ROCKY MOUNT, N.C., June 4 /PRNewswire/ -- Centura Funds has introduced a
new  mutual fund that invests in companies in the Southeastern U.S., one of
the nation's strongest regions for economic growth.  Until this month, Centura
Bank managed common and collective trust funds with objectives similar to the
new mutual fund.  However, these were available only to Centura's trust
clients.
    The Southeast Equity Fund, with assets of $16.6 million, invests primarily
in common or preferred stocks of smaller companies with headquarters or
substantial operations in the Southeast or Texas.  By focusing on smaller
companies in its own geographic region that are not widely followed by Wall
Street, the Fund hopes to provide a competitive advantage to its investors.
    "The Southeast is a tremendous region of diverse economic growth, with
many strong and well-managed companies," said Frank Jolley, Chief Investment
Officer of Centura's Investment Management department.  "This fund is
consistent with our value style of investment management, which offers
significant growth opportunities in stocks that we believe are selling below
their intrinsic values."
    Jolley added that the new fund offers investors long-term capital
appreciation and may be suited for aggressive investors who are willing to
accept wider short-term value fluctuations in exchange for greater
potential returns.
    The Southeast Equity Fund expands the investment options available to
Centura Fund investors, bringing the total number of funds to five.  The new
fund joins two equity choices, Centura Equity Growth Fund and Centura Equity
Income Fund, and two income funds, Centura Federal Securities Income Fund and
Centura North Carolina Tax-Free Bond Fund.
    Investors interested in more information on the Southeast Equity Fund may
contact any Centura Securities representative or call 1-800-442-3688 for a
prospectus.  Please read it carefully before investing or sending
money.
    Centura Funds are distributed by Centura Funds Distributors, Inc., and
managed by Centura Bank, which has assets in excess of $6.4 billion and
provides a complete line of banking, investment, insurance and trust services
to individuals and businesses throughout North Carolina and Virginia.  It
provides services through 173 financial centers; more than 265 ATMs at
financial stores, Wal-Mart and Sam's stores; the Centura Highway telephone
banking center; and Quicken, QuickBooks and Microsoft Money, the leading
financial software packages.
    Mutual funds are not FDIC insured, have no bank guarantee and may lose
value.  Investing in a regional equity fund may involve additional risk since
investments are concentrated within the same geographic region.  Investing in
a small company stock fund may involve additional risk as the fund may be
subject to increased price fluctuation.

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