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CENTER FOR COMMUNITY SELF-HELP TO ESTABLISH NON-PROFIT OFFICE CENTER IN FORMER FIRST UNION BUILDING

 GREENSBORO, N.C., April 27 /PRNewswire/ -- First Union National Bank of North Carolina has agreed to sell its 10-story office tower at Elm Street and Friendly Avenue in downtown Greensboro to the Center for Community Self-Help. Terms of the sale were not disclosed.
 Self-Help plans to establish a non-profit office center in the building that will enable tenant organizations to share office space and other resources. The building will also house an office of the Self- Help Credit Unioc?h supports housing, small business and community development projects for low-income, minority and rural residents throughout North Carolina who might not qualify for traditional financing.
 "This is an innovative approach to help non-profit organizations pool their resources," said Martin Eakes, executive director of the Center for Community Self-Help and president of the Self-Help Credit Union. "By sharing facilities such as conference rooms, copiers and other equipment, these groups can reduce their administrative costs and redirect valuable resources back to the community."
 Jerry Highsmith, First Union's Greensboro regional executive, said, "We're pleased to play a part in helping bring the Center for Community Self-Help to Greensboro. First Union shares their commitment to helping nonprofit organizations grow and strengthening the entrepreneurial network in our community. It's great to be able to do that in a way that also enhances downtown Greensboro."
 The 88,000-square-foot building was built in 1969 and includes a two-story entrance atrium, six floors of office space and penthouse restaurant facilities. Non-profit organizations interested in locating in the building should call Michael Schiftan at 919-272-8102 or Katherine Stern at 919-274-4129.
 Since its establishment in 1980, the Self-Help Credit Union has made nearly $40 million in loans to North Carolinians through its offices in Durham, Charlotte, Asheville and Greenville.
 First Union National Bank of North Carolina supports more than a dozen loan consortiums and partnerships to encourage community development throughout the state. The bank is a principal subsidiary of Charlotte-based First Union Corporation (NYSE: FTU FTUpr) and operates 269 offices in North Carolina.
 -0- 4/27/93
 /CONTACT: (Media) Sandy Deem of First Union Corporation, 704-374-2710/
 (FTU)


CO: First Union National Bank of North Carolina; First Union
 Corporation ST: North Carolina IN: FIN SU:


MM -- CH001 -- 1136 04/27/93 08:31 EDT
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Date:Apr 27, 1993
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