PRESS RELEASES

February 03, 2000
First Union Securities, Inc. Announces Important Additions to Institutional Sales Force in Equity Capital Markets Business

BALTIMORE, MD - First Union Securities, Inc. has announced several additions to the Equity Institutional Sales group, headed by Clinton Daly.

Beau Volley recently joined the group as a senior sales person covering New York accounts. Beau had been with Deutsche Banc Alex. Brown.
Matt Snyder, formerly with Jefferies & Co., is a senior salesperson also covering New York accounts.
Brian Fitzgerald will also cover New York accounts as a senior sales person. Brian joins First Union Securities from CIBC Oppenheimer.
Kevin Marra recently joined the group as a senior sales person and will cover accounts in the Mid-Atlantic and New York. Kevin joins the group from Robinson Humphrey and also worked with Paine Webber for seven years prior to that.
Liam Healy will join the group from ABN Amro as a senior sales person to cover Midwest accounts.
Chuck Gulledge, formerly with Preferred Capital Markets, Inc. and Dain Rauscher, has joined the group covering West Coast accounts.
Marty Donnelly, formerly with Guidant Corp., has joined as an associate to assist in covering accounts in Texas.
Bo Jarrett joined the group from Merrill Corp. to assist in managing the institutional marketing desk.
We are very excited about our recent growth in the Institutional Sales group, said Clinton Daly, Managing Director of the Institutional Sales Group. We will continue to build our group to ensure optimal coverage of our important institutional clients.

The First Union Securities Institutional Sales Group is a part of the Equity Capital Markets Business and currently has 38 senior sales people covering approximately 500 major accounts. First Union Securities Equity Capital Markets group is managed by Mickey Misera, Managing Director.

Important Notice: First Union Securities is the trade name under which Charlotte based First Union Corporation conducts its investment banking, merger and acquisition, asset management and mutual fund, brokerage and insurance businesses.

First Union Securities includes: (1) First Union Securities, Inc. (FUSI), a registered broker-dealer and member NYSE/NASD and SIPC providing investment banking, merger and acquisition advisory and brokerage services to corporations, individuals and other institutions throughout the United States; (2) First Union Brokerage Services, Inc. (FUBS), a separately registered broker-dealer and member NASD and SIPC providing primarily retail brokerage services; (3) First Clearing Corporation (FCC), a separately registered broker-dealer and member NYSE/NASD and SIPC, providing securities clearance and settlement services; (4) the Capital Markets and Capital Management Groups within First Union National Bank (FUNB), a national banking association, and its subsidiaries, providing asset management, lending, structured finance risk management, derivatives, and fiduciary services to institutions and individuals; (5) various subsidiaries within First Union Corporation providing investment advisory, administrative and other services to the Evergreen and Mentor families of mutual funds; and (6) various wholly-owned state insurance agencies.

Stocks, bonds, mutual funds or other securities offered or sold through First Union Corporation or any of its bank or non-bank subsidiaries are not deposits of any bank and are not insured, guaranteed or otherwise protected by the Federal Deposit Insurance Corporation or any other government agency; are not endorsed or guaranteed by First Union Corporation, FUNB or any bank; and involve investment risk, including possible loss of principal.

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