Bank One Corporation - Page 199

                                        -39-                                          
                         b.  No Dissemination of Actual Swap Prices                   
               The actual prices at which swaps closed during the relevant            
          years were not publicly disclosed.  The only publicly available             
          data on swap prices during those years was the quoted bid and ask           
          rates in the interdealer market as to plain vanilla swaps.  Those           
          quotations were normally the best indicator of the market price             
          at a particular moment.                                                     
                         c.  Spreads Included in Quotations                           
               Swap bid and ask rates in U.S. dollar denominated swaps with           
          maturities exceeding 1 year were commonly quoted in terms of a              
          spread to the corresponding U.S. Treasury yield.  The table below           
          lists the U.S. Treasury yield, the bid spreads quoted in the                
          market, and the resulting bid rates as reported by Bloomberg for            
          December 31, 1992, for U.S. dollar denominated swaps with                   
          maturities exceeding 1 year.                                                
               Maturity    U.S. Treasury Yield  Bid Spread   Swap Bid Rate            
               2-year            4.57%             .24           4.81%                
               3-year            5.06              .37           5.43                 
               5-year            6.00              .30           6.30                 
               7-year            6.37              .33           6.70                 
               10-year           6.69              .32           7.01                 
               Swap rates reported for U.S. dollar denominated swaps with             
          maturities of 1 year or less were usually taken directly from the           
          LIBOR deposit market.  The table below lists the LIBOR deposit              
          rates in the LIBOR deposit market as reported by Bloomberg for              








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