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<TITLE>BB&amp;T 1995 OMNIBUS STOCK INCENTIVE PLAN</TITLE>
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<H1 ALIGN="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="4"><B>SECURITIES
AND EXCHANGE COMMISSION<br> Washington, D.C. 20549</B></FONT></FONT></H1>

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<H1 ALIGN="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="4"><B>FORM S-8<br>
REGISTRATION STATEMENT<br>  UNDER<br>  THE SECURITIES ACT OF 1933</B></FONT></FONT></H1>

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<p ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><B><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BB&amp;T
CORPORATION&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></b></font><br>  <FONT SIZE="3">(Exact name of registrant as specified in its charter)</FONT></p>
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     <TD WIDTH="50%" ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>NORTH CAROLINA</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
     <TD WIDTH="50%" ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b>56-0939887</b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
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     <TD ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(State or other jurisdiction of</FONT></TD>
     <TD ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(I.R.S. Employer Identification</FONT></TD></TR>
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     <TD ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;incorporation of organization)</FONT></TD>
     <TD ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Number)</FONT></TD></TR>
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<p ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><B>200 West
Second Street</b><br>  <b><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Winston-Salem, North Carolina 27101&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></FONT><br>
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">(Address of principal executive offices, including zip code)</FONT></p><br>


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<p ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><B>BB&amp;T
CORPORATION<br>  1995 OMNIBUS STOCK INCENTIVE PLAN<br>  <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(As Amended Through February 25, 2003)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></FONT><br>
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">(Full title of the plan)</FONT></p><br>

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<p ALIGN="center"><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><B>Jerone C.
Herring, Esq.<br>  BB&amp;T Corporation<br>  200 West Second Street<br>  3rd Floor<br>  Winston-Salem,
North Carolina 27101<br>  <U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(336) 733-2180&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></B></FONT><br>  <FONT FACE="Times New Roman, Times, Serif" SIZE="3">(Name, address and telephone number, including area
code,  of agent for service)</FONT></p><br>


<p align=center><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><B> CALCULATION OF REGISTRATION FEE</b></font></p> <hr color=black>


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     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH></TR>
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     <TD WIDTH="24%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="26%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="20%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>Proposed</b></FONT></TD>
     <TD WIDTH="15%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>Proposed</b></FONT></TD>
     <TD WIDTH="15%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
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     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>Title of</b></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>maximum</b></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>maximum</b></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
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     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>securities</b></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>Amount</b></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>offering</b></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>aggregate</b></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>Amount of</b></FONT></TD></TR>
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     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>to be</b></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>to be</b></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>price</b></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>offering</b></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>registration</b></FONT></TD></TR>
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     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U><b>registered</b></U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U><b>registered</b></U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U><b>per share&nbsp;(2)&nbsp;</b></U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U><b>price&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;</b></U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U><b>fee&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2)&nbsp;</b></U></FONT></TD></TR>
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     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Common</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
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     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Stock, par value</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
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     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">$5.00 per share</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">12,991,683 shares</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">$32.13 - $32.505</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">$421,487,089</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">$34,099</FONT></TD></TR>
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     <TD ALIGN="LEFT" WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(1)</font> </TD>
     <TD WIDTH="92%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Each
share of the Registrant&#146;s Common Stock includes one preferred share purchase right.</font></P></TD>
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     <TD ALIGN="left" WIDTH="5%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(2)</font> </TD>
     <TD WIDTH="92%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Pursuant
to Rule 457(c) and (h)(1),  based on (i) the average ($32.505) of the high ($32.75)
and low ($32.26) prices of the Registrant's  Common Stock on April 25, 2003, as
reported on the New York Stock Exchange  (10,838,171 shares); and (ii) the average
option price ($32.13)  for 2,153,512 shares being  registered  herein which are
available for issuance upon the exercise of  outstanding  options  granted under the
Company's 1995 Omnibus Stock Incentive Plan.</font></P></TD>
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<H1 ALIGN="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="3"><B>PART II</B></FONT></FONT></H1>

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<H1 ALIGN="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="3"><B>INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</B></FONT></FONT></H1>

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<H1 ALIGN="left"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="3"><B><U>Item 3.</U>&nbsp;&nbsp;
<U>Incorporation of Documents by Reference.</U> </B></FONT></FONT></H1>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="Times New Roman, Times, Serif" SIZE="3">The
following documents filed by BB&amp;T Corporation (the &#147;Company&#148; or  &#147;BB&amp;T&#148;)
with the Securities and Exchange Commission (the  &#147;Commission&#148;) under the
Securities Exchange Act of 1934, as amended  (the &#147;Exchange Act&#148;), are
incorporated herein by reference:</font></font></P>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company's  Annual Report on Form 10-K for the year ended December 31, 2002, as filed
with the Commission on March 7, 2003;</font></P>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company's  Current  Report on Form 8-K filed with the  Commission on January 13,
2003;</font></P>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The  description  of the Company's  Common  Stock,  par value $5.00 per share,  contained
in the Company's  Registration <FONT FACE="Times New Roman, Times, Serif" SIZE="3">Statement
on form 8-A filed with the Commission on September 4, 1991 with respect to such  Common
Stock, including any amendment or report filed for the purposes of  updating such
description;</font></font></P>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The Company's  Registration  Statement on Form 8-A relating to the  Company's
shareholder  rights plan,  filed with the Commission
on January 10, 1997; and</font></P>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
All other  reports  filed  pursuant  to Section  13(a) or 15(d) of the  Exchange  Act
since the end of the  fiscal  year  referred to in (a) above; and</font></P>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All
documents subsequently filed by the Company pursuant to Sections 13(a), 13(c),  14 and
15(d) of the Exchange Act, prior to the filing of a post-effective  amendment which
indicates that all securities offered hereby have been sold or  which deregisters all
securities remaining unsold, shall be deemed to be  incorporated by reference herein and
to be a part hereof from the date of the  filing of such documents.</font></P>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to General  Instruction E to Form S-8, the contents of Registration  Statement No.
33-03989 and Registration  Statement No.  333-36540, relating to the offer and sale of
the Registrant&#146;s Common Stock under the  BB&amp;T Corporation 1995 Omnibus Stock
Incentive Plan, as amended and restated  (formerly, the Southern National Corporation
1995 Omnibus Stock Incentive Plan),  are incorporated by reference in this Registration
Statement on Form S-8.</font></P>

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<H1 ALIGN="left"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="3"><B><B><U>Item 4.</U>&nbsp;&nbsp;
<U>Description of Securities.</U></B></B></FONT></FONT></H1>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable.</font></P>

