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FIRST UNION REPORTS TRUST INVESTMENT PERFORMANCE

 FIRST UNION REPORTS TRUST INVESTMENT PERFORMANCE
 CHARLOTTE, N.C., Oct. 30 -- /PRNewswire/ -- First Union's Capital


Management Group investment performance ranked in the top 3 percent of the nation's money managers for the 10-year period ended September 30, 1992, according to a national study.
 First Union's Common Stock Fund for individuals, managed by the bank's Capital Management Group, ranked in the top 3 percent of money managers and 23rd nationally, with a 10-year cumulative return of 478.3 percent. By comparison for the same period, the Standard & Poor's 500 returned 401.2 percent.
 CDA Investment Technologies, Inc., an independent investment performance measurement service based in Rockville, Md., conducted the quarterly study on 909 U.S. investment funds managed by banks, insurance companies and mutual funds for this 10-year period.
 First Union's Capital Management Group is the trust and investment arm of the bank. The group offers investment management and administrative services to corporations for various pension, profit sharing and 401(k) plans, as well as to individual trust accounts, endowments and foundations across the Southeast.
 First Union's Capital Management Group also serves as investment adviser to The Salem Funds, a family of mutual funds.
 First Union Corporation (NYSE: FTU FTUpr) is the nation's 11th largest bank holding company, based on assets of $48.3 billion (excluding pending acquisitions) as of September 30, 1992, and as of such date operated 898 banking offices in Florida, North Carolina, South Carolina and Georgia, one banking office in Nashville, Tennessee and 200 nonbanking offices in 36 states.
 -0- 10/30/92
 /CONTACT: Media -- Donna Stockton, First Union Corporation, 704-374-6999/
 (FTU) CO: First Union Corporation ST: North Carolina IN: FIN SU: ECO


SB -- CH001 -- 6955 10/30/92 08:36 EST
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Publication:PR Newswire
Date:Oct 30, 1992
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