COLUMBIA, Md., Jan. 18 /PRNewswire-FirstCall/ -- In connection with the
pending merger between Columbia Bancorp (Nasdaq: CBMD) and Fulton Financial
Corporation (Nasdaq: FULT), any Columbia Bancorp stockholder wishing to make
an election to receive the cash consideration or the stock consideration or a
combination of the cash consideration and stock consideration must deliver to
Fulton Financial Advisors, N.A., the Exchange Agent, a properly completed
election form, together with such stockholder's stock certificates or a
properly completed notice of guaranteed delivery, by 6:30 p.m., New York City
time, TODAY, January 18, 2006.
If the merger is completed, Columbia Bancorp stockholders will receive,
upon their election and subject to proration and the election procedures
described in the proxy statement/prospectus, for each share of common stock of
Columbia Bancorp, either: (1) $42.48 in cash, (2) 2.325 shares of Fulton
Financial Corporation common stock, or (3) a combination of cash and stock.
The closing price of Fulton Financial Corporation common stock on January
17, 2006 was $17.65. Based on this closing price, if the merger were to take
effect on January 17, 2006, the value of the consideration to be paid to
stockholders of Columbia Bancorp who elect to and do receive all stock
consideration would be $41.04 per share.
Columbia Bancorp stockholders who do not make a proper and timely election
with respect to their Columbia Bancorp common stock or who effectively revoke
their elections prior to 6:30 p.m., New York City time, TODAY, January 18,
2006, will receive cash consideration or stock consideration, but not a
combination of the two, based on the election of other Columbia Bancorp
stockholders.
Questions regarding the election procedures and requests for copies of the
election form should be addressed to Fulton Financial Advisors, N.A.,
Attention: Marylynn Darmstaetter, One Penn Square, Lancaster, PA 17602,
telephone: (800) 626-0255. Columbia Bancorp stockholders who hold their shares
in "street name" should also contact their brokers for additional information
regarding the election procedures that they should follow with respect to such
shares.
Safe Harbor Statement: Except for historical information contained herein,
the matters discussed in this release are forward-looking statements.
Investors are cautioned that all forward-looking statements involve risks and
uncertainty, including without limitation, the ability to achieve anticipated
merger related operational efficiencies, the ability to enhance revenues
through increased market penetration, expanded lending capacity and product
offerings and other risks detailed from time to time in Fulton Financial
Corporation's and Columbia Bancorp's SEC filings, including Forms 10-Q and 10-
K (copies of which are available from Fulton Financial Corporation without
charge in hard copy or online at http://www.sec.gov). Fulton Financial
Corporation and Columbia Bancorp disclaim any intention or obligation to
publicly update or revise any forward-looking statements, whether as a result
of events or circumstances after the date hereof or to reflect the occurrence
of unanticipated events.
Additional Information and Where to Find It: A Registration Statement on
Form S-4, including a Proxy Statement/Prospectus, has been filed with and
declared effective by the SEC in connection with the proposed transaction.
Investors and security holders are urged to read the Registration Statement
and the Proxy Statement/Prospectus carefully. The Registration Statement and
the Proxy Statement/Prospectus contain important information about Fulton,
Columbia Bancorp, the acquisition of Columbia Bancorp by Fulton, the persons
soliciting proxies relating to the merger, their interests in the merger and
related matters. Investors and security holders may obtain free copies of
these documents through the website maintained by the SEC at
http://www.sec.gov. Free copies of the Proxy Statement/Prospectus and these
other documents may also be obtained from Fulton by directing a request to
George R. Barr, Secretary, at (717) 291-2411 or from Columbia Bancorp by
directing a request to Sibyl S. Malatras, Secretary, at (410) 423-8024.
In addition to the Registration Statement and the Proxy
Statement/Prospectus, Fulton and Columbia Bancorp file annual, quarterly and
special reports, proxy statements and other information with the SEC. You may
read and copy any reports, statements or other information at the SEC public
reference room in Washington, D.C. Please call the SEC at 1-800-SEC-0330 for
further information on the public reference rooms. Fulton's and Columbia
Bancorp's filings with the SEC are also available to the public from
commercial document-retrieval services and at the web site maintained by the
SEC at http://www.sec.gov.
SOURCE Columbia Bancorp
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Related links:
http://www.columbank.com
Company News On-Call:
http://www.prnewswire.com/comp/127921.html
CONTACT:
John M. Bond, Jr., Chairman and CEO,
+1-410-423-8010, or John A. Scaldara, Jr., President and COO,
+1-410-423-8012, both of Columbia Bancorp
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