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<H1 ALIGN="left"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="3"><B><U>Item 5.</U>&nbsp;&nbsp;
<U>Interests  of Named Experts and Counsel.</U></B></FONT></FONT></H1>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
legality of the securities offered hereby has been passed upon for the Company by Jerone C. Herring, Executive Vice President, Secretary and General Counsel of the Company.  Mr. Herring owns shares of Common Stock of the Company and holds options to purchase additional shares of Common Stock.</font> </P>

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<H1 ALIGN="left"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B><U>Item 6.</U>&nbsp;&nbsp;
<U>Indemnification of Directors and Officers.</U></B></FONT></H1>


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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B></B>Sections
55-8-50 through 55-8-58 of the North Carolina Business Corporation  Act contain specific
provisions relating to indemnification of directors and  officers of North Carolina
corporations. In general, such sections provide that:  (i) a corporation must indemnify a
director or officer who is wholly successful  in his defense of a proceeding to which he
is a party because of his status as  such, unless limited by the articles of
incorporation, and (ii) a corporation  may indemnify a director or officer if he is not
wholly successful in such  defense if it is determined as provided by statute that the
director or officer  meets a certain standard of conduct, except that when a director or
officer is  liable to the corporation or is adjudged liable on the basis that personal
benefit was improperly received by him, the corporation may not indemnify him. A
director or officer of a corporation who is a party to a proceeding may also  apply to a
court for indemnification, and the court may order indemnification  under certain
circumstances set forth in statute. A corporation may, in its  articles of incorporation
or bylaws or by contract or resolution of the board of  directors, provide
indemnification in addition to that provided by statute,  subject to certain conditions.</font></P>




<br><br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">II - 1</font></P><br><br>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
registrant's  bylaws provide for the  indemnification  of any director or officer of the
registrant  against  liabilities  and litigation  expenses arising out of his status as
such, excluding: (i) any liabilities or  litigation expenses relating to activities that
were at the time taken known or  believed by such person to be clearly in conflict with
the best interest of the  registrant and (ii) that portion of any liabilities or
litigation expenses with  respect to which such person is entitled to receive payment
under any insurance  policy.</font></P>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
registrant's  articles of incorporation provide for the elimination of the personal
liability of each director of the registrant  to the fullest extent permitted by law.</font></P>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
registrant maintains directors' and officers' liability insurance that, in general,
insures: (i) the registrant's directors and officers  against loss by reason of any of
their wrongful acts and (ii) the registrant  against loss arising from claims against the
directors and officers by reason of  their wrongful acts, all subject to the terms and
conditions contained in the  policy.</font></P>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Certain
rules of the Federal Deposit Insurance Corporation limit the ability of certain
depository institutions, their subsidiaries and their affiliated depository  institution
holding companies to indemnify affiliated parties, including  institution directors. In
general, subject to the ability to purchase  directors&#146; and officers&#146; liability
insurance and to advance  professional expenses under certain circumstances, the rules
prohibit such  institutions from indemnifying a director for certain costs incurred with
regard  to an administrative or enforcement action commenced by any federal banking
agency that results in a final order or settlement pursuant to which the  director is
assessed a civil money penalty, removed from office, prohibited from  participating in
the affairs of an insured depository institution or required to  cease and desist from or
take an affirmative action described in Section 8(b) of  the Federal Deposit Insurance
Act (12 U.S.C. &sect; 1818(b)).</font></P>

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<H1 ALIGN="left"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B><U>Item 7.</U>&nbsp;&nbsp;
<U>Exemption from Registration Claimed.</U></B></FONT></H1>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Not
applicable.</font></P>

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<H1 ALIGN="left"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B><U>Item 8.</U>&nbsp;&nbsp;
<U>Exhibits.</U></B></FONT></H1>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following exhibits are filed as a part of this Registration Statement:</font></P>

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     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><U>Number</U></b> </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<b><U>Description</U></b></font></P></TD>
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     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font>
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.1 </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Amended
and Restated Articles of Incorporation of the Company, as amended, which are
incorporated herein by reference to Exhibit 3(a) to the Company&#146;s Annual  Report on
Form 10-K for the year ended December 31, 1996, filed with the  Commission on March 17,
1997.</font></P></TD>
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     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font>
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.2 </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Articles
of Amendment to the Articles of Incorporation of the Company, which are  incorporated
herein by reference to Exhibit 3(a)(ii) to the Company&#146;s  Annual Report on Form 10-K
for the year ended December 31, 1997, filed with the  Commission on March 18, 1998.</font></P></TD>
</TR>
</TABLE>
<BR>


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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.3</font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="left"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Articles
of Amendment dated May 1, 1998 to the Articles of Incorporation of the Company.</font></P></TD>
</TR>
</TABLE>
<BR>



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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.4</font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="left"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Articles
of Amendment dated April 30, 2001 to the Articles of Incorporation of the Company.</font></P></TD>
</TR>
</TABLE>
<BR>







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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font>
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.5 </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Bylaws
of the Company, as amended, which are incorporated herein by reference to  Exhibit 3(b)
to the Company&#146;s Annual Report on Form 10-K for the year ended  December 31, 1997,
filed with the Commission on March 18, 1998.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font>
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.6 </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Rights
Agreement dated as of December 17, 1996 between the Company and Branch  Banking and Trust
Company, Rights Agent, which is incorporated herein by  reference to Exhibit A filed
under Form 8-A, filed with the Commission on  January 10, 1997.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font>
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.7 </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Subordinated
Indenture (including Form of Subordinated Debt Security) between  the Company and State
Street Bank and Trust Company, Trustee, dated as of May  24, 1996, which is incorporated
herein by reference to Exhibit 4(d) to  Registration No. 333-02899.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font>
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.8 </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Senior
Indenture (including Form of Senior Debt Security) between the Company  and State Street
Bank and Trust Company, Trustee, dated as of May 24, 1996,  which is incorporated herein
by reference to Exhibit 4(c) to Registration No.  333-02899.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5 </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Opinion
of Jerone C. Herring, Executive Vice President, Secretary and General Counsel of the Company.</font></P></TD>
</TR>
</TABLE>
<BR>



<br><br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">II - 2</font></P><br><br>

<br>
<hr size=5 noshade color=maroon>
<br>

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<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.1 </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Consent
of Jerone C. Herring, Executive Vice President, Secretary and General Counsel of the Company (included in Exhibit 5).</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.2 </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Consent
of PricewaterhouseCoopers LLP.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;23.3 </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Explanatory
Note regarding Arthur Andersen LLP.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24 </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Power
of Attorney of Directors and Officers of the Company.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="6%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;99 </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> BB&amp;T Corporation
1995 Omnibus Stock Incentive Plan (as amended through February 25, 2003).</font></P></TD>
</TR>
</TABLE>
<BR>

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<A NAME="A009"></A>
<H1 ALIGN="left"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><B><U>Item 9.</U></b>&nbsp;&nbsp;
<b><U>Undertakings.</U></B></FONT></H1>

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<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(a) </font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="94%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> The
undersigned registrant hereby undertakes:</font></P></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN="TOP">
     <TD ALIGN="right" WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font>
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">(1) </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> To
file, during any period in which offers or sales are being made, a  post-effective
amendment to this Registration Statement:</font></P></TD>
</TR>
</TABLE>
<BR>

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     <TD ALIGN="RIGHT" WIDTH="12%">(i) </TD>
     <TD ALIGN="LEFT" WIDTH="3%">&nbsp;</TD>
     <TD WIDTH="88%"><P ALIGN="LEFT"> To
include any prospectus required by Section 10(a)(3) of the Securities Act of 1933 (the
&quot;Securities Act&quot;); </P></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="12%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(ii) </font></TD>
     <TD ALIGN="LEFT" WIDTH="3%">&nbsp;</TD>
     <TD WIDTH="88%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">To
reflect in the prospectus any facts or events arising after the effective  date of the
Registration Statement (or the most recent post-effective amendment  thereof) which,
individually or in the aggregate, represent a fundamental change  in the information set
forth in the Registration Statement;</font> </P></TD>
</TR>
</TABLE>
<BR>

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<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="12%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(iii)</font> </TD>
     <TD ALIGN="LEFT" WIDTH="3%">&nbsp;</TD>
     <TD WIDTH="88%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">To
include any material information with respect to the plan of distribution not  previously
disclosed in the Registration Statement or any material change to  such information in
the Registration Statement;</font> </P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="right" WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font>
<FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>provided</U>,
<U>however</U>, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the  information
required to be included in a post-effective amendment by those  paragraphs is contained
in periodic reports filed with or furnished to the  Commission by the Company pursuant to
Section 13 or Section 15(d) of the  Exchange Act that are incorporated by reference in
the Registration Statement.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="right" WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font>
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">(2) </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> That,
for the purpose of determining any liability under the Securities Act,  each such
post-effective amendment shall be deemed to be a new registration  statement relating to
the securities offered therein, and the offering of such  securities at that time shall
be deemed to be the initial bona fide offering  thereof.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="right" WIDTH="8%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font>
<FONT FACE="Times New Roman, Times, Serif" SIZE="3">(3) </font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> To
remove from registration by means of a post-effective amendment any of the  securities
being registered which remain unsold at the termination of the  offering.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(b)</font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="94%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
The Company hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Company&#146;s annual report
pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is
incorporated by reference in the Registration Statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(c)</font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="94%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
Insofar as indemnification for liabilities arising under the Securities Act may
be permitted to directors, officers and controlling persons of the Company
pursuant to the foregoing provisions, or otherwise, the Company has been advised
that in the opinion of the Commission such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than
the payment by the Company of expenses incurred or paid by a director, officer
or controlling person of the Company in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, the Company will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities
Act and will be governed by the final adjudication of such issue.</font></P></TD>
</TR>
</TABLE>
<BR>


<br><br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">II - 3</font></P><br><br>


<br>
<hr size=5 noshade color=maroon>
<br>




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<A NAME="A010"></A>
<H1 ALIGN="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="3"><B><U>SIGNATURES</U></B></FONT></FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major" -->
<A NAME="A011"></A>
<H1 ALIGN="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="3"><B>THE
REGISTRANT</B></FONT></FONT></H1>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, BB&amp;T Corporation
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Winston-Salem, State of North Carolina, on this 30<sup>th</sup>
day of April, 2003.</font> </P>


<TABLE align=center CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="750">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="45%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="55%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>BB&amp;T CORPORATION</b></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">By:<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ Jerone C. Herring&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jerone C. Herring</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Executive Vice President</FONT></TD></TR>
</TABLE>

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<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement
has been signed by the following persons in the capacities indicated on
April 30, 2003.</font> </P>



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<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="13%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="40%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ John A. Allison IV *</U></FONT></TD>
     <TD WIDTH="10%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="37%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Scott E. Reed *</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">John A. Allison IV</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Scott E. Reed</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Chairman of the Board and</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Senior Executive Vice President</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Chief Executive Officer</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">and Chief Financial Officer</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(principal executive officer)</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(principal financial officer)</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Sherry A. Kellett *</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Nelle Ratrie Chilton *</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Sherry A. Kellett</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Nelle Ratrie Chilton</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Senior Executive Vice President</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">and Controller</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(principal accounting officer)</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Alfred E. Cleveland *</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Ronald E. Deal *</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Alfred E. Cleveland</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Ronald E. Deal</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Tom D. Efird *</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Paul S. Goldsmith *</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Tom D. Efird</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Paul S. Goldsmith</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Jane P. Helm *</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">L. Vincent Hackley</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Jane P. Helm</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Richard Janeway *</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ J. Ernest Lathem *</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Richard Janeway, M.D.</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">J. Ernest Lathem, M.D.</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ James H. Maynard *</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Albert O. McCauley *</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">James H. Maynard</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Albert O. McCauley</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
</table>
<br><br>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">II - 4</font></P>

<br>
<hr size=5 noshade color=maroon>
<br>

<br><br>
<TABLE align=center CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="750">
<TR VALIGN="BOTTOM">
     <TD WIDTH="13%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="40%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ J. Holmes Morrison *</U></FONT></TD>
     <TD WIDTH="10%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="37%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Richard L. Player, Jr. *</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">J. Holmes Morrison</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Richard L. Player, Jr.</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Nido R. Qubein *</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ E. Rhone Sasser *</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Nido R. Qubein</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">E. Rhone Sasser</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Jack E. Shaw *</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Jack E. Shaw</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">*By:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Jerone C. Herring</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name: Jerone C. Herring</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Attorney-in-Fact</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
</TABLE>
<br><br><br><br><br><br><br><br><br>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">II - 5</font></P><br><br>

<br>
<hr size=5 noshade color=maroon>
<br>

                          <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b><a name="index">EXHIBIT INDEX</a><br>
                               to<br>
              Registration Statement on Form S-8 of<br>
                        BB&amp;T Corporation</b></font></P>



<!-- MARKER FORMAT-SHEET="Para Hang Roman" -->
<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b><U>Exhibit No.</U></b></font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">
<b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Description</U></b></font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">4.1 </font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Amended
and Restated  Articles of Incorporation of the Company,  as amended,  which are
incorporated  herein by reference to Exhibit 3(a)  to the Company's Annual Report on Form
10-K for the year ended December 31, 1996, filed with the Commission on March 17, 1997. *</font></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Roman" -->
<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">4.2 </font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Articles
of Amendment to the Articles of  Incorporation of the Company,  which are  incorporated
herein by reference to Exhibit 3(a)(ii)  to the Company's Annual Report on Form 10-K for
the year ended December 31, 1997, filed with the Commission on March 18, 1998. *</font></P></TD>
</TR>
</TABLE>
<BR>


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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#fourthree">4.3</a></font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="left"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#fourthree">Articles
of Amendment dated May 1, 1998 to the Articles of Incorporation of the Company.</a></font></P></TD>
</TR>
</TABLE>
<BR>



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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#fourfour">4.4</a></font></TD>
     <TD ALIGN="justify" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="left"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#fourfour">Articles
of Amendment dated April 30, 2001 to the Articles of Incorporation of the Company.</a></font></P></TD>
</TR>
</TABLE>
<BR>







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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">4.5 </font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Bylaws
of the Company,  as amended,  which are  incorporated  herein by reference to Exhibit
3(b) to the Company's  Annual Report on Form  10-K for the year ended December 31, 1997,
filed with the Commission on March 18, 1998. *</font></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Roman" -->
<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">4.6 </font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Rights
Agreement  dated as of December  17,  1996  between the Company and Branch  Banking and
Trust  Company,  Rights  Agent,  which is  incorporated herein by reference to Exhibit A
filed under Form 8-A, filed with the Commission on January 10, 1997. *</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">4.7 </font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Subordinated
Indenture  (including  Form of  Subordinated  Debt  Security)  between the Company and
State Street Bank and Trust Company,  Trustee, dated as of May 24, 1996, which is
incorporated herein by reference to Exhibit 4(d) to Registration No. 333-02899.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">4.8 </font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> Senior
Indenture  (including Form of Senior Debt Security)  between the Company and State Street
Bank and Trust Company,  Trustee,  dated  as of May 24, 1996, which is incorporated
herein by reference to Exhibit 4(c) to Registration No. 333-02899.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#five">5 </a></font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#five">Opinion
of Jerone C. Herring, Executive Vice President, Secretary and General Counsel of the Company.</a></font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#five">23.1</a></font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#five">Consent
of Jerone C. Herring, Executive Vice President, Secretary and General Counsel of the Company (included in Exhibit 5).</a></font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#twothreetwo">23.2</a></font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#twothreetwo">Consent
of PricewaterhouseCoopers LLP.</a></font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#twothreethree">23.3</a></font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#twothreethree">Explanatory
Note regarding Arthur Andersen LLP.</a></font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#twofour">24</a></font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#twofour">Power
of Attorney of Directors and Officers of the Company.</a></font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="left" WIDTH="9%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a href="#ninenine">99</a></font></TD>
     <TD ALIGN="LEFT" WIDTH="3%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD WIDTH="91%"><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> <a href="#ninenine">BB&amp;T
Corporation 1995 Omnibus Stock Incentive Plan (as amended through February 25, 2003).</a></font></P></TD>
</TR>
</TABLE>
<BR><BR><BR><BR><BR><BR><BR><BR><BR>













<hr size=2 align=left width=250><br>
<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">* Incorporated by reference.</font></P>



<br>
<hr size=5 noshade color=maroon>
<br>


<br><br><br><br><br><br><br><br><br><br><br><br><br><br>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">EXHIBIT 4.3</font></P>
<br><br><br><br><br><br><br><br><br><br><br><br><br><br>





<br>
<hr size=5 noshade color=maroon>
<br>


<P ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b><U><a name="fourthree">EXHIBIT 4.3</a></U></b></font></P>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>ARTICLES OF AMENDMENT OF<BR> BB&amp;T CORPORATION</b></font></P>

<!-- MARKER FORMAT-SHEET="Para 10 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned corporation hereby submits these Articles of Amendment for the purpose of
amending its Article of Incorporation:</font></P>

<!-- MARKER FORMAT-SHEET="Para Hang Arabic In 1" -->
<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="4%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD ALIGN="LEFT" WIDTH="4%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1. </font></TD>
     <TD WIDTH="92%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> The
name of the corporation is BB&amp;T Corporation.</font></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Hang Arabic In 1" -->
<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="4%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD ALIGN="LEFT" WIDTH="4%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">2. </font></TD>
     <TD WIDTH="92%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> The
following amendment to the Articles of Incorporation of the corporation was adopted by
its shareholders on the 28<sup>the</sup> day of April, 1998, in the manner prescribed by
law:</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="8%">&nbsp;</TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Delete
the first sentence of Article IV and substitute therefore the following:</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="8%">&nbsp;</TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&#147;The
Corporation shall have authority to issue 500,000,000 shares of Common Stock, par value
$5 each, and 5,000,000 shares of Preferred Stock, par value $5 each.&#148;</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="4%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD ALIGN="LEFT" WIDTH="4%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">3. </font></TD>
     <TD WIDTH="92%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">The above amendment is effective upon filing.</font></P></TD>
</TR>
</TABLE>
<BR>


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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="2%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD ALIGN="LEFT" WIDTH="2%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> </font></TD>
     <TD WIDTH="96%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">This the
1<sup>st</sup> day of May, 1998.</font></P></TD>
</TR>
</TABLE>
<BR>


<TABLE align=center CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="700">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="45%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="55%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>BB&amp;T CORPORATION</b></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">By:<U>&nbsp;&nbsp;&nbsp;/s/ Jerone C. Herring&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jerone C. Herring, Secretary</FONT></TD></TR>
</TABLE><br><br>


<br><a href="#index">Back to Index</a><br>



<br>
<hr size=5 noshade color=maroon>
<br>





<br><br><br><br><br><br><br><br><br><br><br><br><br><br>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">EXHIBIT 4.4</font></P>
<br><br><br><br><br><br><br><br><br><br><br><br><br><br>





<br>
<hr size=5 noshade color=maroon>
<br>


<P ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b><U><a name="fourfour">EXHIBIT 4.4</a></U></b></font></P>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>ARTICLES OF AMENDMENT OF<BR> BB&amp;T CORPORATION</b></font></P>

<!-- MARKER FORMAT-SHEET="Para 10 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
undersigned corporation hereby submits these Articles of Amendment for the purpose of
amending its Articles of Incorporation:</font></P>

<!-- MARKER FORMAT-SHEET="Para 10 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</font><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> The  following amendment to
the Articles of Incorporation of the corporation was adopted by  its shareholders on the
24<sup>th</sup> day of April, 2001, in the manner prescribed by  law:</font></font></P>

