February 2, 2006

BB&T Capital Markets hires chemicals industry analysts

RICHMOND, Va. –

BB&T Capital Markets today said it has hired a renowned team of New York City-based equity analysts to cover the chemicals industry.

Led by Frank Mitsch, the group was named the best independent commodity chemicals and special chemicals research team in the December 2004 and 2005 issues of Institutional Investor for their work at Fulcrum Global Partners. Other members include James Chen and Will MacColl.

“We’re very excited to have this experienced and talented team of research analysts to cover the important chemicals sector,” said Vernon Plack, director of Equity Research at BB&T Capital Markets. “Frank and his team obviously do an outstanding job of following this industry and are certainly dedicated to producing outstanding, unbiased quality research.”

Mitsch was named as the “Best on the Street” chemicals analyst by The Wall Street Journal in 2004 and 2005. He has received similar accolades from Forbes, Reuters and other outlets during his career as an analyst for Bear Stearns, Chase H&Q, Merrill Lynch and, most recently, Fulcrum.

He also brings several years of industry experience to his research coverage, having worked with GE-Betz Laboratories for four years, and with Kline & Co., a prominent chemical consultancy, for seven years (including two years in Brussels covering the global chemical industry).

He earned a bachelor’s degree in chemical engineering from the Stevens Institute of Technology and a Master of Business Administration degree in finance from Montclair State University.

Before joining Fulcrum in 2003, James Chen had more than eight years of experience in the chemicals industry with Union Carbide and Celanese.

He earned a bachelor’s degree in polymer material engineering from East China University of Science and Technology in Shanghai. Chen also earned a Master of Business Administration degree from New York University and a doctorate in chemical engineering from the University of Connecticut. He passed his Level III CFA exam in 2004.

Will MacColl has more than two years of experience in equity research. He worked as an associate analyst at Fulcrum covering the transportation industry, retail sporting goods and, most recently, chemicals. He earned a bachelor’s degree in history from Princeton University where he was a member of the NCAA champion lacrosse team in 2001.

BB&T Capital Markets employs nearly 400 professionals who provide public and private debt and equity solutions to corporations, governments and institutions. More information is available at www.BBandT.com/CapitalMarkets.

BB&T Capital Markets is a division of Scott & Stringfellow Inc., a registered broker/dealer and wholly owned subsidiary of BB&T Corporation.

Winston-Salem, N.C.-based BB&T Corporation and its subsidiaries offer full-service commercial and retail banking and additional financial services such as risk management, employee benefits, international services, treasury management, capital markets and corporate trust.

BB&T operates more than 1,400 financial centers in the Carolinas, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana and Washington, D.C.

With $109.2 billion in assets, BB&T Corp. is the nation’s ninth largest financial holding company. More information about BB&T Corp. is available at www.bbandt.com .

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