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CAROLINA FIRST CORPORATION RECEIVES PERMISSION TO ACQUIRE ADDITIONAL COMSOUTH BANKSHARES, INC. COMMON STOCK

 CAROLINA FIRST CORPORATION RECEIVES PERMISSION TO ACQUIRE
 ADDITIONAL COMSOUTH BANKSHARES, INC. COMMON STOCK
 GREENVILLE, S.C., Oct. 27 /PRNewswire/ -- Carolina First Corporation (NASDAQ-NMS: CAFC) reported today that it had received permission from the Federal Reserve permitting the exercise of its option to acquire an additional 4.9 percent of ComSouth Bankshares, Inc.'s common stock. When completed this purchase will bring Carolina First's total investment in ComSouth to 9.8 percent.
 In July, Carolina First had purchased 4.9 percent of the common stock of ComSouth and announced that it had an option to acquire an additional 4.9 percent after receipt of approval from the Federal Reserve. At that time Carolina First further announced that it was interested in acquiring all or part of ComSouth.
 Mack I. Whittle, Jr., President of Carolina First, said, "We are pleased with the actions of the Federal Reserve. We continue to be interested in acquiring all or part of ComSouth and feel that this would be in the best interest of ComSouth stockholders."
 Carolina First Corporation is a $504 million asset financial institution holding company that offers a broad range of commercial and consumer financial services through its two subsidiaries, Carolina First Bank and Carolina Fist Savings Bank. Carolina First Bank is a state- chartered commercial bank that operates eight branches principally in northwestern South Carolina. Carolina First Savings Bank, headquartered in Georgetown, S.C., is a federally chartered savings bank with eight branches in coastal South Carolina.
 Carolina First's common stock is traded in the Nasdaq National Market under the trading symbol CAFC; its preferred stock is traded over-the-counter under the symbol CAFCP. Market makers include J.C. Bradford & Co., Interstate/Johnson Lane Securities, The Robinson- Humphrey Company, Inc., and Wheat First Securities, Inc.
 -0- 10/27/92
 /CONTACT: William S. Hummers, III, Carolina First Corporation, 803-255-7913/
 (CAFC) CO: Carolina First Corporation ST: South Carolina IN: FIN SU:


MM -- CH003 -- 5255 10/27/92 09:48 EST
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Publication:PR Newswire
Date:Oct 27, 1992
Words:325
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