BB&T enters NASCAR as sponsor of No. 2 RCR Busch Series car

WINSTON-SALEM, N.C., Dec. 11, 2006 -- BB&T Corporation today marked its entry into NASCAR by announcing a two-year agreement to be the official bank of Richard Childress Racing (RCR) and the primary sponsor of the No. 2 Chevrolet Monte Carlos driven by Clint Bowyer in the Busch Series.

Bowyer will drive the No. 2 BB&T Chevrolet in 17 races each in the 2007 and 2008 NASCAR Busch Series seasons beginning with the Feb. 17 Daytona 300 at Daytona International Speedway. Financial terms were not disclosed.

The announcement comes nine months after BB&T launched a major marketing campaign to introduce its new brand positioning and "There's opportunity here" tag line.

"This is a unique opportunity for BB&T to extend our brand and generate new business," said BB&T Chief Marketing Officer Steve Wiggs. "We have a significant commitment in the automotive arena through our auto finance groups, BB&T Sales Finance, Regional Acceptance and Lendmark Financial. In addition, our BB&T Capital Markets division is the only full service U.S. investment bank with equity research and investment banking teams dedicated exclusively to the automotive aftermarket industry.

"This sponsorship expands our brand awareness in a new and exciting way throughout the Southeast and across the nation. We're proud to align ourselves with Richard Childress, a premier team owner with a winning tradition and significant momentum going into the 2007 racing season. On behalf of all BB&T employees, I can't wait to see Clint drive the No. 2 BB&T Chevrolet to Victory Lane."

Childress, president and CEO of Welcome, N.C.-based Richard Childress Racing, has won 10 NASCAR championships since RCR made its debut with Childress behind the wheel in 1969. He owns Chevrolets driven by 2006 Busch Series champion Kevin Harvick, Jeff Burton and Bowyer in NASCAR's Nextel Cup and Busch Series.

"As a Winston-Salem native and someone who's had a banking relationship with BB&T for some time now, I'm thrilled they decided to get into racing - and to do it with us," Childress said. "This is a special partnership that will pair Clint Bowyer, one of our sport's exciting young talents, with BB&T, one of the nation's top financial services providers. BB&T's reputation for hometown, personal service is something our fans will certainly respect and appreciate."

BB&T's entry into NASCAR is the latest step in its growing and more focused sports marketing program. The company is also involved in college and high school sports, minor league baseball events and the NFL. But today's announcement is especially unique, said BB&T Corporate Sports Marketing and Event Planning Manager Pete Zifchak.

"No other sports sponsorship has offered us the ability to leverage it across so many business lines and our banking network at the same time," Zifchak said. "The business-to-business networking opportunities are significant. This is an opportunity we couldn't pass up."

Zifchak said BB&T will implement a dedicated marketing effort in support of the sponsorship that will include client entertainment, BB&T financial center grand openings and special events, and racing-themed merchandise programs.

But the biggest impact will come on the track, where Bowyer and his BB&T race team will look to build on his winning record in the Busch Series. The 27-year-old resident of Clemmons, N.C., near Winston-Salem, wrapped up his second full Busch season Nov. 18 in Miami in the final race with ACDelco as primary sponsor of the No. 2 RCR Chevrolet.

"It's really a privilege to be able to drive for an industry leader like BB&T," Bowyer said. "After running a full-time schedule in Busch and Cup last year, I was looking to trim my Busch Series schedule back a little bit and that fit perfectly with BB&T's plans. We've picked out some races that make sense for everyone, so there's really no doubt in my mind that it won't be long before we roll the BB&T Chevrolet Monte Carlo into the Winner's Circle."

The No. 2 RCR/BB&T Chevrolet will be unveiled Jan. 23 at RCR's stop on the annual NASCAR Nextel Cup Media Tour hosted by Lowe's Motor Speedway in Concord, N.C. Visit www.rcrracing.com for more information on Richard Childress Racing.

Winston-Salem, N.C.-based BB&T Corporation and its subsidiaries offer full-service commercial and retail banking and additional financial services such as insurance, investments, retail brokerage, corporate finance, payment services, international banking, leasing and trust.

BB&T operates more than 1,450 financial centers in the Carolinas, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana and Washington, D.C.

With $118.5 billion in assets, BB&T Corp. is the nation's 11th largest financial holding company. Visit www.BBT.com for more information about the company.