First Citizens BancShares names James M. Parker
Vice Chairman of International Division

December 13, 2007

RALEIGH, N.C. —Lewis R. Holding, chairman of First Citizens BancShares Inc. (Nasdaq: FCNCA), today announced that James M. (Jay) Parker has been named vice chairman of the company's international division.

In late November, BancShares announced plans to open a Representative Office in London, England. The office, opening in the first quarter of 2008, will be BancShares' first expansion outside of the United States.

"Jay Parker's industry knowledge and experience make him the right person to oversee our move into the international market," said Holding. "Jay has long played an important role in the development of our company. His leadership will help us continue to grow BancShares and maximize our global potential."

BancShares' new Representative Office will be located in Kingsbury House at 15-17 King Street, one of London's premier business venues. The office will serve as an information and referral extension of the bank. Foreign companies that want to invest in the United States will be able to coordinate key relationships with BancShares' two subsidiaries: First Citizens Bank and IronStone Bank. The London office will not conduct any financial transactions. The company currently is conducting a search in the United Kingdom for personnel to staff the new office.

In addition to his new responsibilities, Parker will continue to serve as chief operating officer and western division president of IronStone Bank. He also is a director for BancShares. Parker joined First Citizens in 1966 and served in a number of key management positions, including executive vice president for the eastern region of North Carolina. The Clinton, N.C., native attended the University of North Carolina at Wilmington and Chowan College. He also served in the U.S. Navy.

First Citizens BancShares Inc. is a $16.3 billion financial holding company headquartered in Raleigh, N.C. Its two major subsidiaries are 109-year-old First Citizens Bank headquartered in Raleigh, N.C., and IronStone Bank of Fort Myers, Fla. The subsidiaries provide a broad range of financial services through a network of 396 branch offices in 17 states from coast-to-coast.

For more information, visit First Citizens' Web site at firstcitizens.com.

Barbara Thompson
First Citizens BancShares
919.716.2716