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SUMMCORP SHAREHOLDERS APPROVE NBD BANCORP MERGER

 SUMMCORP SHAREHOLDERS APPROVE NBD BANCORP MERGER
 FORT WAYNE, Ind., May 21 /PRNewswire/ -- Summcorp (NASDAQ: SMCR), a


$2.5 billion bank holding company headquartered in Fort Wayne, announced that its shareholders voted overwhelmingly to approve the proposed affiliation with NBD Bancorp, Inc. (NYSE: NBD) at a special shareholders meeting held this evening. There were 74 percent of total Summcorp shares outstanding represented at the special shareholder meeting, and 98 percent of such shares voted in favor of the merger.
 Richard T. Doermer, chairman of Summcorp, said, "This is a transaction from which every important constituency of our company will gain. Our customers will enjoy an expanded range of banking services from one of the nation's strongest, most successful and innovative banking companies. Our shareholders will gain the benefit of holding a highly marketable investment in a large New York Stock Exchange corporation, and our employees will enjoy substantially enhanced career opportunities in an organization that has shown exceptional success in every category of its activities."
 In accordance with the terms of the merger agreement, Summcorp shareholders will receive 1.35 shares of NBD common stock for each share of Summcorp common owned.
 Following the merger, Summcorp and its five Summit Banks will be consolidated into an NBD subsidiary, NBD Indiana, Inc. All bank regulatory approvals have been received, with the Federal Reserve Bank of Chicago approving the proposed merger on May 20, 1992. The companies have targeted July 1, 1992, as the tentative closing date.
 -0- 5/21/92
 /CONTACT: Marvin V. Basse, senior vice president and chief financial officer, Summcorp, 219-427-8160; or J. Richard Johnson, first vice president, NBD Bancorp, Inc., 313-225-2591/
 (SMCR NBD) CO: Summcorp; NBD Bancorp, Inc. ST: Michigan, Indiana IN: FIN SU: TNM


SM -- DE034 -- 3133 05/21/92 19:35 EDT
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Publication:PR Newswire
Date:May 21, 1992
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