NationsBank                                                      News Release

  FOR IMMEDIATE RELEASE

  JAN. 22, 1997 -- NationsBank Corporation announced an agreement today for 
  the underwritten public offering of $500 million in capital securities.

  The issue is part of a shelf  registration for preferred  securities  declared
  effective by the Securities and Exchange Commission.

  The annual distribution rate of LIBOR plus 55 basis points will be paid
  quarterly on Jan. 15, April 15, June 15 and Oct. 15 of each year. The
  offering will be sold through joint lead managers NationsBanc Capital
  Markets, Inc., Bear, Stearns & Co. Inc. and Lehman Brothers. Co-lead
  managers include CS First Boston, J.P. Morgan Securities Inc., Prudential
  Securities Inc., Salomon Brothers Inc and UBS Securities Inc. Closing is
  scheduled for Feb. 3.

  Proceeds from the transaction will be used for general corporate purposes.

  Following its Jan. 7, 1997, merger with Boatmen's Bancshares Inc., NationsBank
  has primary  retail and  commercial  banking  operations  in 16 states and the
  District of Columbia.  On a pro forma combined  basis,  NationsBank  had total
  assets of approximately $227 billion at year-end 1996.

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  Media contact:   Martha Larsh    704 388-4379