PRESS RELEASES

Contact: Donna Smart Stockton
(704) 374-6999

March 07, 1997
First Union Becomes the Financial Choice of the Braves' and Turner Field
Adds Atlanta Braves to Family of Sports Sponsorships

ATLANTA/CHARLOTTE - The Atlanta Braves are First Union Corporation's newest addition to its family of world-class professional sports underwritten by marketing agreements. For the next five years, First Union will be the only financial services company to sponsor the Braves, with a renewal option in 2002.

The Braves join other teams and professional sports events sponsored by First Union, including the Charlotte Hornets NBA basketball team; the Jacksonville Jaguars and the Miami Dolphins NFL football teams; the Tampa Bay Devil Rays major league baseball team and NASCAR with a Winston Cup race car.

"The Atlanta Braves organization is a lot like First Union," said John R. Georgius, the corporation's vice chairman. "They have built their organization from the ground up, they are a solid contender and are a good bet for the future."

The sponsorship includes exclusivity of First Union's six 24-hour banking machines (ATMs) to be installed in March inside the stadium at Turner Field; signage on the main scoreboard at Turner Field; promotional print advertising exclusivity inside the stadium; merchandising rights to Atlanta Braves marks and logos; affinity checks and strong national and regional broadcast advertising on WTBS, Fox SportSouth and WSB Radio Network.

David M. Carroll, First Union's Georgia chairman, president and chief executive officer, made the announcement to a statewide group of Georgia employees at a recent statewide sales meeting. "The Atlanta Braves are one of the premier teams in all of professional sports," said Carroll. "They are good for Georgia and good for the Southeast - they are here for the long haul and so are we."

Alvin T. Sale, First Union's executive vice president for marketing and strategic planning, said the value added by the Braves' media presence was also a key factor in finalizing the sponsorship decision.

"The Atlanta Braves' image supports our brand advertising, as smart, innovative. Their charisma gives them a stand-alone presence that synergizes with our plans for the future," Sale said.

Terms of the sponsorship were not disclosed by mutual agreement of First Union, the Atlanta Braves organization, and Turner Field, the former Olympic stadium and the new home of the Atlanta Braves.

The Atlanta Braves' minor league teams are the Richmond Braves (VA); the Greenville Braves (SC); the Durham Bulls (NC); the Macon Braves (GA) and the Eugene Emeralds (OR). Rookie League teams are the Danville Braves (VA); the Gulf Coast League Braves (FL) and the San Pedro de Macoris in the Dominican Republic.

At December 31, 1996, First Union (NYSE: FTU) had assets of $140 billion. Total stockholders' equity was $10 billion. The company operates full-service banking offices in Connecticut, Delaware, Florida, Georgia, Maryland, New Jersey, New York, North Carolina, Pennsylvania, Virginia, South Carolina, Tennessee and Washington, D.C.

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