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CAROLINA FIRST RECEIVES OUTSTANDING CRA RATING

 GREENVILLE, S.C., April 8 /PRNewswire/ -- Carolina First Corporation (NASDAQ-NMS: CAFC) announced that Carolina First Bank has received an "outstanding" rating for its Community Reinvestment Act (CRA) participation.
 James W. Terry, Jr., president of Carolina First Bank, stated: "CRA guidelines are intended to encourage financial institutions to help meet the needs of the communities they serve. We view the Community Reinvestment Act as an opportunity to foster the growth of our community, and not as a regulatory burden imposed on banks. Everyone throughout this organization understands our commitment to all of our customers in the communities we serve."
 The Federal Deposit Insurance Corporation, the bank's supervisory agency, is responsible for evaluating the bank's performance within the guidelines of the 1977 CRA and assigning a rating. Outstanding is the highest rating that a bank can receive.
 Carolina First Bank has established Citizens' Advisory Committees in each of its markets to determine existing and emerging credit needs and to specifically address unmet needs of low- to moderate-income individuals. In response to identified needs, Carolina First Bank has tailored specific products to assist in the economic development of low- to moderate-income areas. For example, a special fund of $1 million has been established to promote home ownership, another fund of $500,000 is targeted for home improvement loans, and a savings product with cash bonuses has been offered to promote home ownership for first-time buyers.
 Carolina First Bank, a subsidiary of Carolina First Corporation, is a state-chartered commercial bank that operates 22 branches throughout South Carolina. Carolina First Corporation's preferred stock trades over-the-counter under the symbols CAFCP and CAFCO. Market makers include J.C. Bradford & Co., Interstate/Johnson Lane, The Robinson- Humphrey Company, Inc. and Wheat First Butcher and Singer.
 -0- 4/8/93
 /CONTACT: William S. Hummers, III, Carolina First Corporation, 803-255-7900/
 (CAFC)


CO: Carolina First Corporation ST: South Carolina IN: FIN SU:

MM-SB -- CH006 -- 4139 04/08/93 10:08 EDT
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Publication:PR Newswire
Date:Apr 8, 1993
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