July 9, 1997

First Tennessee Makes an Announcement

MEMPHIS, Tenn.--July 9, 1997--First Tennessee Capital Markets has opened its fifth regional office in Chicago.

The four other regional offices of First Tennessee Capital Markets, a division of First Tennessee Bank National Assoc., are in Dallas: Kansas City: Knoxville, Tenn.; and Mobile, Ala. and the home office is in Memphis. First Tennessee Bank National Association is the principal banking subsidiary of First Tennessee National Corp. headquartered in Memphis.

First Tennessee Capital Markets, the nation's most active underwriter of government agency securities in 1996, also underwrites mortgage-backed securities and municipal bonds. The opening of the Chicago office is part of an effort to bring these products and the many services offered by First Tennessee to institutions in the Midwest. The Chicago office of First Tennessee Capital Markets will provide the latest in fixed income research, pricing services, portfolio accounting and analytics.

The new office is staffed with experienced people from the Chicago area. The manager of the Chicago office is Robert Costello, a 16-year veteran of the Chicago financial community. Costello came to First Tennessee from ABN AMRO Chicago Crop.

Jim Hughes, executive vice president of First Tennessee Capital Markets, said, "We view this expansion into the Midwest as an opportunity to better serve our customers."

First Tennessee National Corp. is a nationwide, diversified financial services institution and is one of the 50 largest bank holding companies in the United States in asset size and market capitalization. Banking and other financial services are provided through the retail/commercial bank and six specialty lines of business: mortgage banking, Capital Markets, credit card, trust services, First Express (nationwide check clearing) and transaction processing. The corporation's common stock is traded over the counter on the NASDAQ Stock Market's national market system under the symbol FTEN.

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