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SYNOVUS FINANCIAL CORP.(R)



For Immediate  Release 

Contact: Patrick A.  Reynolds                  Jason M. Brady  
         Director of Investor  Relations       Associate Director of Investor 
                                               Relations 
         (706) 649-4973                        (706) 649-5220 

     SYNOVUS FINANCIAL CORP. ANNOUNCES 22.2% INCREASE IN QUARTERLY DIVIDEND

     Columbus,  GA,  March 9,  1998 - Today,  Synovus  Financial  Corp.  (NYSE -
"SNV"), the Columbus,Georgia,  based multi-financial services company, announced
a 22.2%  increase in the quarterly  cash dividend of Synovus  common stock.  The
quarterly cash dividend will be increased to $0.11 from $0.09,  payable on April
1, 1998, to shareholders of record as of March 20, 1998.

     Commenting on the increase,  James H. Blanchard,  Chairman of the Board and
CEO,  stated,  "We are  proud  to  increase  our  cash  dividend  for  the  22nd
consecutive year. This increase  reflects the Board of Directors'  confidence in
our future and our  commitment  to maximize the total return of our common stock
to our shareholders." The cash dividend paid to shareholders has increased at an
annual  compound  growth rate of 20.9% for the last five years and 17.2% for the
past ten years.

     Synovus   Financial   Corp.   (Syn  o  vus)  is   a  $9.3  billion   asset,
multi-financial  services  company  composed  of 34  banks  serving  communities
throughout Georgia,  Alabama,  Florida and South Carolina; an 80.7% ownership of
Total System  Services,  Inc. (NYSE - "TSS")  (www.totalsystem.com),  one of the
world's  largest credit,  debit,  commercial and  private-label  card processing
companies;  Synovus Trust Company,  one of the Southeast's  largest providers of
trust services;  Synovus  Securities,  Inc., a full-service  brokerage firm; and
Synovus Mortgage Corp., which offers mortgage services throughout the Southeast.
Synovus  Financial  Corp. is a component of the Standard and Poors 500 index and
has been named the 11th best place to work in America by FORTUNE  magazine.  The
name  "Synovus" was created by the  combination  of synergy and novus - synergy,
meaning the  interaction  of separate  components  such that the total effect is
greater than the sum of its parts and novus (Latin for "new"),  meaning  usually
of superior  quality and different  from the others listed in the same category.
Synovus' Internet address is www.synovus.com.

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                        Post Office Box 120 / Columbus,
                           GA 31902http://www.snv.com