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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
August 28, 1998
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(Date of earliest event reported)
BankAmerica Corporation
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(Exact name of registrant as specified in its charter)
Delaware 1-7377 94-1681731
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification Number)
Bank of America Center
555 California Street
San Francisco, California 94104
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Address of principal executive offices) (Zip Code)
415-622-3530
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(Registrant's telephone number, including area code)
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Item 5. Other Events.
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Attached hereto as Exhibit 99 is a copy of BankAmerica
Corporation's press release dated August 28, 1998 titled "BankAmerica
Statement on Impact of Global Volatility and its Reduced Russian Exposure."
Item 7. Financial Statements, Pro Forma Financial Statements and
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Exhibits
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(c) Exhibits
Number Description
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99 BankAmerica Corporation press release titled
"BankAmerica Statement on Impact of Global
Volatility and its Reduced Russian Exposure."
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
BANKAMERICA CORPORATION
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(Registrant)
Date: August 28, 1998
By /S/ CHERYL A. SOROKIN
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Cheryl Sorokin
Executive Vice President
and Corporate Secretary
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EXHIBIT INDEX
Exhibit
Number Description
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99 BankAmerica Corporation press release titled
"BankAmerica Statement on Impact of Global Volatility
and its Reduced Russian Exposure."
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[BANKAMERICA CORPORATION LOGO APPEARS HERE]
Exhibit 99
NEWS
For release:
Contact:
John Keane (415) 622-2773
Sharon Tucker (415) 622-2775
BankAmerica Statement on Impact of Global Volatility
and its Reduced Russian Exposure
SAN FRANCISCO, August 28, 1998--BankAmerica Corporation (BAC) said today that
as a result of volatility in global financial markets it has incurred quarter-
to-date trading losses (including net interest income associated with trading
activities) of approximately $220 million. Year-to-date trading-related income
was approximately $315 million.
The losses were incurred primarily in the Russia Federation and were the
principal factor in reducing the company's total Russia Federation exposure
from $412 million at June 30 to approximately $100 million at August 26.
BankAmerica reported net income of $1.725 billion through the first six months
of the year and had total assets of $264 billion at June 30.
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