<!-- MARKER FORMAT-SHEET="Para Flush In 3" -->
<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="8%">&nbsp;</TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Delete
the first sentence of Article IV and substitute therefore the following:</font></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para Flush In 3" -->
<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="8%">&nbsp;</TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&#147;The
Corporation shall have authority to issue 1,000,000,000 shares of Common Stock, par value
$5 each, and 5,000,000 shares of Preferred Stock, par value $5 each.&#148;</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="4%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD ALIGN="LEFT" WIDTH="4%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">2. </font></TD>
     <TD WIDTH="92%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"> The
above amendment is effective upon filing.</font></P></TD>
</TR>
</TABLE>
<BR>

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<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="2%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD ALIGN="LEFT" WIDTH="2%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></font></TD>
     <TD WIDTH="96%"><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">This the
30<sup>th</sup> day of April, 2001.</font></P></TD>
</TR>
</TABLE>
<BR>


<TABLE align=center CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="700">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="45%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="55%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>BB&amp;T CORPORATION</b></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">By:<U>&nbsp;&nbsp;&nbsp;/s/ Jerone C. Herring&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Jerone C. Herring, Secretary</FONT></TD></TR>
</TABLE><br><br>


<br><a href="#index">Back to Index</a><br>

<br>
<hr size=5 noshade color=maroon>
<br>




<br><br><br><br><br><br><br><br><br><br><br><br><br><br>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">EXHIBIT 5</font></P>
<br><br><br><br><br><br><br><br><br><br><br><br><br><br>


<br>
<hr size=5 noshade color=maroon>
<br>

<P ALIGN=RIGHT><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U><a name="five">EXHIBIT 5</a></U></font></P>




<!-- MARKER FORMAT-SHEET="Head Major" -->

<H1 ALIGN="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="3"><B>[BB&amp;T
Letterhead]</B></FONT></FONT></H1>

<!-- MARKER FORMAT-SHEET="Head Major" -->
<A NAME="A003"></A>
<p ALIGN="center"><FONT FACE="Times New Roman, Times, Serif"><FONT SIZE="3">May
1, 2003</FONT></FONT></p>

<!-- MARKER FORMAT-SHEET="Head Minor" -->
<A NAME="A004"></A>
<P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">BB&amp;T
Corporation <BR>200 West Second Street<br>Winston-Salem, North Carolina 27101</font></P>



<!-- MARKER FORMAT-SHEET="Para Flush In 2" -->
<TABLE WIDTH="100%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="6%">&nbsp;</TD>
     <TD><P ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Re:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Registration Statement on Form S-8 with respect to the BB&amp;T Corporation 1995 Omnibus
Stock Incentive Plan, as amended</font></P></TD>
</TR>
</TABLE>
<BR>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Ladies and Gentlemen:</font></P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I
am the Executive Vice President, Secretary and General Counsel of BB&amp;T
Corporation (the &#147;Company&#148;), and I am familiar with the proceedings
taken by the Company in connection with its registration under the Securities
Act of 1933, as amended, of an aggregate of 12,991,683 shares of its common
stock, $5.00 par value (the &#147;Shares&#148;), which are proposed to be
offered and sold pursuant to the BB&amp;T Corporation 1995 Omnibus Stock
Incentive Plan, as amended and restated through February 25, 2003 (the
&#147;Plan&#148;). The Company is filing a Registration Statement on Form S-8
(the &#147;Registration Statement&#148;) with the Securities and Exchange
Commission (the &#147;Commission&#148;) with respect to the Shares. This opinion
is provided pursuant to the requirements of Item 8(a) of Form S-8 and Item
601(b)(5) of Regulation S-K.</font> </P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I
have reviewed the Company&#146;s articles of incorporation and bylaws, each as
amended to date, and have examined the originals, or copies certified or
otherwise identified to my satisfaction, of corporate records of the Company,
including minute books of the Company, certificates of public officials and of
representatives of the Company, statutes and other instruments and documents, as
a basis for the opinions hereinafter expressed. In rendering this opinion, I
have relied upon certificates of public officials and officers of the Company
with respect to the accuracy of the factual matters contained in such
certificates. I also have reviewed the Plan and the Registration Statement.</font> </P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with such review, I have assumed (1) the genuineness of all
signatures and the legal competence of all signatories; (2) the authenticity of
all documents submitted as originals and the conformity to original documents of
all documents submitted as certified or photostatic copies; and (3) the proper
issuance and accuracy of certificates of public officials and officers and
agents of the Company. In rendering opinions as to future events, I have assumed
the facts and law existing on the date hereof.</font> </P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based
upon and subject to the foregoing and the qualifications and limitations set
forth below, and having regard for such legal considerations as I have deemed
relevant, I am of the opinion that the Shares have been duly authorized and,
when issued and paid for in accordance with the terms of the Plan, will be
validly issued, fully paid and nonassessable.</font> </P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
opinion is delivered solely for the Company&#146;s benefit in connection with
the Registration Statement and the transactions provided for therein and may not
be relied upon by any other person or for any other purpose without my prior
written consent.</font> </P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
opinion is limited to the laws of the State of North Carolina, and I am
expressing no opinion as to the effect of the laws of any other jurisdiction.</font> </P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I
hereby consent to being named in the Registration Statement as an attorney who
passed upon the validity of the Shares and to the filing of a copy of this
opinion as Exhibit 5 to the Registration Statement. In giving this consent, I do
not admit that I am within the category of persons whose consent is required by
Section 7 of the Securities Act, or other rules and regulations of the
Commission thereunder.</font> </P>




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<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="50%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="50%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Very truly yours,</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">/s/ Jerone C. Herring</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Jerone C. Herring</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Executive Vice President, Secretary</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">and General Counsel</FONT></TD></TR>
</TABLE>




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<br><br><br><br><br><br><br><br><br><br><br><br>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">EXHIBIT 23.2</font></P>

<br><br><br><br><br><br><br><br><br><br><br><br><br>

<br>
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<br>

<P ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U><a name="twothreetwo">EXHIBIT 23.2</a></U></font></P>


<P align=center><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><u>CONSENT OF INDEPENDENT ACCOUNTANTS</u></font></P>
<br>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated January 28, 2003 relating to the financial statements of BB&amp;T Corporation, which appears in BB&amp;T Corporation's Annual Report on Form 10-K for the year ended December 31, 2002.</font></P>


<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><u>&nbsp;&nbsp;&nbsp;/s/  PricewaterhouseCoopers LLP&nbsp;&nbsp;&nbsp;</u><br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PricewaterhouseCoopers LLP<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Greensboro, North Carolina<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;April 30, 2003</font></p>

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<br><br><br><br><br><br><br><br><br><br><br><br>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">EXHIBIT 23.3</font></P>

