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DFSE SHAREHOLDERS APPROVE MERGER

 DECATUR, Ga., Dec. 29 /PRNewswire/ -- At a special meeting held earlier today, shareholders of DFSoutheastern, Inc. (NASDAQ-NMS: DFSE), the holding company for Decatur Federal, gave their approval to merge DFSoutheastern, Inc. into a wholly owned subsidiary of First Union Corporation of Charlotte, N.C. (NYSE: FTU).
 On June 29, First Union announced an agreement to acquire the $2.6 billion-asset parent of Decatur Federal. Jan. 15, 1993, is currently slated as the effective merger date, pending other customary conditions of closing, including certain regulatory approvals.
 Decatur Federal has 33 branch locations throughout metropolitan Atlanta and north Georgia. First Union is the nation's 12th-largest bank holding company, based on assets of $48.3 billion (excluding pending acquisitions) as of Sept. 30, 1992, and as of such date operated 898 banking offices in Florida, North Carolina, South Carolina and Georgia, one banking office in Nashville, Tenn., and 300 nonbanking offices in 36 states.
 -0- 12/29/92
 /CONTACT: Susan Paul Smith, public relations of DFSoutheastern, 404-371-4411/
 (DFSE FTU)


CO: DFSoutheastern, Inc.; First Union Corporation ST: Georgia, North Carolina IN: FIN SU: TNM

BN-RA -- AT005 -- 0288 12/29/92 10:40 EST
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Publication:PR Newswire
Date:Dec 29, 1992
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