EXHIBIT 99.1

FOR IMMEDIATE RELEASE

September 30, 1998


Contact: Bob Stickler (704-386-8465) or (704-386-5792)


NATIONSBANK AND BANKAMERICA CLOSE MERGER
CREATING LARGEST U.S. BANK

CHARLOTTE,  NC,  September 30, 1998 - NationsBank  Corporation  and  BankAmerica
Corporation today formally completed their merger,  creating the largest bank in
the United States.

The merged company holds a leading 8 percent of the nation's bank  deposits.  It
is also the largest  lender to  individuals  and  businesses.  The company has a
relationship with 30 million, or one of three, American households and more than
85 percent of the Fortune 500 businesses.  It serves customers from almost 5,000
banking offices in 22 states and the District of Columbia.  More than 90 percent
of the company's revenues come from within the United States.

The new company has offices in 38  countries  and does  business  with 2 million
businesses   around  the  world.   The  company  is  number  one  in   corporate
relationships  and among the leaders in money  management  for  individuals  and
institutions.

Starting  Oct.  1,  customers  of both Bank of America and  NationsBank  can use
nearly 14,000 of the banks' ATMs around the country to make cash  withdrawals or
transfer funds between primary  checking and savings  accounts with no ATM fees.
They should  continue to conduct other business at the banking  offices of their
original company.

Beginning tomorrow (Oct. 1), the company's shares will be listed on the New York
and Pacific stock exchanges as BankAmerica  Corporation  under the ticker symbol
"BAC." The shares are also listed on the London and Tokyo exchanges.

NationsBank shareholders continue to hold shares in the new company. BankAmerica
shareholders  are  entitled  to 1.1316  shares in the new company for each share
they  owned as of the  close  of  business  today.  This  exchange  will be made
automatically for those stockholders  holding their shares in brokerage accounts
or various BankAmerica investment plans. Those holding shares in their own names
will be contacted by the company as to how to exchange their shares.

While  NationsBank  shareholders  starting  tomorrow  will see the usual  market
fluctuation in price, BankAmerica shareholders will notice that their individual
share values will be lower than the closing price on Sept.  30,  reflecting  the
fact that they now own 1.1316 shares for each share they previously owned.

Third quarter  earnings  will be reported as a combined  company on Oct. 14. For
the first half of 1998,  the  companies  together  earned  $4.0  billion,  up 19
percent  from a year  earlier.  Diluted  per share  earnings of $2.30 were up 22
percent.

BankAmerica Corporation,  with $572 billion in total assets, is the largest bank
in the United States, with full-service operations in 22 states and the District
of Columbia.  BankAmerica provides financial products and services to 30 million
households  and  2  million  businesses,  as  well  as  providing  international
corporate  financial  services  for  business  transactions  in  190  countries.
BankAmerica  Corporation stock (ticker:BAC) is listed on the New York,  Pacific,
London and Tokyo stock exchanges.

                              www.nationsbank.com

                              www.bankamerica.com