COLUMBUS, Ohio, Dec. 30 /PRNewswire/ -- Banc One Corporation (NYSE: ONE)
and Liberty Bancorp, Inc. (Nasdaq: LBNA), a multi-bank holding company
headquartered in Oklahoma City, Oklahoma, jointly announced today that they
have signed an agreement for the merger of Liberty Bancorp, Inc. with Banc One
Corporation.  The announcement was made by John B. McCoy, Chairman and Chief
Executive Officer of Banc One, and Charles E. Nelson, Chairman and Chief
Executive Officer of Liberty Bancorp, Inc.
    Terms of the agreement call for Liberty Bancorp shareholders to receive
1.175 shares of Banc One stock for each share of Liberty Bancorp stock.  The
value of the transaction is approximately $546 million based on Banc One's
closing share price on Friday, December 27, 1996.
    McCoy said, "This is an important affiliation for us in that our stated
objective is to be one of the top three banks in the markets we serve.  Banc
One currently operates Bank One, Oklahoma which has assets of approximately
$600 million. Combined, these two affiliates will become the largest bank in
Oklahoma City and one of the top three banking companies in the state."
    Nelson said, "We are very pleased to be joining Banc One which has
demonstrated an exceptional ability to dramatically improve operating
performance of its affiliates.  This association will permit us to play an
even more significant role in the future growth of Oklahoma."
    It is anticipated that Liberty will join with Bank One, Oklahoma at the
end of the second quarter of 1997. Liberty Bancorp, Inc. had assets of
approximately $2.9 billion as of September 30, 1996 and operates 29 banking
offices in Oklahoma City and Tulsa.
    Banc One Corporation had assets of $98.6 billion and common equity of
$8.2 billion at September 30, 1996 and operates 1,503 banking offices.
Banc One also owns several additional corporations that engage in credit card
and merchant processing, consumer finance, mortgage banking, insurance, trust
and investment management, brokerage, investment and merchant banking, venture
capital, equipment leasing and data processing.
    Information about Banc One's third quarter 1996 financial results and its
products and services can be accessed on the Internet through Banc One's home
page at: http://www.bankone.com, through InvestQuest (TM) at
http://www.investquest.com and InvestQuest (TM) Fax-on-demand: 614-844-3860.

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