FLBK Florida Choice Bkshs (MM)

Shareholders of Florida Banks Approve Merger With The South Financial Group JACKSONVILLE, Fla., July 13 /PRNewswire-FirstCall/ -- Florida Banks, Inc. (NASDAQ:FLBK) today announced that its shareholders, voting at a special meeting yesterday, have approved the Company's previously announced merger with The South Financial Group (NASDAQ:TSFG). The merger is expected to be completed on Friday, July 16, 2004. Florida Banks, Inc. is a Jacksonville-based holding company for a statewide community banking system in many of Florida's largest and fastest- growing markets. The Company operates full-service banking offices in Tampa, Jacksonville, Alachua County (Gainesville), Broward County (Ft. Lauderdale), Pinellas County (St. Petersburg/Clearwater/Largo), Marion County (Ocala), and West Palm Beach. Upon completion of the merger, Florida Banks' operations will be conducted through TSFG's Florida banking subsidiary, Mercantile Bank. Certain statements in this news release contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future business development activities, and are thus prospective. Such forward- looking statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Potential risks and uncertainties include, but are not limited to, general economic conditions, competition, interest rate sensitivity, exposure to regulatory and legislative changes and other uncertainties detailed from time to time in the Company's Securities and Exchange Commission filings. DATASOURCE: Florida Banks, Inc. CONTACT: Charles E. Hughes, Jr., President and CEO, +1-904-332-7777, or , or T. Edwin Stinson, Jr., Chief Financial Officer, +1-904-332-7772, or , both of Florida Banks, Inc.

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