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DOMINION BANKSHARES SHAREHOLDERS APPROVE FIRST UNION MERGER

 ROANOKE, Va., Dec. 22 /PRNewswire/ -- At a special Dominion Bankshares Corporation (NASDAQ-NMS: DMBK) shareholder meeting held today, holders of Dominion ($5 par value) Common Stock and Dominion (Series A, $2.50) Cumulative Preferred Stock approved the Agreement and Plan of Merger dated Sept. 20, 1992, and the related Plan of Merger, pursuant to which, Dominion would merge with and into First Union Corporation of Virginia, a wholly owned subsidiary of First Union Corporation (NYSE: FTU).
 Approximately 80 percent of the eligible common shares were voted, and of those shares approximately 99 percent were voted in favor of the merger. Approximately 78 percent of the eligible preferred shares were voted and of those shares approximately 99 percent were voted in favor of the merger.
 In addition to the foregoing shareholder approvals, consummation of the merger is subject to various other conditions, including receipt of required regulatory approvals and of certain opinions with respect to legal and accounting matters.
 -0- 12/22/92
 /CONTACT: Dominion Bankshares, Investor Relations, 703-563-7718/
 (DMBK FTU)


CO: Dominion Bankshares Corporation; First Union Corporation ST: Virginia IN: FIN SU: TNM

TW -- DC018 -- 9272 12/22/92 16:28 EST
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Publication:PR Newswire
Date:Dec 22, 1992
Words:191
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