First Citizens BancShares Declares Dividend

January 28, 2002

RALEIGH, N.C. - The board of directors of First Citizens BancShares Inc. today declared a quarterly dividend of 25 cents per share on the Class A and Class B common stock. The dividend is payable April 1, 2002, to shareholders of record March 18, 2002.

First Citizens' stock is traded over-the-counter, and Class A is quoted on the Nasdaq National Market System under the symbol FCNCA.

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