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FIRST UNION REDEEMS ITS FLOATING RATE NOTES DUE 1996

 JACKSONVILLE, Fla., April 22 /PRNewswire/ -- The board of directors of First Union Corporation of Florida today elected to redeem on May 24, 1993, the corporation's $50 million of Floating Rate Subordinated Notes Due 1996.
 The Notes were assumed by First Union Corporation of Florida in connection with the acquisition of Florida National Banks of Florida, Inc. in January 1990.
 The redemption price is 100 percent of the principal amount of the Notes, plus accrued interest to the date of redemption. Interest on the Notes will cease to accrue from and after the redemption date.
 At Mar. 31, 1993, First Union Corporation (NYSE: FTU FTUpr), the parent corporation of First Union Corporation of Florida, reported assets of $63.2 billion, and operated 1,238 banking offices in Florida, North Carolina, South Carolina, Georgia Virginia, Tennessee, Maryland, and Washington D.C., and 238 nonbanking offices in 36 states and the District of Columbia. Including pending acquisitions expected to be completed in the second quarter of 1993, First Union Corporation is expected to operate approximately 1,300 banking offices and have assets of approximately $71 billion, which would make it the nation's eighth largest bank holding company.
 -0- 4/22/93
 /CONTACT: (Media) Jeep Bryant, 704-374-2957, or (Investor) Sean Fox, 704-374-4353, both of First Union Corporation/
 (FTU)


CO: First Union Corporation; First Union Corporation of Florida ST: Florida IN: FIN SU:

SB -- CH007 -- 9510 04/22/93 13:28 EDT
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Publication:PR Newswire
Date:Apr 22, 1993
Words:237
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