Norwest Corporation and Subsidiaries - Page 75

                                        -75-                                          
          The March Agreement included the following provision with regard            
          to goodwill (the goodwill provision):                                       
                    It is understood that there is no good                            
                    will [sic] or similar  intangible  assets                         
                    included in the purchase and sale covered by                      
                    this Agreement and that no part of the purchase                   
                    price shall be attributed or allocated in any                     
                    way to good will [sic].                                           
              In addition, the March Agreement allowed NFR to designate an            
         affiliate (or affiliates) to complete the purchase.  NFR designated          
         NLI and Dial Bank (Dial), NFR's State banking subsidiary.                    
         Consequently, on June 12, 1989, NLI and Dial completed the purchase          
         from FIA and Commercial in an arm's-length transaction.46  NLI and           
         Dial paid $77,952,168 and $63,504,452, respectively, for a total             
         purchase price of $141,456,620.  The purchase price was calculated           
         as follows:                                                                  
                   Stockholder's equity (based on historical balance sheet            
                   values, before purchase accounting adjustments)                    
         -       Excluded assets                                                      
         +       FIA notes payable to Commercial or its affiliates                    
         +       Income taxes (as shown on historical balance sheet)                  
         +       Other liabilities NFR did not specifically assume                    
         +       $390,000 ($100,000 for use of trade name and $290,000 for            
         noncompete agreement)                                                        
         ___________________________________________________                          
         =       Total purchase price per purchase agreement                          




               46   While NFR actually entered into the March Agreement and           
          designated NLI and Dial to complete the purchase, these entities            
          were affiliates of petitioner, and for convenience we sometimes             
          refer to petitioner as the purchaser of FIA's assets.                       






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