ADVISORY/Hibernia and Fannie Mae to Announce Major Housing Initiative for Low- and Moderate-Income Families at Mortgage Conference in Baton Rouge.

News/Assignment Editors

ADVISORY...for Friday (March 22)

--(BUSINESS WIRE)

Friday, March 22, 2002

Radisson Hotel, 4728 Constitution Ave., Baton Rouge 

Media invited: 9 a.m. to 1:30 p.m., Announcement: 11 a.m. CST 

Thousands of low- and moderate-income home-owners throughout Louisiana and East Texas, including the Dallas-Ft. Worth area, will benefit from a multi-billion-dollar initiative that will be announced Friday, March 22, at Hibernia National Bank's seventh annual mortgage rally in Baton Rouge. Hibernia, Louisiana's largest mortgage-lender and a top-50 mortgage company nationally, and Fannie Mae, the nation's largest source of home mortgages, will unveil the details of this program, which will help more people buy homes.

The annual Hibernia event brings together hundreds of mortgage and other top bank officers from Louisiana, East Texas and Mississippi to assess the market for the coming year. Hibernia President and CEO Herb Boydstun will update employees on the state of the bank and new initiatives for 2002. This year's rally theme is "Building the American Dream."

Hibernia Mortgage Rally: Schedule

All meetings will be held in Premier Ballroom III except the luncheon, which is in Premier Ballroom II. The press room is located directly across from the ballroom in the Executive Boardroom.

9-10 a.m. CST     Opening Comments & CEO Address
                  Paul Peters, president, Hibernia Mortgage Banking
                  Herb Boydstun, president and CEO, Hibernia
                  National Bank

10:30-11 a.m.     Building the American Dream
                  Mercy Jimenez, senior vice president, Southwest
                  Region, Fannie Mae

11-11:30 a.m.     Hibernia and Fannie Mae to Announce New Housing
                  Initiative
                  Peters, Jimenez; Kirk Domingos, senior executive
                  vice president for retail arena and technology; and
                  Willie Spears, president, Hibernia Community
                  Development Corp.

11:30 a.m.        Interview availability: Peters, Jimenez and Spears,
                  press room

Noon-1:30 p.m.    An American Hero Shares His Story:  U.S. Air Force
                  Capt. Scott O'Grady
                  Talk to begin about 12:30 p.m.

Hibernia is Louisiana's leading mortgage lender, funding and closing 33,646 loans for nearly $4.5 billion in 2001. In 2000, Hibernia led the state for the sixth straight year in the number, dollar amount and market share of mortgages written in 2000, the most recent year for data from the Mortgage Bankers Association (MBA). Hibernia led the state with 21,303 mortgages written and captured 10.9% of the market. Hibernia also closed more than $800 million in mortgages, for an 11% market share. Hibernia's nearest competitor closed 3,368 mortgages, for a 3.2% market share, and $337 million in loans, for a 4.6% share. Hibernia, a Forbes 500 company, has $16.6 billion in assets and 258 locations in 34 Louisiana parishes, 16 Texas counties and two Mississippi counties. Hibernia Corporation's common stock (HIB) is listed on the New York Stock Exchange.

Media Contact: Kay Brief at 877/568-1233 (toll-free) or 504/568-1233 (New Orleans)

Please call to attend all or part of these sessions. The rally is not open to the public; attendance is by invitation only.