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Fulton purchase of Premier OK'd

August 10, 2003

Fulton Financial Corp. has completed its acquisition of Premier Bancorp Inc., a bank holding company whose sole banking subsidiary was Premier Bank.

Premier Bancorp shareholders approved the merger at a special meeting on July 10. Final regulatory approvals were received prior to that meeting.

Under the terms of the definitive merger agreement, Premier Bancorp shareholders will receive 1.407 shares of Fulton Financial common stock for each Premier Bancorp common stock share. Outstanding shares of Premier's preferred stock were redeemed and Fulton assumed Premier's outstanding trust preferred securities.

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