First Union Capital Partners Leads $80 Million Investment in Agilera

    CHARLOTTE, N.C., July 27 /PRNewswire/ -- First Union Capital Partners
 (FUCP) today announced it has led an $80 million second equity financing for
 Agilera, a leading full-service pure-play application service provider (ASP).
 First Union Capital Partners led this round of financing which will be used to
 fuel the expansion of the company's general operations, including the
 development of its state-of-the-art operations centers and the expansion of
 its business model.
     Agilera raised a total of $80 million in convertible preferred stock.
 Other investors included Verio Inc., Centennial Ventures, Providence Equity
 Partners, Lonetree Partners and C.E. Unterberg, Towbin.  Agilera has also
 invited David Scanlan, principal in First Union Capital Partners, to join the
 Agilera Board of Directors.
     First Union Capital Partners is the equity and mezzanine capital
 investment group funded by First Union Securities.  The group was founded in
 1988 and currently has sixteen investment professionals.  FUCP has committed
 $2 billion of direct equity and mezzanine investments in more than 140
 companies.  Industry focus includes Media, Telecom and Internet
 Infrastructure, Technology and IT Services, Financial Services, Healthcare,
 Natural Resources, and Diversified Industries.
     Agilera is a full-service, pure-play application service provider (ASP)
 that provides a flexible hosting platform for IT and e-business operations.
 Agilera's Extended Enterprise (XE)(TM) and Extended Platform (XP)(TM) products
 deliver an integrated set of software applications that offer a bundled end-
 to-end solution-all through a customizable browser interface.  Agilera,
 originally formed by CIBER, Inc. (, the trusted technology
 leader transforming businesses to be agile, scalable and connected, was
 recapitalized in March 2000 through equity investments by Verio Inc.
 (, the world's largest Web-hosting company, and Centennial
 Ventures (, Colorado's largest venture capital firm.
 Agilera provides customers the velocity for faster time to market, as well as
 " agility and Fortune 500 stability(TM)."  The company is headquartered
 in Englewood, Colorado.  Agilera's Web site is
     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
 41 states and international offices worldwide.  Online banking products and
 services can be accessed through
     Important Notice: First Union Securities is the trade name under which
 First Union Corporation conducts its investment banking, merger and
 acquisition, asset management and mutual fund, brokerage and insurance
     First Union Securities includes: (1) First Union Securities, Inc.
 ("FUSI"), a registered broker-dealer and member NYSE/NASD and SIPC providing
 investment banking, merger and acquisition advisory  and brokerage services to
 corporations, individuals and other institutions throughout the United States;
 (2) First Union Brokerage Services, Inc. ("FUBS"), a separately registered
 broker-dealer and member NASD and SIPC providing primarily retail brokerage
 services; (3) First Clearing Corporation ("FCC"), a separately registered
 broker-dealer and member NYSE/NASD and SIPC,  providing securities clearance
 and settlement services; (4) the Capital Markets and Capital Management Groups
 within First Union National Bank ("FUNB"), a national banking association, and
 its subsidiaries, providing asset management, lending, structured finance risk
 management, derivatives, and fiduciary services to institutions and
 individuals; (5) various subsidiaries within First Union Corporation providing
 investment advisory, administrative and other services to the Evergreen and
 Mentor families of mutual funds; and (6) various wholly-owned state insurance
 agencies; and (7) First Union Capital Partners ("FUCP"), offering mezzanine
 capital through FUNB and equity capital through subsidiaries of First Union
     Stocks, bonds, mutual funds or other securities offered or sold through
 First Union Corporation or any of its bank or non-bank subsidiaries are not
 deposits of any bank and are not insured, guaranteed or otherwise protected by
 the Federal Deposit Insurance Corporation or any other government agency; are
 not endorsed or guaranteed by First Union Corporation, FUNB or any bank; and
 involve investment risk, including possible loss of principal.
     The securities referred to herein have not been registered under the
 Securities Act of 1933 and may not be offered or sold in the United States
 absent registration or an applicable exemption from the registration
 requirements of such Act.  All of such securities have been sold and this
 press release does not constitute an offer to sell or the solicitation of an
 offer to buy any of the securities.

SOURCE First Union Corporation

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