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CENTRAL FIDELITY INCREASES COMMITMENT TO EDUCATION IN VIRGINIA

 CENTRAL FIDELITY INCREASES COMMITMENT TO EDUCATION IN VIRGINIA
 RICHMOND, Va., May 13 /PRNewswire/ -- At its annual Meeting of Shareholders, Central Fidelity Banks, Inc. (NASDAQ-NMS: CFBS) Chairman and Chief Executive Officer, Carroll L. Saine, today announced plans for the bank to triple its current financial commitment to education programs within Virginia.
 Central Fidelity will direct $300,000 and employee volunteer support to the following during the 1992-93 school year:
 - A tutorial program for at-risk elementary school children.
 - Community college and minority scholarships at Virginia higher
 learning institutions.
 - An adopt-a-school program, in which bank employees serve as
 mentors and provide assistance in classrooms.
 The tutorial program is being implemented in conjunction with the State Department of Education. The program provides one-on-one tutorial assistance for students from certified teachers and community volunteers.
 The scholarship program will provide 50 percent of tuition to recipients at Saint Paul's College, Hampton University, Howard University, Norfolk State, Virginia State and Virginia Union Universities. Scholarships for full tuition are also available to 29 students at 12 selected community colleges.
 Central Fidelity's adopt-a-school program provides 10 Virginia elementary schools with a combination of classroom mentors, special project funding and banking experience. Bank employees volunteer thousands of hours each year to act as classroom and individual mentors and to staff the KidsBank office at each school.
 Central Fidelity has set a goal to increase funding to educational programs in Virginia by $100,000 annually until a level of $1 million is reached by the end of the decade.
 Central Fidelity Banks, Inc. is Virginia's fifth largest bank holding company with 205 offices and $6.8 billion in assets.
 -0- 5/13/92
 /CONTACT: Peggy Cummings, Public Relations Manager, Central Fidelity Banks, Inc., 804-697-7261/
 (CFBS) CO: Central Fidelity Banks, Inc. ST: Virginia IN: FIN SU:


DF -- CH009 -- 9880 05/13/92 16:15 EDT
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Publication:PR Newswire
Date:May 13, 1992
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