PRESS RELEASES

Media Contact: Karen Kitzmiller
(704) 374-2026

April 06, 2000
First Union Announces Customer Support in its Global Cash Management Group

CHARLOTTE, N.C. - First Union's Global Cash Management Division announced today major relationship support enhancements to its Implementations group, effective immediately.

The Implementations group works with the sales organization to set up new services or modify existing ones for cash management customers. These include services such as ACH, PC-and Web-based services, e-commerce, lockbox, controlled disbursement and data transmission.

"We've completely redesigned our service implementation process to make it a truly customer-focused approach, with one individual managing the entire set-up process, from beginning to end," said Rory Crawford, SVP and head of Implementations and Technical Consulting for Global Cash Management. "Our implementation project managers will work in tandem with our sales consultants and associates to provide a dedicated relationship team for the customer."

Through these process and system enhancements, one implementation project manager will support a customer's entire cash management relationship, serving as a single point of contact. As customers select new cash management services or change aspects of their existing services, the customer will work directly with the implementations project manager to ensure accuracy and complete satisfaction.

Additionally, implementations project managers will check in with customers after their service has been in use for a reasonable amount of time to ensure their continued satisfaction with their service setup. For more complex service implementations, such as retail lockbox, specialized teams of Technical Project Managers have been established to provide product-specific expertise. Throughout the set-up process, the sales consultants and relationship managers can monitor progress and receive implementation status reports online.

"The biggest impact we've experienced is increased efficiency in setting up agent locations for EFT (electronic funds transfer)," said Brian Weaver, director of billing services for Penn National Insurance, a cash management customer of First Union. "Our implementations project manager is in constant contact with us and understands our needs. That has translated into dramatic improvements in turn-around time on our EFT requests and increased willingness of our agents to use EFT."

"In the past, a customer would have to communicate his needs or changes to a sales person, who in turn would tell an implementations team member, slowing down the process and leaving room for errors," Crawford said. "Today, the implementations project manager is a member of the sales relationship team and will work directly with the same group of customers to manage all set-ups for those relationships. Having the customer in direct, ongoing contact with an implementations professional ensures a smooth service installation and first-rate service delivery."

Electronic commerce, Internet services, nationwide lockbox processing and a variety of PC-based options are among the many cash management services available at First Union. First Union offers a full-range of collection, disbursement, information reporting and electronic commerce services designed to improve day-to-day efficiency of company treasury operations and maximize company return on cash assets. First Union's cash management products have earned top marks in surveys by Ernst & Young. First Union is the third-largest cash management bank in the country, according to Ernst & Young.
About First Union Corporation
First Union (NYSE:FTU), with $253 billion in assets at December 31, 1999, 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 the District of Columbia and full-service brokerage offices in 41 states. Online banking products and services can be accessed through www.firstunion.com

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