Release Details

COLUMBUS, Ohio, March 26, 1997 -- Banc One Capital Corporation (NYSE:ONE), Columbus, Ohio and ORIX USA Corporation, New York, have formed a joint venture to be called Banc One Mortgage Capital Markets. The new joint venture will create a state of the art company that will originate, sell, service and special service commercial real estate loans. The company will also be an active investor in distressed assets and non-investment grade CMBS (commercial mortgage backed securities) and provide due diligence and funds management services for third-party investors. Certain elements of Banc One Management and Consulting Corporation, a nationally recognized commercial loan servicer, Banc One Commercial Loan Origination Corporation and ORIX's Mortgage Capital Markets Group will become part of the joint venture.

William E. Roberts, Vice Chairman of Banc One Capital Corporation, said, "This new joint venture will enable us to significantly enhance our profitability by growing the business through acquisitions as the domestic commercial mortgage services industry consolidates." Banc One Mortgage Capital Markets will be a fully integrated commercial mortgage lender.

Akira Seko, President and Chief Executive Officer of ORIX USA Corporation, said, "This is an exciting opportunity to expand our specialized financing capabilities in the United States." ORIX USA Corporation is a broadly diversified financial services company with activities ranging from asset- based loans and equipment leases to general corporate finance and real estate financing. ORIX USA Corporation is a subsidiary of ORIX Corporation of Tokyo, Japan, which is a publicly-owned financial services company with operations in over 25 countries worldwide and assets in excess of $45 billion.

BANC ONE CORPORATION had assets of $101.8 billion and common equity of $8.4 billion at December 31, 1996, and operates 1,502 banking offices. BANC ONE also owns several additional corporations that engage in credit card and merchant processing, consumer and education 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 fourth quarter and full year 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. Banc One Management and Consulting Corporation's home page is at: www.bomcc.com.