COLUMBUS, Ohio, July 10 /PRNewswire/ -- Banc One Capital Corporation,
Columbus, Ohio has signed a letter of intent to acquire Fitzgerald, Davis &
Associates, L.P., a Chicago, Illinois broker/dealer which specializes in the
distribution and syndication of high-grade municipal bonds.  Founded in 1992,
Fitzgerald, Davis will be consolidated into the sales and trading operations
of Banc One Capital Corporation.  The acquisition of Fitzgerald, Davis will
provide Banc One Capital Corporation with expanded capabilities in municipal
secondary market sales and trading.  The acquisition is expected to be final
in late July 1997.
    James S. Chapman, Vice Chairman of Banc One Capital Corporation, said,
"This acquisition strengthens our distribution of tax exempt securities in the
Midwest.  Fitzgerald, Davis has a tremendous reputation, a strong seasoned
staff and a wealth of experience in managing a municipal trading operation.
We are looking forward to the enhanced value that the combined operation will
present to the clients of both Banc One Capital and Fitzgerald, Davis."  Banc
One Capital Corporation and its subsidiaries provide investment banking and
merchant banking services to businesses, public entities and other
institutions.
    James Fitzgerald, Managing Director of Fitzgerald, Davis, said, "This is
an exciting opportunity for our company and our clients.  We will now be able
to improve the service we provide our clients by giving them access to a
greater range of products and services.  Through Banc One Capital Corporation,
we can offer our clients new issue public finance and taxable offerings that
we don't offer today.  It also affords us access to Banc One Capital's
extensive expertise in the area of public finance banking."
    Banc One Capital Corporation is an affiliate of BANC ONE CORPORATION
(NYSE: ONE) headquartered in Columbus, Ohio.  BANC ONE CORPORATION had assets
of $101.6 billion and common equity of $8.2 billion at March 31, 1997.  BANC
ONE now operates 1,502 offices in Arizona, Colorado, Illinois, Indiana,
Kentucky, Louisiana, Ohio, Oklahoma, Texas, Utah, West Virginia and Wisconsin.
BANC ONE owns First USA, Inc., a financial services company specializing in
the credit card business and is currently the third largest among domestic
Visa and MasterCard issuers.  BANC ONE also owns several additional
corporations that engage in merchant processing, consumer finance, mortgage
banking, insurance, venture capital, investment and merchant banking, trust,
brokerage, investment management, equipment leasing and data processing.
    Information about BANC ONE's financial results and its products and
services can be accessed on the Internet at:  http://www.bankone.com and
through InvestQuest(TM) at http://www.investquest.com or Fax-on-demand:
614-844-3860.

Link to this page: