Bank to Target Small- and Middle-Market Companies with
                Investment Banking and Venture Capital Services

    ROCKY MOUNT, N.C., April 10 /PRNewswire/ -- Centura Banks Inc. (NYSE: CBC)
has formed a Capital Markets Group to bring sophisticated Wall Street-type
services and products -- including a venture capital fund -- to North Carolina
businesses.
    Centura is one of only three banks in North Carolina to offer clients the
complex deal-making capabilities and non-traditional funding and revenue
sources available through a capital markets group.  Centura Capital Markets,
which is based in Charlotte,  will target small- and medium-sized companies
which have been traditionally under-served by the state's largest financial
institutions.
    "Centura Capital Markets positions us as a full-service financial provider
to corporations, municipalities and high-growth companies," said Kel Landis,
vice chairman of Centura's Financial Services Group. "This enables us to
deliver state-of-the-art products and a high level of service to our customers
to compete against larger regional banks, Wall Street firms and other
investment firms."
    In addition to an investment banking division and a private equity fund,
the Centura Capital Markets Group contains a corporate banking and specialty
finance unit that will specialize in real estate finance, warehousing lending
and health care finance.  The group will concentrate on clients in North and
South Carolina and Virginia.
    One unique aspect of the group is a new venture capital fund, Centura
Capital, which is a separate corporation licensed as a Small Business
Investment Corporation, will specialize in small- and middle-market growth
companies.  Capitalized with $10 million from Centura Bank, Centura Capital
offers a range of non-traditional financing options for high-growth
businesses that are strategically focused and require additional capital to
expand sales.
   Centura Capital will not invest seed money in new business start-ups but
rather in companies that have established revenue streams, a proven product
line with a competitive advantage and experienced senior management with a
strong vested financial interest.  The company targets light industry,
manufacturing, distribution or service-related companies that have a
successful track record.
    Centura Capital makes investments with a four- to five-year window to
exit, usually through an initial public offering of the sale of the company.
It already has $3.2 million invested, with the size of the investments ranging
from $250,000 to $2 million.
    "We want to invest in high-growth companies with a competitive advantage
in the market and which show outstanding potential for long-term capital
appreciation," said Bob Anders, who is managing director of the Capital
Markets Group in Charlotte.
    The investment banking unit, called Centura Investment Bank, provides a
full range of private equity, merger and acquisitions, corporate and real
estate finance and other sophisticated financing solutions for its corporate
customers.  The unit also provides strategic consulting, valuations and loan
syndication.
    Like Centura Capital, Centura Investment Bank targets middle-market
companies in need of such Wall Street services.  Centura Investment Bank
placed more than $82 million in private debt in 1996.
    "There are a number of under-served companies that can benefit from these
services to get to the next level of productivity," Anders said.  "These
products allow us to generate new relationships, strengthen existing
relationships, add significant additional revenue sources and help our clients
achieve their financial goals."
    With assets of $6.4 billion, Centura offers a full range of banking,
investment, insurance and trust services to individuals and businesses
throughout North Carolina.  Centura provides financial services through: 169
financial stores, including 16 supermarkets; more than 265 ATMs, including
most N.C. Wal-Mart and Sam's stores; the Centura Highway telephone center;
Quicken, QuickBooks and Microsoft Money.

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