<br><br><br><br><br><br><br><br><br><br><br><br>


<br>
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<br>


<P ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U><a name="twothreethree">EXHIBIT 23.3</a></U></font></P>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b><U>EXPLANATORY NOTE REGARDING ARTHUR ANDERSEN LLP</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
consolidated  financial  statements  of BB&amp;T  Corporation  and its  subsidiaries  as
of and for the year  ended  December  31,  2002  which  are  incorporated  by reference
into this  registration  statement from BB&amp;T's annual report on Form 10-K for the
year ended December 31, 2002 and filed with the SEC  on March 7, 2003 have been so
incorporated  in reliance on the report of  PricewaterhouseCoopers  LLP,  independent
accountants,  given on the authority of said  firm as experts in auditing and accounting.</font> </P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
consolidated  financial  statements as of December 31, 2001 and for each of the two years
in the period ended December 31, 2001,  incorporated by  reference in this  registration
statement,  have been audited by Arthur  Andersen  LLP,  independent  certified  public
accountants,  as stated in their report  incorporated by reference herein.</font> </P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;On
March 20, 2002, BB&amp;T announced that it had appointed  PricewaterhouseCoopers  LLP to
replace Arthur  Andersen LLP as its independent  accountants.  After reasonable  efforts,
we have been unable to obtain Arthur  Andersen's  updated written consent to the
incorporation  by reference into this  registration  statement of Arthur  Andersen's
audit reports with respect to our financial  statements.  Under these  circumstances,
Rule 437a under the Securities Act permits  us to omit Arthur Andersen's updated written
consent from this registration statement.</font> </P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Section
11(a) of the  Securities  Act provides  that if any part of a  registration  statement at
the time it becomes  effective  contains an untrue  statement of a material fact or an
omission to state a material fact required to be stated  therein or necessary to make the
statements  therein not  misleading,  any person  acquiring a security  pursuant to such
registration  statement  (unless it is proved that at the time of such  acquisition  such
person knew of such  untruth or omission)  may sue,  among  others,  every  accountant
who has  consented to be named as having  prepared or certified  any part of the
registration  statement or as having prepared or certified any report or valuation which
is used in connection  with the  registration  statement with respect to the statement
in such registration statement, report or valuation which purports to have been prepared
or certified by the accountant.</font> </P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accordingly,
Arthur  Andersen may not be liable under Section 11(a) of the  Securities  Act because it
has not consented to being named as an expert  in the  registration  statement.  BB&amp;T
believes,  however,  that other persons who may be liable under Section 11(a) of the
Securities  Act,  including  BB&amp;T's  officers and directors,  may still rely on
Arthur  Andersen's audit reports as being made by an expert under the due diligence
defense provision of Section 11(b)  of the Securities Act.</font> </P>
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<br><br><br><br><br><br><br><br><br><br>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">EXHIBIT 24</font></P>

<br><br><br><br><br><br><br><br><br><br>

<br>
<hr size=5 noshade color=maroon>
<br>


<P ALIGN=right><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U><a name="twofour">EXHIBIT 24</a></U></font></P>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b><U>POWER OF ATTORNEY</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each
of the undersigned,  being a director and/or officer of BB&amp;T Corporation  (the
&quot;Company&quot;),  hereby  constitutes and appoints John A. Allison and  Jerone C.
Herring,  and each of them, the true and lawful  attorneys-in-fact  and agents of the
undersigned,  with full power of substitution and resubstitution,  for and in the name,
place and stead of the undersigned,  in any and all  capabilities,  to sign any and all
amendments  (including  post-effective  amendments,  exhibits thereto and other documents
in connection  therewith) to this Registration  Statement on Form S-8 filed by the
Registrant pursuant to the Securities Act  of 1933, as amended,  relating to the offer
and sale of shares of the  Company's  common stock,  $5.00 par value,  pursuant to the
terms of the BB&amp;T  Corporation  1995 Omnibus Stock Incentive Plan, as amended and
restated,  and to file the same, with all exhibits thereto and all documents in
connection therewith,  with the  Securities and Exchange  Commission,  and hereby grants
to such  attorneys-in-fact  and agents, and each of them, full power and authority to do
and perform each  and every act and thing  requisite  and  necessary  to be done,  as
fully to all intents  and  purposes as the  undersigned  might or could do in person,
hereby  ratifying and confirming all that said  attorneys-in-fact  and agents, or any of
them, or their or his substitute,  may lawfully do or cause to be done by virtue  hereof.</font> </P>

<!-- MARKER FORMAT-SHEET="Para" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This
Power of Attorney has been signed by the following persons in the capacities indicated on
April 22, 2003.</font> </P>



<TABLE align=center CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="750">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="13%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="40%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ John A. Allison IV</U></FONT></TD>
     <TD WIDTH="10%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="37%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Scott E. Reed</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">John A. Allison IV</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Scott E. Reed</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Chairman of the Board and</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Senior Executive Vice President</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Chief Executive Officer</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">and Chief Financial Officer</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(principal executive officer)</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(principal financial officer)</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Sherry A. Kellett</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Nelle Ratrie Chilton</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Sherry A. Kellett</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Nelle Ratrie Chilton</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Senior Executive Vice President</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">and Controller</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">(principal accounting officer)</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Alfred E. Cleveland</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Ronald E. Deal</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Alfred E. Cleveland</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Ronald E. Deal</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Tom D. Efird</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Paul S. Goldsmith</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Tom D. Efird</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Paul S. Goldsmith</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Jane P. Helm</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">L. Vincent Hackley</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Jane P. Helm</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Richard Janeway</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ J. Ernest Lathem</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Richard Janeway, M.D.</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">J. Ernest Lathem, M.D.</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ James H. Maynard</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Albert O. McCauley</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">James H. Maynard</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Albert O. McCauley</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
</table>
<br><br>

<br>
<hr size=5 noshade color=maroon>
<br>

<br><br>
<TABLE align=center CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="750">
<TR VALIGN="BOTTOM">
     <TD WIDTH="13%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="40%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ J. Holmes Morrison</U></FONT></TD>
     <TD WIDTH="10%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="37%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Richard L. Player, Jr.</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">J. Holmes Morrison</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Richard L. Player, Jr.</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Nido R. Qubein</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ E. Rhone Sasser</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Nido R. Qubein</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">E. Rhone Sasser</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>/s/ Jack E. Shaw</U></FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Name:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Jack E. Shaw</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Title:</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Director</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>

</TABLE>
<br><br><br><br><br><br><br><br><br>







<br><a href="#index">Back to Index</a><br>

<br>
<hr size=5 noshade color=maroon>
<br>

<br><br><br><br><br><br><br><br><br><br><br><br>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><a name="ninenine">EXHIBIT 99</a></font></P>

