ROCKY MOUNT, N.C., Jan. 29 /PRNewswire/ -- The Centura Funds and Centura
Bank (NYSE: CBC) announced today that the Centura Federal Securities Income
Fund, C Shares was ranked 1st out of 31 funds for its one year performance
within the Lipper Short U.S. Treasury Funds Objective.  The Funds A and B
Shares one year performance was ranked 3rd and 9th respectively out of the
same 31 fund Lipper investment objective universe for the period ending
12/31/97.  The Federal Securities Income Fund seeks high current income from a
portfolio of securities issued by the U.S. Government, its agencies and
instrumentalities with relative stability of principal.
    The Centura North Carolina Tax-Free Bond Fund, C Shares was ranked 3rd out
of 85 funds for its one year performance within the Lipper Other States
Intermediate Muni Debt Funds investment category.  The Funds A and B Shares
1997 performance ranked 6th and 14th respectively within the same Lipper
investment objective category for the period ending 12/31/97.  The investment
objective of the Centura North Carolina Tax-Free Bond Fund is relatively high
current income that is free from both regular federal and North Carolina
personal income tax, together with relative safety of principal.
    C. Nathaniel Siewers serves as portfolio manager for the both funds.  Mr.
Siewers is a Certified Public Accountant and has over 12 years of experience
managing fixed The Centura Funds and Centura Bank income securities.  He is
Dean of the North Carolina School of Banking and is a Fellow in the North
Carolina Association of Certified Public Accountants.
    The Centura Funds are offered by prospectus in A Shares (front-end load),
B Shares (back-end load) and C Shares (institutional class).  The shares of
the Funds are not FDIC insured, are not bank guaranteed and may lose value.
Prospectuses detailing expenses for the Centura Funds, and performance
information are available by calling Centura Funds Distributor, Inc. At 1-800-
442-3688.  Please read the prospectus carefully before investing or sending
money.
    Centura Bank serves as investment advisor to the Funds, is paid a fee for
its services, and is not affiliated with Centura Funds Distributor, Inc., the
Fund's distributor.
    Lipper, an independent mutual fund research leader, ranks funds based on
performance calculations assuming reinvestment of all distributions and after
subtracting annual expenses.  The performance information and rankings do not
reflect sales charges or redemption fees.  The ratings only serve as an
initial screen for investors evaluating investment decisions. The ratings are
based on total return.  The North Carolina Tax-Free Bond currently waives a
portion of its Administration Fee and Advisor Fee.  Without these waivers, the
Fund's ranking may have been affected.  Past performance is no guarantee of
future results.  Income may be subject to Federal AMT.

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