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Contact:   Tara Bullock
(704) 383-8164

July 22, 1998
First Union Hires Bill Binneveld As Personal Trust Specialist

TAVARES, FLA. - Bill Binneveld has joined the First Union Capital Management Group as a vice president, personal trust and investment specialist in Tavares, Florida. He joins First Union with more than 20 years of trust and investment planning experience.

Binneveld's area of expertise include trust, estate, financial and investment planning. He works closely with clients, attorneys and tax advisors developing financial plans and goals. As a trust specialist for the Tavares area, Binneveld will serve clients throughout Lake and Sumter counties.

A native of Lake County, Florida, Binneveld is a graduate of Georgia Southwestern State University with a BS in Business Administration. He is involved in local community and professional organizations as a member of the Mid Florida Estate Planning Council and as director for Hospice of Lake and Sumter Inc. Binneveld resides in Leesburg, Florida with his wife and two daughters.

Binneveld's office is in the First Union Financial Center located at 122 East Main Street, Tavares, Florida. He can be reached at 352-742-3690.

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. At June 30, 1998, First Union had assets of $229 billion and total stockholders' equity was $17 billion. The company operates full service banking offices in Connecticut, Delaware, Florida, Georgia, Maryland, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia and Washington, D.C.

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