FOR IMMEDIATE RELEASE
October 31, 2006

For information, contact

Stephen Hudson
Phone: 803.931.1332

First Citizens launches new securities firm

Columbia, S.C., October 31, 2006 – First Citizens, the largest Columbia-based bank in South Carolina, will begin operating its own full-service securities firm. First Citizens Securities Corporation, a wholly-owned subsidiary of First Citizens Bank and Trust Company, Inc., begins operations November 1 with more than 5,200 accounts representing more than $450 million in invest-able assets throughout South Carolina and Eastern Georgia. Previously First Citizens provided brokerage services through its partnership with First Citizens Investor Services of Raleigh, N.C.

Building on First Citizens’ brand promise and loyal customer base, First Citizens Securities will concentrate on providing clients with world-class service and a greatly enhanced menu of investment products. First Citizens has retained Pershing, LLC as its clearing agent for transactions.

“Our clients are our number one priority. By establishing our own brokerage firm we can now offer our clients a broader array of investment products and services tailored to help them achieve their long-term financial growth strategies,” said Britt Borders, Director of the Wealth Advisory Group at First Citizens in Columbia.

In addition to traditional investment products, such as mutual funds, stocks, bonds, and annuities, First Citizens Securities will offer financial planning, fee-based managed accounts, and life and long-term care insurance. Financial Advisors will meet with existing and prospective clients to determine optimal investment portfolios according to the risk tolerances, investment experiences, and financial objectives of each unique situation.

Clients have access to licensed Financial Advisors throughout First Citizens’ network of 166 offices. The First Citizens Securities operations and client support services are based in the First Citizens Center in Columbia. As part of First Citizens’ Wealth Advisory Group, clients have the added benefit of having comprehensive wealth management as a part of their relationship with First Citizens.

For additional information on First Citizens Securities please call 1.866.931.1691 or log on to www.firstcitizensonline.com.

First Citizens Bancorporation, Inc. is the parent company of First Citizens Bank and Trust Company, Inc, and The Exchange Bank of South Carolina, Inc. First Citizens Bank offers services in commercial and retail banking through its approximately 170 offices in South Carolina and Georgia. As of September 30, 2006, First Citizens Bancorporation had total consolidated assets of $5.64 billion. For more information, visit the First Citizens web site at www.firstcitizensonline.com.


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