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Bank of America Completes Financing for Republic Industries

17 March 1999

Bank of America Completes Financing for Republic Industries, Inc.

    CHICAGO, March 17 -- Bank of America today
announced completion of a $500,000,000 syndicated loan for Republic
Industries, Inc., a Ft. Lauderdale, Florida-based operator of the nation's
largest chain of new vehicle dealerships.  The company also owns National Car
Rental Systems, Inc., Alamo Rent-A-Car, Inc. and CarTemps USA.
    Bank of America's Leasing & Rentals Group served as Administrative Agent
and NationsBanc Montgomery Securities LLC served as Sole Lead Arranger and
Book Manager on the loan, the proceeds of which will be used to finance
working capital and for other general corporate purposes including capital
expenditures and future acquisitions.
    Bank of America's Leasing & Rentals Group delivers financing and advisory
services to leasing and rental companies headquartered throughout North
America.  As of 12/31/98, the Leasing & Rentals Group had $3 billion in total
bank commitments to this industry, and provided an additional $2.8 billion in
conduit financing.
    NationsBanc Montgomery Securities LLC, a subsidiary of Bank of America
Corp., is a full-service investment bank and brokerage firm with approximately
$2.7 billion of regulatory capital.  The company provides research, trading
and issuance in the equity and fixed-income markets (high-yield, emerging
markets, high-grade and mortgage-backed markets).  Other services include M&A
advisory, financial buyer coverage, loan syndications, global investment
banking, real estate finance, mortgage finance, money markets and a primary
dealer.
    NationsBanc Montgomery Securities is a registered broker-dealer with the
Securities and Exchange Commission and is a member of the National Association
of Securities Dealers and the New York Stock Exchange.
    Bank of America, with $618 billion in total assets, is the largest bank in
the United States, with full-service consumer and commercial operations in 22
states and the District of Columbia.  Bank of America provides financial
products and services to 30 million households and two million businesses, as
well as international corporate financial services for transactions in 190
countries.  Bank of America stock is listed on the New York, Pacific and
London stock exchanges and certain shares are listed on the Tokyo Stock
Exchange.