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Media Contact:   Sarah Holden
(704) 383-7157

September 19, 2000
First Union Names Davis President of Atlantic Region

SUMMIT, NJ -- First Union today announced that Reginald E. Davis has been named president of the company's Atlantic Region, which includes New Jersey, New York and Connecticut. He will succeed Robert Reid, who was recently named president for the Pennsylvania/Delaware Region. Both transitions will be effective at year-end.

Since joining the company in 1985, Davis has held several leadership positions that include senior vice president for commercial real estate in Georgia, president of Georgia's West Region and his current role of General Bank executive for First Union-Georgia.

"Reggie has a vast knowledge of the banking industry and is keenly aware of what it takes to be successful in a challenging, competitive market," said Ben Jenkins, First Union Corp. vice chairman and head of the General Bank. "His proven track record of performance, dedication to the customer and strong commitment to serving the community make him well-suited to lead our efforts in the Atlantic Region."

A native of Bloomfield, Conn., Davis is a graduate of Morehouse College with a bachelor's degree in insurance and actuarial science. He was named General Bank executive for Georgia in 1998. In that role, he has championed more than $70 million in affordable housing for low-income families in Atlanta. He is active in the community as chairman for Girls, Inc., board member for Communities in Schools and board member for Partners for Excellence in Education.

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.


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