Investor Relations

One Group, Pegasus Funds Merge to Form $56 Billion Fund Family

March 22, 1999
COLUMBUS, Ohio, March 22, 1999 - Banc One Investment Advisors Corporation announced today the merger of the Pegasus Funds with The One Group Family of Mutual Funds. The new fund family, named One Group Mutual Funds, offers 48 mutual funds and has more than $56.2 billion in assets under management. One Group is the proprietary fund family of BANK ONE CORPORATION (NYSE: ONE).

One Group Mutual Funds are managed by Banc One Investment Advisors, headquartered in Columbus, Ohio. The One Group's 48 mutual funds include:

* 14 equity funds,

* 12 money market funds,

* 10 tax-exempt fixed income funds,

* eight taxable fixed income funds, and

* four investor (fund of funds) funds.

(See attached list for specific fund names.)

"We've brought together two excellent fund families to form an even greater mutual fund complex," said David J. Kundert, president and CEO of Banc One Investment Advisors. "We're very excited by the size and scope of the fund family. As one of the 25 largest fund families, we offer a full range of mutual funds, which gives shareholders more choices to help them meet their financial goals."

The Pegasus funds were the proprietary fund family of First Chicago NBD Corporation. It had 29 funds and $23.6 billion in assets. The One Group had 33 funds and $32.6 billion in assets before the merger.

Banc One Investment Advisors is an indirect subsidiary of BANK ONE CORPORATION, which was formed in late 1998 by the merger of Banc One Corporation and First Chicago NBD. BANK ONE is headquartered in Chicago and is the nation's fourth largest bank holding company, with assets of more than $260 billion.

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Mutual funds are not FDIC insured, have no bank guarantee and may lose value.

One Group is distributed by The One Group Services Company, which is not affiliated with BANK ONE CORPORATION. Banc One Investment Advisors Corporation serves as investment advisor to the One Group, for which it receives advisory fees. Call Investor Services at The One Group Service Center at 1-800-480-4111 for a prospectus containing complete information about charges and expenses. Read carefully before investing. Past performance is no guarantee of future results.



ONE GROUP MUTUAL FUNDS
Fund Lineup 3/22/99

Equity Funds

Growth Funds
Large Cap Growth 
Mid Cap Growth
Small Cap Growth 

Value Funds
Large Cap Value 
Mid Cap Value 
Small Cap Value 

Blend Funds
Equity Index 
Diversified Equity
Equity Income 
Balanced 
Diversified Mid Cap
Market Expansion Index
International Equity Index
Diversified International 


Fixed Income Funds

Taxable Funds
Ultra Short-Term Bond 
Short-Term Bond
Treasury and Agency Bond
Intermediate Bond
Government Bond
Bond
Income Bond
High Yield Bond

Tax-Exempt Funds
Intermediate Tax-Free Bond
Municipal Income Bond
Tax-Free Bond
Ohio Municipal Bond
Kentucky Municipal Bond
Louisiana Municipal Bond
Arizona Municipal Bond
West Virginia Municipal Bond
Michigan Municipal Bond
Short-Term Municipal Bond

Investor Funds
Investor Growth
Investor Growth & Income
Investor Balanced
Investor Conservative Growth

Money Market Funds
Retail Money Funds
Prime Money Market 
U.S. Treasury Securities Money Market 
Municipal Money Market
Ohio Municipal Money Market 
Michigan Municipal Money Market

Institutional Money Market Funds
Treasury Only Money Market
Government Money Market
Cash Management Money Market
Treasury Cash Management Money Market
Treasury Prime Cash Management Money Market
Government Cash Management Money Market
Municipal Cash Management Money Market





Mutual funds are not FDIC insured, have no bank guarantee, and may lose value.

One Group is distributed by The One Group Services Company, which is not affiliated with BANK ONE CORPORATION. Banc One Investment Advisors Corporation serves as investment advisor to the One Group, for which it receives advisory fees.

Call Investor Services at The One Group Service Center at 1-800-480-4111 for a prospectus containing complete information about charges and expenses. Read carefully before investing. Past performance is no guarantee of future results.