First Union Completes Acquisition Of Bowles Hollowell Conner

May 01, 1998, 01:00 ET from First Union Corporation

    CHARLOTTE, N.C., May 1 /PRNewswire/ - First Union Corporation (NYSE:   FTU)
 has completed its previously announced acquisition of Bowles Hollowell Conner
 & Co., a leading investment banking firm headquartered in Charlotte.
     "Bowles Hollowell is a substantial addition to our investment banking
 platform," said Ken Thompson, executive vice president and co-head of First
 Union's Capital Markets Group.  "Their well-established merger and acquisition
 advisory capabilities, combined with their strong private equity group
 relationships will immediately enhance our ability to serve clients and
 leverage our comprehensive capital markets product line."
     First Union's existing M&A group will combine with Bowles and operate
 under the name Bowles Hollowell Conner & Co., a division of First Union
 Capital Markets Group, and will be led by Steve Cummings, chairman and CEO of
 Bowles Hollowell Conner.
     First Union provides a comprehensive range of capital markets solutions
 including merger and acquisition advisory, high yield finance, leveraged
 finance, equity underwriting, private placements, loan syndication's, risk
 management and public finance.
     First Union is a leading provider of financial services to more than 16
 million retail and corporate clients throughout the East Coast and the nation.
 It is the sixth-largest bank holding company in the US. with assets of $172
 billion at  March 31, 1998.

SOURCE First Union Corporation