Regions Declares Increased Dividend

    Business Editors

    BIRMINGHAM, Ala.--(BUSINESS WIRE)--Jan. 21, 2005--The Regions Financial Corporation (NYSE:RF) Board of Directors has declared a quarterly cash dividend of $0.34 per share, payable Feb. 15, 2005, to stockholders of record as of Feb. 1, 2005. This is an increase over the previous quarterly cash dividend, which was $.3334 per share.
    This increased dividend marks the 34th consecutive year that Regions has increased its quarterly cash dividend and is the 135th consecutive quarter in which the company has paid cash dividends, going back to its formation in 1971.
    Regions continues to be recognized for its strong dividend record, most recently as a Mergent Inc. 2004 Dividend Achiever, as a Wall Street Journal Dividend Aristocrat and by being added to the Dow Jones Select Dividend Index.

    About Regions Financial Corporation

    Regions Financial Corporation (NYSE:RF), headquartered in Birmingham, Ala., is a full-service provider of retail and commercial banking, securities brokerage, mortgage, and insurance products and services. With its merger with former Union Planters Corp. complete, Regions had assets of $84.1 billion as of Dec. 31, 2004, making it one of the nation's Top 15 financial services providers. Regions' banking subsidiaries, Regions Bank and Union Planters Bank, operate some 1,400 offices and a 1,700-ATM network across a 15-state geographic footprint in the South, Midwest and Texas. Its investment and securities brokerage, trust and asset management division, Morgan Keegan & Company Inc., provides services from more than 240 offices. Additional information about the new Regions, which is a member of both the Forbes and Fortune 500 and operates one of the Top 20 mortgage companies in the United States, can be found at www.regions.com.

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CONTACT: Regions Financial Corporation, Birmingham Investor Relations Contact: Jenifer M. Goforth, 205/244-2823 jenifer.goforth@regions.com or Media Relations Contact: Kristi Lamont Ellis, 205/326-7179 kristi.ellis@regions.com

KEYWORD: ALABAMA INDUSTRY KEYWORD: BANKING DIVIDEND SOURCE: Regions Financial Corporation

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