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PROXY STATEMENT PURSUANT TO SECTION 14(A) OF THE SECURITIES EXCHANGE
ACT OF 1934
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COMPASS BANCSHARES, INC.
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(Name of Registrant as Specified In Its Charter)
COMPASS BANCSHARES, INC.
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For Immediate Release
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March 31, 1995
For further information: Ellen Laden, 205/933-3554
COMPASS CEO RESPONDS TO DISTORTED VIDEOTAPE
Birmingham, Ala...D. Paul Jones Jr., chairman and chief executive officer
of Compass Bancshares, Inc. (NASDAQ:CBSS) today responded to the latest taping
by Harry B. Brock Jr. -- a new videotape he has circulated.
Mr. Jones stated, "it is a sad commentary on Mr. Brock's desperation that
he must resort to yet another dirty trick. His new video uses the oldest
technique of distortion -- splicing together video clips made at different times
in order to take quotes out of context.
"The truth about Regions is simple and not even Mr. Brock can distort it.
He pretends that he only suspected discussions. In fact, the discussions were
suggested by Mr. Brock himself. There never was a serious negotiation. There
never was a deal. There never was a proposal made by either side and the
subject is closed. The events in question -- which Mr. Brock has tried to make
a prominent part of his efforts to regain control of Compass -- involved a few
conversations during January."
The spliced-together videotape follows revelations earlier this week that
Brock secretly taped conversations with Compass shareholders, employees,
analysts and reporters.
Brock also was delivered a set-back when federal judge Sam Pointer ruled on
Tuesday that the Compass annual meeting set for April llth would go on as
scheduled.
Compass Bancshares, Inc. is a $9.1 billion bank holding company with 188
offices in Alabama, Florida and Texas.
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