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NATIONSBANK COMPLETES ACQUISITION OF CHICAGO RESEARCH AND TRADING GROUP

 CHARLOTTE, N.C., July 2 /PRNewswire/ -- NationsBank Corporation (NYSE: NB) today announced the completion of its acquisition of the Chicago Research and Trading Group, Ltd., one of the world's largest options market-making and trading firms.
 The acquisition agreement was originally announced on March 17, 1993. The purchase price is $225 million in cash. CRT has about 750 employees and $7.2 billion in assets.
 Jim Thompson, Chairman of NationsBank East, said the Chicago Research and Trading Group will change its name to NationsBanc-CRT and become a division of NationsBank of North Carolina.
 "The CRT name is well-known and respected throughout the world," Thompson said. "The addition of CRT to the NationsBank team gives us the opportunity to enhance the relationships we have with our corporate and institutional customers. We'll be able to offer a variety of sophisticated products to meet their needs."
 The headquarters of NationsBanc-CRT will remain in Chicago, with additional offices in Frankfurt, London, Osaka, Philadelphia, Ridgefield, Ct., San Francisco, Singapore and Tokyo.
 Roderic H. (Rick) Smith, previously Chief Executive Officer of CRT, has been named President of NationsBanc-CRT. He will remain in Chicago and report to William L. Maxwell, the Principal Funding Executive for NationsBank.
 CRT Government Securities, Ltd., which is a New York-based primary dealership, will become a separate division of NationsBank of North Carolina. John R. Burrus will continue to serve as President of the primary dealership and also will report to Maxwell.
 NationsBanc-CRT will have more than 150 memberships on 19 exchanges and trade approximately 75 different options and futures contracts on interest rates, equity indices, petroleum and foreign exchange, as well as other instruments.
 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.
 -0- 7/2/93
 /CONTACT: Tim Lubinsky of NationsBank Corporation, 704-386-4340/
 (NB)


CO: NationsBank Corporation; Chicago Research and Trading Group, Ltd. ST: North Carolina, Illinois IN: FIN SU: TNM

CM -- CH005 -- 8163 07/02/93 13:07 EDT
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Publication:PR Newswire
Date:Jul 2, 1993
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