company in the United States with $121 billion in assets and full-service banking centers in nine states and the District of Columbia. NationsBank has 424 banking centers in 165 Carolinas communities.
 -0- 6/3/93
 /CONTACT: Mary Waller, 704-386-5469 (office) or 704-821-8952 (home), or Sheryl McAlister, 704-386-3150 (office) or 704-366-2815 (home), both of NationsBank Corporation/
 (NB)


CO: NationsBank Corporation ST: North Carolina IN: FIN ENT SU: PDT

CM -- CH009 -- 5069 06/03/93 14:30 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
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