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FOR IMMEDIATE RELEASE
Analyst Contact: Sheldon Fox  (919)683-7645
February 1, 2000
Media Contact:   Eileen Sarro   (919)683-7642

                    CCB FINANCIAL CORPORATION
  ANNOUNCES FURTHER SHARE REPURCHASE AUTHORIZATION AND DIVIDEND
                           DECLARATION

Durham,  N.C. -- CCB Financial Corporation (NYSE: CCB)  announced
today  that its Board of Directors authorized the purchase of  up
to  2,000,000 of its shares, as part of its continuing program of
share   repurchases.   The  authorization   also   includes   the
repurchase  of  any  shares issued for the exercise  of  options,
restricted  stock  awards,  or other  corporate  purposes.   This
action reflects CCB's ongoing efforts to manage its capital  base
efficiently.

Purchases  can  begin immediately and will be made  through  open
market  or  privately negotiated transactions, subject to  market
conditions  and  trading  restrictions.  The  authorization  will
expire on December 31, 2000.

The  Board  of  Directors also declared a regular quarterly  cash
dividend on common stock of $.29.  The dividend is payable  April
3, 2000 to shareholders of record March 15, 2000.

CCB   Financial   Corporation  had  39.6  million  common   shares
outstanding at December 31, 1999.

CCB  Financial Corporation offers a complete line of  traditional
banking  services, as well as a full array of financial products,
such  as  investments,  insurance and trust  services.   Its  two
principal  banking subsidiaries, Central Carolina Bank and  Trust
Company in North Carolina and American Federal Bank, FSB in South
Carolina, serve customers through 207 offices, including  twenty-
one open seven days a week in Harris Teeter stores, 228 ATMs, its
Telebanking  Center,  and on-line banking  for  both  retail  and
commercial  accounts.  As of December 31,  1999,  CCB  had  total
assets of $8.2 billion.
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