COLUMBUS, Ohio, March 6 /PRNewswire/ -- Banc One Corporation (NYSE: ONE)
announced that Moody's Investors Service has confirmed the Aaa ratings on all
senior classes and A2 ratings on all subordinated classes issued by the Banc
One Credit Card Master Trust, as indicated in Moody's press release dated
March 5, 1997.  Moody's placed nine Certificates on review for possible
downgrade on January 22, 1997.
    The rating confirmations are based on actions taken or to be taken by Banc
One Corporation (BANC ONE) to provide additional credit protection for the
Certificates and improve credit performance of the receivables.  These actions
include:  increases in the cash collateral accounts for each of the classes,
the March addition of $1.2 billion of new accounts to the trust, modification
of the timing of charging off accounts following notification of bankruptcy
filing, the bulk sale of charged off receivables by the master trust and the
dedication to the master trust of investment earnings on trust collections.
Banc One believes these actions proactively address the possibility of an
early amortization of the Certificates.
    Banc One expects to release its servicer report for the month of
February 1997 on or about March 15, 1997.  Preliminary estimates indicate that
improved portfolio performance during February, together with the actions
outlined above, will produce excess spread levels substantially above those
reported in the prior two reporting periods.
    Banc One remains fully committed to continued use of credit card
securitization as a funding strategy and the credit card business as
exemplified by the January 20, 1997 announcement to merge with First USA, Inc.
(NYSE: FUS).
    At December 31, 1996, Banc One had a managed card portfolio of
$12.6 billion of which $3.3 billion had been securitized.  First USA Inc.
manages a card portfolio of $22.4 billion of which $17.2 billion had been
securitized.  Completion of the merger transaction will make Banc One the
third largest bank card issuer in the United States serving over 32 million
customers.

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