ATLANTA, June 23 /PRNewswire/ -- Premier Bancshares, Inc. (AMEX: PMB) and
Central and Southern Holding Company completed the merger of their
organizations today.  Shares of Central and Southern Holding Company were
exchanged share-for-share for Premier Bancshares, Inc. stock.  The resulting
organization, which is based in Atlanta, Georgia, will continue to operate as
Premier Bancshares, Inc.
    Premier Bancshares, Inc., is a bank and thrift holding company with six
subsidiaries serving the greater metropolitan Atlanta area and key areas of
northeast Georgia.  Subsidiaries include Premier Bank; Premier Bank, FSB;
Central and Southern Bank of Georgia; Central and Southern Bank of North
Georgia, FSB; Premier Lending Corporation; and Alliance Finance, Inc.
Premier's subsidiaries operate a total of 24 offices and make Premier
Bancshares, Inc. the tenth largest full-service bank holding company in
Georgia.
    Darrell D. Pittard, who will continue as Chairman and Chief Executive
Officer of Premier Bancshares, said, "Premier Bancshares, Inc. stock value has
increased by approximately 46% during 1997.  We think this indicates the
market's favorable reaction to the proposed Central and Southern merger, as
well as the Company's positive earnings trend.  The merger also improves our
stock liquidity with Premier now having approximately 8 million shares
outstanding."
    Premier Bancshares, Inc. has total assets of approximately $544 million,
shareholders' equity of approximately $48 million, and a market capitalization
of approximately $136 million.
    J. Edward Mulkey, Jr., who previously served as President and Chief
Operating Officer of Premier Bancshares, Inc. will assume the role as Vice
Chairman of Premier Bancshares and will continue as President and CEO of
Premier Bank.  Central and Southern's Chief Executive Officer, Robert C.
Oliver, will move from Milledgeville, Georgia to the holding company
headquarters in Atlanta to serve as President and Chief Operating Officer of
Premier Bancshares, Inc.
    Oliver said, "As we aggressively implement our plan to combine the back
office operations of the banks over the next few months, we anticipate
achieving significant operational savings which will help off-set merger
related expenses."
    Michael Ricketson, Central and Southern's Chief Financial Officer, will
also move to Atlanta following the merger and will become Executive Vice
President of Premier Bancshares, Inc.
    Additional financial information regarding the merger and Premier
Bancshares, Inc. is available from Frank H. Roach, Executive Vice President
and Chief Financial Officer at 404-814-3090.

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