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Miami Couple Wins $25,000 in First Union "CAP Account Investment Challenge" MIAMI, Fla. - -Dennis and Judy Jones of Miami are the winners of the First Union CAP Account Investment Challenge grand prize. After outperforming more than 2,480 competitors in the Dade and Monroe areas, they will be awarded a "big check" for $25,000 during a surprise visit today by Carlos Migoya, First Union area president. In April, First Union launched the CAP Account Investment Challenge as a unique program, open to the public, encouraging Florida residents to learn about investment tools, increasing awareness of First Union's combined banking and investment account, and supporting local Reading is Fundamental((RIF) chapters, (First Union made a cash donation for each contest applicant.) Applicants "invested" $15,000 in "fun" money by choosing three New York Stock Exchange (NYSE) stocks. Because the contest focused on investing, applicants had to keep their initial stock picks for the duration of the contest. The CAP Account Investment Challenge raised more than $5,480 to be donated to local RIF initiatives as part of First Union's Excellence in Education program, a component of First Union's "Keep Florida Green" campaign. RIF is the oldest and largest children's literacy nonprofit organization in the United States. The Jones' "stock portfolio" increased in value by 36.97 percent, netting them first place. The second place portfolio was a 25.83 percent increase. The contest lasted from April 6, 1998 until May 1, 1998. First Union Corporation (NYSE:FTU) is the nation's sixth largest bank holding company and a leading provider of financial services to more than 16 million retail and corporate customers along the East Coast and throughout the nation. At March 31, 1998, First Union had assets of $220 billion. Total stockholders' equity was $16 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. OTHER DATA:
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