Exhibit (99)(b)
( First Union logo )
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Conference Call
December 2, 1997
(logo) Cautionary Statement
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A number of statements we will be making in our presentation and in the
accompanying exhibits will be "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995, such as
statements of the Corporation's plans, goals, objectives, expectations,
projections, estimates and intentions. These forward-looking statements
involve significant risks and uncertainties and are subject to change
based on various factors (some of which are beyond the Corporation's
control). Factors which could cause the Corporation's actual results to
differ materially from such forward-looking statements made herein or by
management of the Corporation are set forth in the Corporation's Third
Quarter Report on Form 10-Q, the Corporation's Current Reports on Form
8-K dated July 21, 1997, August 20, 1997, November 18, 1997, November
28, 1997, and December 2, 1997, and the Corporation's Registration
Statements 333-35363, 333-36839 and 333-37709.
In addition to the foregoing, a significant portion of the financial
information presented has not been prepared based on GAAP and is derived
from internal management reporting sources.
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(First Union logo)
(logo) CoreStates' Superior Financial Performance (1)
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(graphs with plot points as listed below)
ROE ROA
1995--19.4% 1995--1.6%
1996--20.1% 1996--1.8%
1997--23.3% 1997--1.8%
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Fee Income/Revenue Efficiency Ratio
1995--28.6% 1995--57.8%
1996--29.3% 1996--54.4%
1997--29.6% 1997--53.0%
(1) 1997 data annualized for nine months ended 9/30/97. Such annualized
data are not intended to be projections for the full year.
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(First Union logo) exhibit 2
(logo) CoreStates' Superior Financial Contribution (1) (2)
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(graphs with plot points as listed below)
ROE ROA
1997--23.3% 1997--1.8%
1998--36.8% 1998--2.4%
1999--36.8% 1999--2.5%
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Fee Income/Revenue Efficiency Ratio
1997--29.6% 1997--53.0%
1998--31.0% 1998--36.9%
1999--31.0% 1999--26.5%
(1) 1997 data annualized for nine months ended 9/30/97. Such annualized
data are not intended to be projections for the full year. Data excludes
merger-related restructuring charges and assumes reaching efficiencies of
45% and revenue enhancements of 21% by 1999, and leveraging of excess
capital.
(2) 1998 data is based on First Call consensus estimates and 1999 data is an
illustration based on 1998 First Call consensus estimates plus 10%. See
First Union's Current Report on Form 8-K dated November 18, 1997, for
additional information.
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(First Union logo) exhibit 3
(logo) Financial Performance Guidelines Raising the Bar - Again
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Guideline Prior New
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ROE 18-20% 20-22%
ROA 1.30%-1.50% 1.60%-1.90%
Overhead Efficiency 53-57% 50-54%
Fee Income/Revenue 40% 40-45%
EPS Growth 10-13% 10-14%
NCO/Average Loans 50-65bps 55-70bps
Dividend Payout 30-35% 40-45%
Tier 1 Leverage 6-7% 6-7%
Note: Assumes Average Annual Asset Growth of 4-6%. Excludes merger-related
restructuring charges.
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(First Union logo) exhibit 4
(logo) First Union's Performance vs. Nations Top 10 Banks
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Current FTU Rank (1) Guideline Rank (2)
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ROE 3 1
EPS Growth 4 3
ROA 3 1
Efficiency Ratio 2 2
Fee Income/Revenue 9 4
Leverage Ratio 7 4
NCO/Average Loans 6 6
Dividend Payout 5 3
(1) As of September 30, 1997
(2) Assumes best performance against financial guidelines using September 30,
1997, data.
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(First Union logo) exhibit 5