PRESS RELEASES

Media Contact: Elizabeth Hodges
(704) 383-5188

May 02, 2000
First Union Securities Acts as Sole Lead Arranger for Data Transmission Network Corporation "DTN"
First Union Provides Loan Syndication, Private Equity and Interest Rate Hedging

CHARLOTTE, NC - First Union Securities recently served as lead arranger and administrative agent for Data Transmission Network Corporation (DTN), a business-to-business electronic commerce and information services company serving the agriculture, weather, energy and financial services industry based in Omaha, Nebraska.

First Union Securities provided:
$350 million senior secured credit facilities
$10 million equity co-investment
$150 million interest rate hedging
VS&A Communications Partners III, L.P., the private equity affiliate of New York media merchant bank Veronis, Suhler & Associates was the equity sponsor for the transaction. The financing supports VS&A's acquisition of DTN for total consideration of $467 million.

"This transaction highlights our ability to bring varied expertise and quick execution," said George Cole, Managing Director and Co-Head of First Union Securities' Media and Entertainment Investment Banking Group. "This deal exemplifies First Union's ability to bring ideas and capital to growing companies."

First Union (NYSE:FTU), with $254 billion in assets and stockholders' equity of $17 billion at March 31, 2000, is a leading provider of financial services to 16 million retail and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices in 12 East Coast states and Washington, D.C., and full-service brokerage offices in 41 states. Online banking products and services can be accessed through www.firstunion.com.

Important Notice: First Union Securities is the trade name under which 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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