<br><br><br><br><br><br><br><br><br><br><br><br><br>

<br>
<hr size=5 noshade color=maroon>
<br>


<br><br><br><br><br><br><br><br>
<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>SOUTHERN NATIONAL CORPORATION</b></font></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>1995 OMNIBUS STOCK INCENTIVE PLAN</b></font></P>

<br><br><br><br><br><br><br><br><br><br><br><br>









 <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>Effective April 10, 1995</b></font></P>

  <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>(As Amended and Restated Effective April 23, 1996)</b></font></P>
<br>


<br>
<hr size=5 noshade color=maroon>
<br>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>SOUTHERN NATIONAL CORPORATION</b></font></P>

 <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b><U>1995 OMNIBUS STOCK INCENTIVE PLAN</U></b></font></P>


             <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>ARTICLE I</b></font></P>

            <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b><U>DEFINITIONS</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.01.  <U>Agreement</U>
means a written  agreement  (including  any  amendment or  supplement  thereto)  between
SNC and a  Participant  specifying  the terms and  conditions of an award of Restricted
Stock, Performance Shares or Performance Units or an Option or SAR granted to such
Participant.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.02.  <U>Applicable
Percentage</U>  means the same  percentage,  in multiples of 5%, by which the Performance
Share Value during a Valuation  Period exceeds the  Fair Market  Value of SNC Common
Stock on the date that a  Performance  Share award was  granted.  The  Applicable
Percentage  cannot be less than zero but can  exceed 100%.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.03.  <U>Board</U> means
the Board of Directors of SNC.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.04.  <U>Code</U> means
the Internal Revenue Code of 1986, as amended.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.05.  <U>Committee</U>
means the Compensation Committee of the Board appointed to administer the Plan.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.06.
<U>Corresponding  SAR</U> means an SAR that is granted  in  relation  to a  particular  Option
and that can be  exercised  only upon the  surrender  to SNC,  unexercised, of that
portion of the Option to which the SAR relates.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.07.  <U>Date of
Exercise</U>  means (i) with  respect to an Option,  the date that the Option  price is
received by SNC and (ii) with respect to an SAR, the date  that the notice of exercise is
received by SNC.</font></P>



<br>
<hr size=5 noshade color=maroon>
<br>



<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.08.  <U>Fair Market
Value</U>  means,  on any given date,  the closing price of SNC Common Stock as reported on
the New York Stock  Exchange.  If SNC Common  Stock was not traded on the New York Stock
Exchange on such date,  then <U>Fair Market Value</U> is determined  with  reference to the next
preceding day that SNC  Common Stock was so traded.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.09.  <U>Initial
Value</U> means,  with  respect to an SAR, the Fair Market Value of one share of SNC Common
Stock on the date of grant,  as set forth in an  Agreement.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.10.  <U>Legal
Disability</U> means that a Participant is permanently and totally disabled within the
meaning of Code section&nbsp;22(e)(3).</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.11.  <U>Option</U>
means a stock option that  entitles the holder to purchase  from SNC a stated number of
shares of SNC Common Stock at the price set forth  in an Agreement.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.12.  <U>Participant</U>
means an employee of SNC or of a Subsidiary,  including an employee who is a member of
the Board,  or a non-employee  who satisfies  the requirements of Article IV and is
selected by the Committee to receive a Restricted  Stock,  Performance  Share or
Performance Unit award, an Option, an  SAR, or a combination thereof.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.12a  <U>Payout
Ratio</U> means with respect to a Performance Unit the ratio determined by dividing the
Performance Measure by the Performance Target.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.13.  <U>Performance
Share</U> means an award, in the amount determined by the Committee and specified in an
Agreement,  stated with reference to a specified  number of shares of SNC Common Stock,
that entitles the holder to receive shares of SNC Common Stock, a cash payment,  or a
combination of SNC Common Stock  and cash, in accordance  with the provisions of Article
X. The Committee,  in its  discretion,  will determine  whether a Performance  Share will
be settled  with shares of SNC Common Stock, cash or a combination of SNC Common Stock
and cash.</font></P>


<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-2-</font></P><br>

<br>
<hr size=5 noshade color=maroon>
<br>



<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.14.  <U>Performance
Share Value</U> means the lowest Fair Market Value of SNC Common Stock during a Valuation
Period.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.14a.
<U>Performance  Measure</U> means the dollar amount of  compensation  as determined by the
Committee  which is credited to a Participant  pursuant to a  Performance Unit award
based on the extent to which a profitability  target is achieved during the Valuation
Period.  The profitability  target may be based  on earnings per share,  return on equity
or any other financial measure selected by the Committee.  The Performance Measure may be
expressed as a percentage  of the Participant's base salary and may be more or less than
the Performance  Target according to the extent to which the profitability  target is
achieved  during the Valuation Period.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.14b.
<U>Performance  Target</U> means the dollar amount of  compensation  as determined by the
Committee which is established by the Committee as a target to be  paid to a  Participant
pursuant to a Performance  Unit award if the  profitability  target  established  by the
Committee is achieved  during the Valuation  Period.  The Performance Target may be
expressed as a percentage of the Participant's base salary.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.14c.
<U>Performance  Unit</U> means an award,  in an amount  determined by the Committee and
specified in an Agreement,  that entitles the holder to receive  Shares of SNC Common
Stock,  a cash  payment or a  combination  of SNC Common Stock and cash,  in  accordance
with Article  X(A).  The  Committee,  in its  discretion, will determine whether a
Performance Unit will be settled with shares of SNC Common Stock, cash or a combination
of SNC Common Stock and cash.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.15.  <U>Plan</U> means
the Southern National Corporation 1995 Omnibus Stock Incentive Plan, as it may be
hereafter amended or restated.</font></P>



<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-3-</font></P><br>

<br>
<hr size=5 noshade color=maroon>
<br>



<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.16.  <U>Restricted
Stock</U> means shares of SNC Common  Stock  awarded to a  Participant  under  Article IX.
Shares of SNC Common Stock shall cease to be  Restricted Stock when, in accordance with
the terms of the applicable Agreement, they become transferable and free of substantial
risks of forfeiture.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.17.  <U>Retirement</U>
means that a Participant has separated from service on or after his earliest early
retirement date established  under a tax-qualified  pension or profit sharing plan
maintained by SNC or a Subsidiary in which he participates.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.18.  <U>SAR</U> means a
stock  appreciation  right that entitles the holder to receive,  with respect to each
share of SNC Common Stock  encompassed  by the  exercise of such SAR, the amount
determined by the Committee and  specified in an Agreement.  In the absence of such a
determination,  the holder shall be  entitled to receive,  with  respect to each share of
SNC Common  Stock  encompassed  by the exercise of such SAR, the excess of the Fair
Market Value on the  Date of Exercise  over the Initial  Value.  References to
&quot;SARs&quot;  include both  Corresponding  SARs and SARs granted  independently  of
Options,  unless the  context requires otherwise.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.19.  <U>SNC</U> means
Southern National Corporation.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.20.  <U>SNC Common
Stock</U> means the common stock, $5.00 par value, of SNC.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.21.  <U>Subsidiary</U>
means any &quot;subsidiary corporation&quot; as such term is defined in Code section&nbsp;424.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">1.22.  <U>Valuation
Period</U> means the period  beginning on January 1 of the year in which a Performance  Share
award is granted and ending on the following  December 31. There shall be five Valuation
Periods with respect to each Performance  Share award.  With respect to Performance Unit
awards,  there shall be  such number of Valuation Periods as are determined by the
Committee at the time of grant of such award, but in no event less than three Valuation
Periods.</font></P>



