First Citizens Bank Offers Access to Free Tax Preparation and Electronic Filing For Eligible Taxpayers

March 27, 2000

RALEIGH, N.C. - Eligible taxpayers can prepare and file federal and state income taxes on the internet free of charge through First Citizens Bank's partnership with Intuit and its Quicken Tax Freedom Project.

"This is an outstanding service that Intuit offers taxpayers who can benefit from filing a simple, quick and efficient tax return without having to pay the fees they would be charged with some tax preparers," said Joe Cooper, chief information officer for First Citizens.

Taxpayers with an annual adjusted gross income of $20,000 or less or anyone filing form 1040EZ can prepare and file their taxes for free using Quicken^® TurboTax^® for the Web^SM or Quicken TurboTaxEZ^SM. They can access the Tax Freedom Project and determine eligibility by visiting First Citizens' web site at www.firstcitizens.com and clicking on the Quicken TurboTax link. The tax filing deadline for 2000 is April 17.

According to IRS figures, about 45 percent of all individual taxpayers are eligible to participate in the project. Intuit reported that more than 86,000 people took advantage of the offer in 1999. Taxpayers without Internet access may be able to access the web at their local library or a community center. According to the American Library Association, nearly 75 percent of public libraries offer free Internet service.

First Citizens is also providing Quicken TurboTax for the Web for all tax filers through www.firstcitizens.com. Those not eligible for the Tax Freedom Project can prepare and file federal and state returns for $9.95 each.

With firstcitizens.com online banking, customers have the opportunity to access account information, apply for certain credit products and schedule electronic bill payments. Customers can also transfer funds, place stop payments, request a check or statement copy and even order checks. In addition to banking online, firstcitizens.com allows users to apply for a Rising Rate CD, get quick home and auto insurance quotes, apply for a credit card and order a copy of their credit report. First Citizens will continue to expand its online services for retail and business customers.

First Citizens Bank has 365 branches in more than 200 communities in North Carolina, Virginia and West Virginia. Headquartered in Raleigh, the bank has $9.72 billion in assets. First Citizens is committed to providing superior financial services to individual customers and small to mid-sized businesses. For more information on the bank, visit our web site.

For more information, contact:
Barbara Thompson
First Citizens BancShares
(919) 716-2716