NASHVILLE, Tenn. (AP) _ Another attempt at a women's professional basketball league was launched today with the first full season targeted for 1996.

The Women's Major Basketball League will be based in Nashville, and The Institute of Professional Athletics will handle the initial stages of the league's formation.

The league plans to play exhibition games starting in the fall.

``It is the intent of this league to showcase the extensive basketball talent found here in the United States as well as Europe and Asia,'' Scott Greer, the institute's chief executive officer, said Wednesday.

``It's been sad that we've had to watch our best players from the college ranks leave this country in order to continue their basketball careers. The W.M.B.L. will change all that.''

The league will draft players from graduates and players preparing to graduate from college.

Clay Zorn, the institute's chief financial officer, said the salaries offered will help the league attract the best talent available. Each franchise will have a multi-million dollar budget.

The league won't be trying to compete for fans of men's pro teams currently in major markets.

``Players of this caliber deserve to play in major arenas, in major cities in this country, and in this league, they will,'' Zorn said.