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CAROLINA FIRST COMPLETES ACQUISITION OF 3 BRANCHES IN COLUMBIA

 GREENVILLE, S.C., Jan. 3 /PRNewswire/ -- Carolina First Corporation (NASDAQ-NMS: CAFC) today announced the completion of the acquisition of the three branches of Omni Savings Bank, FSB in Columbia. The three locations represent approximately $40 million in new deposits.
 Mack I. Whittle, President and Chief Executive Officer of Carolina First Corporation, said: "With the acquisition of the three Omni branches, Carolina First has nine branches in the Greater Columbia area. The Omni branches fit well with our existing locations and will expand Carolina First's presence in Columbia. This will provide us a greater presence to bring our special brand of service to customers in Columbia. The Columbia market is important to us as we continue our expansion as a statewide financial institution."
 In early 1993, Carolina First opened its Midlands regional headquarters located at the corner of Sumter and Lady streets in downtown Columbia. This regional headquarters houses the Company's investment and operations divisions. During the third quarter of 1993, Carolina First entered into an agreement to acquire seven additional branches from Republic National Bank, two of which are located in Columbia. After this acquisition, Carolina First will operate 42 branches in 26 communities in South Carolina with assets expected to be in excess of $1 billion. This acquisition, which is subject to regulatory approval, is expected to be completed by March 1994.
 Carolina First Corporation, headquartered in Greenville, offers a broad range of commercial, consumer and mortgage financial services through three subsidiaries, Carolina First Bank, Carolina First Savings Bank, and Carolina First Mortgage Company. Carolina First Bank is a state-chartered commercial bank that operates 25 branches throughout South Carolina. Carolina First Savings Bank, headquartered in Georgetown, is a federally chartered savings
bank with ten branches in coastal South Carolina. Carolina First Mortgage Company engages in mortgage banking activities.
 Carolina First's stock trades over-the-counter under the symbol CAFCO. Market makers include J.C. Bradford & Co., Interstate/Johnson Lane, Morgan Keegan, Robinson Humphrey Co. Inc., Sterne Agee & Leach, and Wheat First Securities.
 -0- 1/3/94
 /CONTACT: William S. Hummers III of Carolina First, 803-255-7900/
 (CAFC)


CO: Carolina First Corporation; Omni Savings Bank, FSB ST: South Carolina IN: FIN SU: TNM

JM -- CH005 -- 8598 01/03/94 15:40 EST
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Publication:PR Newswire
Date:Jan 3, 1994
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