First Citizens BancShares Declares Dividend

July 28, 2003

RALEIGH, N.C. RALEIGH, N.C.— The board of directors of First Citizens BancShares Inc. today declared a quarterly dividend of 27.5 cents per share on the Class A and Class B common stock. The dividend is payable Oct. 6, 2003, to shareholders of record Sept. 15, 2003. First Citizens' stock is traded over-the-counter, and Class A is quoted on the Nasdaq National Market System under the symbol FCNCA.

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 BancShares