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NATIONSBANK TO PROVIDE $300 MILLION LINE OF CREDIT TO HELP FINANCE THE 1996 ATLANTA CENTENNIAL OLYMPIC GAMES

 NATIONSBANK TO PROVIDE $300 MILLION LINE OF CREDIT TO HELP FINANCE
 THE 1996 ATLANTA CENTENNIAL OLYMPIC GAMES
 ATLANTA, Jan. 21 /PRNewswire/ -- NationsBank Corporation (NYSE: NB) today announced that it will provide a $300 million secured line of credit to help finance the 1996 Atlanta Centennial Olympic Games.
 The line of credit will be used by the Atlanta Committee for the Olympic Games (ACOG) for working capital and other short-term financial needs. It will enable ACOG to pay for certain expenses before the organization begins collecting funds from television broadcast networks, corporate sponsors and other sources of income. A line of credit could become particularly important during those periods when construction costs exceed incremental payments from revenue contracts.
 ACOG has previously stated it would make arrangements for its financing through private sources without the requirement of government guarantees and security. This credit facility represents a financing strategy created by NationsBank and ACOG to enable ACOG to meet this commitment.
 "This line of credit gives ACOG the financial stability to support the Olympic Games without the need to turn to governmental financial assistance," said Kenneth D. Lewis, president of the NationsBank General Bank, which is based in Atlanta. "NationsBank is honored to be selected to provide credit services needed to make the Games a success, and to be given an opportunity to express our complete faith in ACOG's leadership."
 Lewis said that NationsBank will discuss with other Atlanta banks how it can work with them to continue the spirit of financial teamwork that characterized the Atlanta bid for the Games.
 "We are grateful to NationsBank for their vote of confidence," said A.D. Frazier Jr., senior executive vice president and chief operating officer of ACOG, "and we are delighted we could arrange this credit facility without governmental guarantees. This credit in no way changes the financial profile of the Games. It simply gives ACOG financial timing flexibility in terms of expenditures necessary to successfully stage the Games."
 NationsBank is the fourth-largest bank holding company in the United States with $110 billion in assets and more than 1,800 banking offices. Its banking network covers the District of Columbia, Florida, Georgia, Kentucky, Maryland, North Carolina, South Carolina, Tennessee, Texas and Virginia. The General Bank includes Commercial, Community and Consumer Banking, as well as Bank Card, Mortgage, Consumer Insurance, Retail Securities and the Dealer Finance lines of business.
 -0- 1/21/92
 /CONTACT: Scott Scredon of NationsBank, 404-581-5555, or 404-978-1862/
 (NB) CO: NationsBank Corporation; NationsBank General Bank; Atlanta
 Committee for the Olympic Games ST: Georgia IN: FIN SU: FNC


BR-BN -- AT019 -- 2141 01/21/92 18:11 EST
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Publication:PR Newswire
Date:Jan 21, 1992
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