Press Release for Monday, August 26, 2002

Compass Bank establishes endowed scholarship in international business

JACKSONVILLE -- The University of North Florida received a $100,000 gift today from Compass Bank to fund endowed scholarships in International Business. The gift is eligible for a $50,000 match in state funds through the Florida Challenge Grant program.

"The University community in general and the College of Business Administration in particular are grateful for this generous donation, " said UNF Interim President Dr. David Kline. "These scholarships further enhance Compass Bank’s well-earned reputation for supporting higher education.”

“In our increasingly global economy, it’s more important than ever that we have a highly educated work force to meet the challenges of a much more complex business environment,” said Robert E. White, Compass’ Jacksonville City President. “Compass feels it’s our responsibility—working with partners such as UNF—to help prepare these students to meet the challenges of tomorrow’s business world.”

College of Business Administration Dean Dr. Earle Traynham said the college is extremely grateful for the investment by Compass Bank in UNF students. “We are committed to attracting the very best students into our International Business program and to providing them with the knowledge and skills they need to be successful in a globally competitive environment,” he said. “We feel very fortunate to have firms like Compass Bank and outstanding leaders such as Robert White who recognize the importance of high quality management education to the economic future of northeast Florida.”

UNF’s International Business Program was established in 1996 with the creation of a major in International Business and the Center for International Business Studies. Under the direction of Dr. Jeffrey Steagall and with the active support of the business community, the number of majors has grown to approximately 200 students, and the number of faculty teaching and conducting research in international business has grown significantly. The IB major prepares students for careers with the expanding number of firms engaged in international business. The Compass Bank Scholarship program is designed to support four students with full tuition and books scholarships each year.

Compass Bank operates 41 full-service banking centers in Florida, including 25 in the metropolitan Jacksonville area. Compass Bank is a subsidiary of Compass Bancshares, Inc., a Sunbelt-based financial holding company with $23.5 billion in assets and 343 full-service banking offices in Alabama, Arizona, Colorado, Florida, Nebraska, New Mexico and Texas. Compass is among the top 40 U.S. bank holding companies by asset size and ranks among the top earners of its size based on return on equity. The company's earnings per share have increased for 14 consecutive years and dividends per share have increased for 21 consecutive years. Shares of Compass' common stock are traded through the Nasdaq stock market under the symbol CBSS.