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Fulton Financial lists results of election by Columbia shareholders

February 26, 2006

LANCASTER, Pa. - Fulton Financial Corporation recently announced the final results of elections made by Columbia Bancorp shareholders regarding the form of merger consideration to be received in the acquisition of Columbia Bancorp by Fulton Financial, which was finalized on Feb. 1.

Each of Columbia's stockholders had the opportunity to elect to receive $42.48 per share in cash, 2.325 shares of Fulton stock for each share of Columbia's stock or a combination of cash and stock. The elections were subject to prorating to achieve a result in which, at a minimum, 20 percent and, at a maximum, 50 percent, of Columbia's outstanding shares would be converted into the cash consideration.

Columbia's stockholders made cash elections for more than 50 percent of the outstanding Columbia shares.

As a result, the cash elections had to be prorated:

· Stockholders who made valid cash or combination elections will receive cash consideration for 94.9 percent of the shares for which they made a cash election, with 5.1 percent of the shares for which a cash election was made being converted into Fulton Financial Corporation common stock instead of cash.


· Stockholders who made valid stock elections will receive the stock consideration they elected, without prorating.

· Stockholders who did not make a valid election will receive Fulton stock.

Under the terms of the merger agreement, fractional shares of Fulton Financial common stock will not be issued.

Former Columbia Bancorp shareholders will receive cash in lieu of any fractional share.

No interest will be paid to former Columbia Bancorp shareholders on either the cash consideration or cash to be paid in lieu of fractional shares.

Fulton Financial Corporation, based in Lancaster, has assets of $13.7 billion and employs more than 4,000 people through its 15 banks in Pennsylvania, Maryland, Delaware, New Jersey and Virginia.

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