Alabama BanCorporation Approve Acquisition By RBC Centura Banks

As previously disclosed, the merger is expected to be completed during RBC's second fiscal quarter, which runs from February 1 through April 30, 2008, subject to the receipt of all applicable regulatory approvals, the expiration of all regulatory waiting periods, and the satisfaction of the other conditions contained in the merger agreement.

ANB began mailing election forms to its stockholders on December 21, 2007, whereby stockholders may elect the form of consideration that they are to receive in the merger, subject to proration.

Pursuant to the merger agreement, if the merger is completed, each issued and outstanding share of ANB common stock (excluding shares owned by RBC, RBC Centura or ANB, and excluding any dissenting shares) will be converted into the right to receive, as elected by each ANB stockholder, either (i) RBC common shares worth U.S. $80.00 or (ii) U.S. $80.00 in cash, subject to certain proration procedures designed to ensure that the aggregate consideration to be paid by RBC to all ANB stockholders will be, as nearly as practicable, 50% cash and 50% RBC common shares.

The merger agreement contains a proration provision to ensure these percentages. The deadline for the receipt of properly completed election forms is 5:00 p.m., Birmingham, Alabama time, on January 31, 2008. -- Alabama National BanCorporation