The Virginian-Pilot 
                             THE VIRGINIAN-PILOT 
              Copyright (c) 1995, Landmark Communications, Inc.

DATE: Friday, July 21, 1995                  TAG: 9507210518
SECTION: BUSINESS                 PAGE: D1   EDITION: FINAL 
SOURCE: BY TOM SHEAN, STAFF WRITER 
                                             LENGTH: Short :   45 lines

NORFOLK STATE'S BUSINESS SCHOOL GETS $150,000 GRANT FROM BANK

NationsBank Corp. has awarded $150,000 to Norfolk State University's School of Business Administration to create a NationsBank Center for Entrepreneurial Studies.

Similarly, First Union Corp. said its Roanoke-based bank donated $250,000 to the Virginia Tech Pamplin College of Business Administration.

First Union's contribution will endow a new professorship at Virginia Tech for the study of managing financial risk.

The NationsBank grant to Norfolk State's business school will be used to endow a chair and fund student scholarships, said Joseph L. Boyd, the school's dean.

Earlier this year, Boyd announced plans to eventually change the school's name to the School of Business and Entrepreneurship to reflect its emphasis on developing small-business skills.

The Norfolk State business school also has received a $25,000 grant from the Coleman Foundation to conduct forums and seminars on small-business ownership and to publish an entrepreneurship journal, Boyd said.

In addition, the Virginia Department of Transportation recently contracted with the school to help small contractors develop skills for handling highway construction contracts. The business school will receive $91,000 for its services.

First Union's award to Virginia Tech was part of a $1.1 million package of educational grants and equipment that the bank distributed in Virginia, Washington and Maryland.

The largest award - $500,000 - was made to the University of Virginia and the Thomas Jefferson Foundation. These funds will be used to support the International Center for Jefferson Studies and the university's McIntire School of Commerce.

First Union said it also donated 800 computers worth $200,000 to public schools, youth tutorial programs, adult literacy programs and community nonprofit groups in Norfolk and eight other cities in its Virginia-Washington-Maryland region. by CNB