First Union Lowers Prime Rate

Apr 18, 2001, 01:00 ET from First Union Corporation

    CHARLOTTE, N.C., April 18 /PRNewswire/ -- First Union Corporation
 (NYSE:   FTU) announced today that it is lowering its prime interest rate to
 7.5 percent from 8.0 percent at all of its banks, effective tomorrow,
 April 19, 2001.  The prime rate is a benchmark used to set interest on various
 forms of corporate and consumer credit.  The prime rate last changed on
 March 21, 2001.
 
     About First Union Corporation
     First Union (NYSE:   FTU), with $253 billion in assets and stockholders'
 equity of $16 billion at March 31, 2001, 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
 11 East Coast states and Washington, D.C., and full-service brokerage offices
 in 47 states.  Online banking products and services can be accessed through
 www.firstunion.com.
 
 

SOURCE First Union Corporation
    CHARLOTTE, N.C., April 18 /PRNewswire/ -- First Union Corporation
 (NYSE:   FTU) announced today that it is lowering its prime interest rate to
 7.5 percent from 8.0 percent at all of its banks, effective tomorrow,
 April 19, 2001.  The prime rate is a benchmark used to set interest on various
 forms of corporate and consumer credit.  The prime rate last changed on
 March 21, 2001.
 
     About First Union Corporation
     First Union (NYSE:   FTU), with $253 billion in assets and stockholders'
 equity of $16 billion at March 31, 2001, 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
 11 East Coast states and Washington, D.C., and full-service brokerage offices
 in 47 states.  Online banking products and services can be accessed through
 www.firstunion.com.
 
 SOURCE  First Union Corporation