First Union Selects Convergent Media Systems to support FirstNet satellite video broadcast network.

Business Editors & High Tech Writers

ATLANTA--(BUSINESS WIRE)--Aug. 18, 2000

    --  2,100-site FirstNet delivers consistent messages, real-time
        contact to over 70,000 employees

    --  FirstNet also supports learning and corporate communications
        programs

Convergent Media Systems, a leading applications service provider of satellite-delivered Internet Protocol (IP) video, broadband and interactive e-learning solutions for training, education and communications, today announced its selection by First Union to support the 2,100-site FirstNet satellite video broadcast network. The contract is for five years.

For over seven years, FirstNet has delivered consistent messages and real-time contact to over 70,000 employees at branch banks, service centers and regional offices. Broadcasts support ongoing earning and corporate communications programs, such as:

      --  new employee training on policies and procedures

      --  information on HR benefits

      --  corporate training

      --  executive messages to share information about corporate goals
        and objectives

      --  announcements of new ad campaigns and corporate marketing
        initiatives

"First Union employees rely on FirstNet for everything from new employee training to guidance through corporate mergers," said Jim Brzycki, manager, employee television network, First Union. "FirstNet helps them feel better connected to management. Similarly, programming targeted to customers helps them feel better connected to the bank."

Convergent is responsible for maintaining the 2,100 satellite receive sites already equipped to receive network broadcasts, and for installing satellite reception equipment at new bank branches. In addition, Convergent will provide transmission management, help desk services, engineering and technical support, dispatch services and satellite space segment.

"Convergent's objective is to help our clients leverage technology to develop an aligned team with world-class skills, knowledge and sales and marketing capabilities," said Convergent President & CEO Jeff Freemyer. "We are proud to be selected by First Union as the best company to support their communications and adult learning needs. This project will build the Internet Protocol (IP)-based platform for First Union so that it can eventually deliver video on demand communications to the desktops of its employees."

First Union (NYSE:FTU), with $258 billion in assets and stockholders' equity of $14 billion at June 30, 2000, 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 12 East Coast states and Washington, D.C., and full-service brokerage offices in 41 states and international offices worldwide. Online banking products and services can be accessed through www.firstunion.com.

Convergent is the leading full-service provider of satellite video networks for businesses, government and state education and programming organizations. The company also provides satellite-delivered Internet Protocol (IP) video, broadband and interactive e-learning solutions. These solutions speed the delivery of training, education and communications throughout extended enterprises and educational systems.