PRESS RELEASES

Contact: Tara Bullock
(704) 383-8164

October 01, 1998
First Union Makes Electronic Bill Presentment and Bill Payment a Reality
BellSouth and Florida Power & Light Customers Can Have Bills Presented Online

CHARLOTTE, NC - First Union is the country's first financial services provider to offer customers online bill presentment and bill payment of utility bills with just the click of a mouse. Bill presentment is First Union's latest online innovation and is yet another example of the company's commitment to developing Internet based services.

"Online bill presentment is now an exciting reality!" said Jack Antonini, head of the First Union Consumer Banking Group. "Bill presentment fits hand-in-glove with First Union's retail strategy of winning customers for life. Our customers have told us that they want to access and manage their finances when, where and how they choose. Our online services continue to expand in ways that meet their changing needs."

First Union customers with accounts at BellSouth and Florida Power & Light Company (FPL) can now receive and pay their bills on the Internet. First Union customers will automatically be notified when their BellSouth and/or FPL bill is delivered when they sign on to Cyberbankingsm BillPay.

"BellSouth is proud to be on the cutting edge of this exciting technological advancement," said Joseph Schultz, vice president of Consumer Marketing for BellSouth Telecommunications, Inc. "We are enthusiastic about working with First Union to enable customers to use the Internet for bill presentment and bill payment. It is a convenient time saver for our customers, and we hope they will take advantage of this groundbreaking opportunity."

"As Florida's largest utility provider we are committed to providing convenience, quality and the most technologically advanced products and service to more than 3.7 million customers," said Jack Gomm, FPL's director of customer billing. "First Union's online bill presentment and payment option will enhance and work seamlessly with our current electronic bill-paying services."

Using CheckFree's E-Bill Service through First Union's Cyberbanking BillPay, First Union customers will have the option of receiving and paying their bills online from a growing list of merchants across the country. Cyberbanking BillPay features also include the ability to schedule payments of bills up to one year in advance, schedule one time and recurring payments, receive bills from selected merchants electronically and categorize and sort bills based on customer preference. No checks to sign, stamps to lick or trips to the mailbox.

First Union Corporation (NYSE:FTU) is a leading provider of financial services to more than 16 million retail and corporate customers throughout the East Coast and the nation. First Union is the nation's sixth largest bank holding company, based on assets of $229 billion as of June 30, 1998, and ranks among the top 15 financial services companies in the world, based on market capitalization. The company operates full-service banking offices in twelve states and Washington, D.C.

--FTU--

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