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Media Contact: Danielle Dietz
(704) 383-5392

September 13, 2000
First Union Securities Adds Senior Biotechnology Analyst To Equity Research Department

NEW YORK-First Union Securities, Inc. has announced that Leah Cann has joined its Equity Research team as a Senior Analyst following the Biotechnology Industry, with a specific focus on therapeutic drug development.

Cann joins First Union Securities from Cadence Capital Management where she was a Senior Healthcare Analyst following the Biotechnology and Pharmaceutical sectors. Prior to working for Cadence, Cann was an Executive Director and Senior Healthcare Analyst with CIBC Oppenheimer where she was responsible for coverage of the Biotechnology and Scientific Instrumentation sectors.

Cann has been recognized twice by the Wall Street Journal as an All Star Analyst. She received her MBA and BA in Chemistry from Stetson University. She will work out of the First Union Securities New York equity research office.

"We are excited to have Leah join our growing Biotechnology team," said Todd Wickwire, Director of Institutional Research for First Union Securities. "Her extensive background and experience in the industry combined with our coverage of the genomics sector will allow us to provide a comprehensive yet detailed view across the biotechnology spectrum."

First Union Securities' Equity Research division currently has nearly 50 senior analysts covering approximately 500 companies in nine main sectors: Communications & Technology, Real Estate, Healthcare, Industrial, Energy, Consumer, Furnishings & Textiles, Financial Services and Business Services.

First Union (NYSE: FTU), with $258 billion in assets and stockholders' equity of $14 billion at June 30, 2000, is a leading provider of financial services to 15 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 44 states and international offices worldwide. 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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