PRESS RELEASES

Media Contact: Elizabeth Hodges
(704) 383-5188

July 24, 2000
First Union Securities Advises Headhunter.net on the Purchase of CareerMosaic

CHARLOTTE--First Union Securities recently acted as buyside advisor to Headhunter.net (Nasdaq:HHNT) on the purchase of CareerMosaic, a subsidiary of Omnicom (NYSE:OMC). The new company's combined sites will serve six million visitors per month and feature more than 250,000 job postings, making it the No. 2 online job awareness and recruiting destination on the Internet.

First Union Securities has been an important financial partner to Headhunter.net since our IPO last year. They provide creative ideas and comprehensive financial solutions for our business, said Bob Montgomery, president and CEO of Headhunter.net. "We were pleased to further build on our relationship with First Union.

First Union Securities' relationship with Headhunter.net commenced when Headhunter.net went public in August of 1999. First Union acted as lead manager for the offering.

"After taking Headhunter.net public, we were pleased to act as the company's exclusive advisor for this important transaction," said Bruce Kelleher, director in First Union Securities' Technology Investment Banking Group. "This deal exemplifies First Union Securities' ability to build relationships with Internet companies and offer them the array of financial services they need to be successful."

First Union Securities' Technology Investment Banking Group is one of the largest focused exclusively on emerging Internet companies, and the leading underwriter in the Internet Professional Services space. The Technology Investment Banking Group covers the following sectors: Business to Business, Internet Enablers, IT/Internet Professional Services, Internet Software, and Wireless and Wireline Infrastructure.

Headhunter.net is a leading national online recruiting service that specializes in empowering candidates and corporations to manage the job search process. The site has more than 548,000 resumes and over 180,000 jobs representing over 8,000 of the nation's top employers across virtually every industry. The site, which has more than 3 million visitors a month, distinguishes itself by providing job seekers privacy when searching and applying for jobs, and allows job seekers and job posters to manage and track the visibility and performance of their listings. The company web site can be accessed through www.headhunter.net.

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., full-service brokerage offices in 41 states and international offices worldwide. Online banking products and services can be accessed through www.firstunion.com.

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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