BB&T Corporation Selects Covus - A FormScape Solution; Specialized Document Management Solution Automates Production Document Processes for Better Client-Facing Communication.

Business Editors/High-Tech Writers

RALEIGH, N.C.--(BUSINESS WIRE)--March 23, 2004

FormScape(R), the leader in helping companies streamline their business by automating information processes, today announced that BB&T has selected Covus(TM) -- a FormScape software solution -- to automate client-facing production document processes. BB&T, a highly profitable financial holding company with more than $90.5 billion in assets, required a more efficient and easier to use production document environment. Covus helps companies optimize their business by transforming fragmented data, documents and activities into integrated information processes.

Because BB&T's banking subsidiaries are organized as a group of community banks and therefore are closer to the customer, maintaining a high level of personalization and reliable customer service is extremely important. Responding to an increasing need for increased flexibility and more customized document processing capabilities, BB&T will implement the Covus solution. This specialized document management solution will give BB&T the flexibility to generate, index, store, retrieve and distribute high volume, highly-customized documents including financial reports, checks, invoices, Automated Clearing House (ACH) for direct deposits, and more. BB&T expects Covus to be rapidly implemented by the end of April 2004 and anticipates the payroll team will save at least an hour a day on document processing.

"FormScape's excellent reputation among its customers, combined with its overall functionality, flexibility and ease of use made it the logical choice for BB&T, " said Greg Cahill, BB&T Payroll Services. "The Covus solution will work in tandem with our existing enterprise software to automate and customize our document process, allowing us to quickly meet our business goals of lowering costs and providing a superior level of customer service."

"Covus was designed with the ultimate goal of helping organizations become more efficient in their business information processes," said Malcolm Peden, CEO of FormScape. "Across the banking, finance and insurance industries, where customization is key, we consistently find opportunities to help companies meet new initiatives for client-facing communication. We are looking forward to working with BB&T to help them meet these goals. "

About BB&T

Winston-Salem, N.C.-based BB&T Corporation and its subsidiaries offer full-service commercial and retail banking and additional financial services such as insurance, investments, retail brokerage, corporate finance, international banking, leasing and trust. BB&T operates more than 1,350 banking offices in the Carolinas, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana and Washington, D.C. On Dec. 31, BB&T had $90.5 billion in assets and was the nation's 13th largest financial holding company. For more information please visit www.bbandt.com.

About FormScape

FormScape is dedicated to helping companies streamline business information processes across their customers, suppliers and employees. FormScape specialized document management solutions enable companies to easily and rapidly create, manage and communicate critical production business documents seamlessly at the convergence of print, electronic and multiple data systems. By empowering consistent communication, FormScape customers experience new cost efficiencies, enhanced revenue opportunities, rapid response to change and advanced customer service and satisfaction.

Founded in 1991 with more than 7000 customers and 50 partners worldwide, FormScape leverages key vendor relationships including HP, IBM, J.D. Edwards, Microsoft, PeopleSoft, Oracle, SAP and Sun. FormScape delivers globally in banking, finance, insurance, distribution, manufacturing, and healthcare industries with clients including AMD, BP, Barclays, Black & Decker, DaimlerChrysler, GSK Consumer Healthcare, Johnson & Johnson, JPMorgan Chase, Ingram Micro, JVC, and Siemens. For more information please visit www.formscape.com.