Atlanta Internet Bank goes online with AT&T; www.atlantabank.com

Business Wire, Oct 15, 1996

ATLANTA--(BUSINESS WIRE)--Oct. 15, 1996--

Exclusive Offer For AT&T WorldNet Service

Subscribers: FDIC Insured

Atlanta Internet Bank today announced "anytime-anywhere" banking in cyberspace using technology and services provided by AT&T and featuring a special offer for AT&T WorldNet(SM) Service subscribers.

Benefiting from significantly lower operating costs than conventional banks because it operates entirely without branches, Atlanta Internet Bank is opening with a limited time offer of 7% interest (annual percentage yield 6.18%) on NetVantage money market accounts for subscribers to AT&T WorldNet Service, AT&T's value-added Internet access service. Before the end of the year, the bank will serve all Internet users.

In addition to money market accounts, Atlanta Internet Bank's initial products include interest-bearing checking accounts, direct deposit, electronic bill payment, account transfer capability and ATM cards. In the near future the bank also plans to offer loan products, brokerage services, IRA accounts and credit and debit cards. Atlanta Internet Bank President Don Shapleigh described the bank's opening as the beginning of a new era in financial services. "We're using bits and bytes instead of bricks and mortar, and passing the savings on to our customers," Shapleigh said. "This will allow us to maintain very competitive rates after the introductory interest rate offer expires.

"In addition to higher interest rates on insured deposits we are also concentrating on the consumer benefits of convenience, cost savings and speed," Shapleigh continued, "and we're placing special emphasis on customer care. We had to be sure we allied ourselves with a technology provider that could offer a high degree of quality, reliability and security, and few companies measure up to those standards the way AT&T does."

Atlanta Internet Bank is an Internet-based banking service provided through Carolina First Bank, Greenville, S.C., a wholly owned subsidiary of Carolina First Corporation (NASDAQ/NM:CAFC). Working with Carolina First, the bank consulting firm of T. Stephen Johnson & Associates of Atlanta was instrumental in the creation and implementation of Atlanta Internet Bank's innovative banking strategy.

"Atlanta Internet Bank has taken a giant step into the electronic commerce marketplace," said Jeffrey Feldman, AT&T Advanced Network Solutions vice president. "AT&T's Advanced Network Solutions team firmly believes that banks and other financial service providers will win customer loyalty by offering their own branded, electronic environments that deliver real value to end users -- just as Atlanta Internet Bank has demonstrated today."

Atlanta Internet Bank is distributing customized AT&T WorldNet Service software to existing and potential customers through AT&T WorldNet BusinessReach(SM) Service. Those who subscribe will log directly onto a special version of the AT&T WorldNet Service homepage, featuring a point-and-click icon that will enable them to hyperlink to Atlanta Internet Bank's website.

In addition, Atlanta Internet Bank is making extensive use of banner advertising on both the "At Home" and "At Work" pages of AT&T WorldNet Service.

"AT&T has presented us not only with solid technology but also with an outstanding marketing opportunity," said Shapleigh. "We intend to focus our efforts on bringing the best possible banking services to AT&T WorldNet Service subscribers and the entire online commuT: Atlanta Internet Bank

John Day, ext. 412/Ched Hoover ext. 401

770-392-4990/770-396-7870 (fax)

or

AT&T

Karen Way, 908-221-6632

pager: 888-239-0369

KEYWORD: GEORGIA

INDUSTRY KEYWORD: BANKING COMPUTERS/ELECTRONICS COMED INTERACTIVE/MULTIMEDIA/INTERNET

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