<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-4-</font></P><br>

<br>
<hr size=5 noshade color=maroon>
<br>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE II</b></font></P>

   <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>PURPOSES</U></b></font></P>


<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Plan is intended to assist SNC in recruiting and retaining  employees with ability and
initiative by enabling  employees to participate  in its future  success  and to
associate  their  interests  with those of SNC and its  shareholders.  The Plan is
intended to permit the award of shares of  Restricted Stock, the award of Performance
Shares,  the award of Performance  Units, the grant of SARs, and the grant of both
Options qualifying under Code  section&nbsp;422  (&quot;incentive  stock  options&quot;)
and Options not so  qualifying.  No Option that is intended to be an incentive  stock
option shall be invalid for  failure to qualify as an incentive  stock  option.  The
proceeds  received by SNC from the sale of SNC Common Stock  pursuant to this Plan shall
be used for  general corporate purposes.</font></P>



<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-5-</font></P><br>

<br>
<hr size=5 noshade color=maroon>
<br>



    <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE III</b></font></P>

   <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>ADMINISTRATION</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as provided in this  Article III,  the Plan shall be  administered  by the  Committee.
The Committee  shall have authority to award  Restricted  Stock,  Performance  Shares and
Performance  Units and to grant Options and SARs upon such terms (not  inconsistent  with
the provisions of this  Plan) as the Committee may consider  appropriate.  Such terms may
include  conditions (in addition to those contained in this Plan) on the exercisability
of  all or any part of an Option or SAR or on the  transferability  or  forfeitability of
Restricted Stock.  Notwithstanding  any such condition,  the Committee  may, in its
discretion,  accelerate the time at which any Option or SAR may be exercised or the time
at which  Restricted  Stock may become  transferable or  nonforfeitable.  In addition,
the Committee shall have complete authority to interpret all provisions of this Plan; to
prescribe the form of Agreements;  to  adopt, amend, and rescind rules and regulations
pertaining to the administration of the Plan; and to make all other  determinations
necessary or advisable  for the  administration  of this Plan. The express grant in the
Plan of any specific power to the Committee  shall not be construed as limiting any power
or  authority of the Committee.  Any decision made, or action taken, by the Committee or
in connection with the  administration  of this Plan shall be final and  conclusive.  No
member of the  Committee  shall be liable for any act done in good  faith  with  respect
to this Plan or any  Agreement,  or  Option,  SAR,  Restricted Stock award, Performance
Share award or Performance Unit award.  All expenses of administering this Plan shall be
borne by SNC.</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Committee,  in its discretion,  may delegate to one or more officers of SNC, all or part
of the  Committee's  authority and duties with  respect to Participants  who are not
subject to the reporting and other  provisions of Section 16 of the Securities  Exchange
Act of 1934, as in effect from  time to time.  In the  event of such  delegation,  and as
to  matters  encompassed  by the  delegation,  references  in the Plan to the  Committee
shall be  interpreted  as a reference to the  Committee's  delegate or  delegates.  The
Committee  may revoke or amend the terms of a delegation at any time but such  action
shall not invalidate any prior actions of the Committee's delegate or delegates that were
consistent with the terms of the Plan.</font></P>


<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-6-</font></P><br>

<br>
<hr size=5 noshade color=maroon>
<br>


     <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE IV</b></font></P>

    <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>ELIGIBILITY</U></b></font></P>




<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">4.01.  <U>General</U>.
Any employee of SNC or of any Subsidiary  (including  any  corporation  that becomes a
Subsidiary  after the adoption of this Plan) is  eligible to participate in this Plan if
the Committee, in its sole discretion,  determines that such person has contributed or
can be expected to contribute  to the profits or growth of SNC or a Subsidiary.  Any such
employee may receive an award of Restricted  Stock,  Performance  Shares or Performance
Units or  may be granted one or more  Options,  SARs,  or Options  and SARs.  A Director
of SNC who is an  employee  of SNC or a  Subsidiary  may receive an award of  Restricted
Stock,  Performance  Shares and Performance  Units and may be granted Options or SARs
under this Plan.  Further,  the Committee may from time to  time in its sole discretion
make awards of Restricted  Stock,  Performance  Shares and Performance  Units and may
grant Options or SARs to  non-employees or  non-key  employees in conjunction  with
mergers and  acquisition  transactions.  A member of the Committee may not  participate
in this Plan during the time  that his participation would prevent the Committee from
being  &quot;disinterested&quot;  for purposes of Securities and Exchange  Commission
Rule&nbsp;16b-3 as in effect  from time to time.</font></P>



<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">4.02.  <U>Grants</U>.
The Committee will designate  individuals to whom Restricted Stock,  Performance  Shares
and Performance Units are to be awarded and to  whom Options and SARs are to be granted
and will specify the number of shares of SNC Common Stock  subject to each award or
grant.  An Option may be granted  with or without a related  SAR. An SAR may be granted
with or without a related  Option.  All  Restricted  Stock,  Performance  Share and
Performance  Unit  awards,  and all Option and SAR grants,  under this Plan shall be
evidenced by Agreements  which shall be subject to the applicable  provisions of this
Plan  and to such other  provisions  as the  Committee  may adopt.  Incentive  stock
options may be granted  only to  individuals  who are  employees of SNC or a  Subsidiary
or are otherwise  eligible to receive such awards under Section 422 of the Code, as such
provision may be hereafter  amended.  No Participant may  be granted incentive stock
options or related SARs (under all incentive stock option plans of SNC and its
Subsidiaries)  which are first exercisable in any  calendar year for stock having an
aggregate Fair Market Value  (determined as of the date an option is granted)  exceeding
$100,000.  No Participant may be  granted  Options and SARs that are not related to an
Option in any  calendar  year for more than 30,000  shares of SNC Common  Stock.  In
addition,  in any  calendar  year,  no  Participant  may receive  shares of SNC Common
Stock  pursuant to the grant of any awards made under the Plan for more than a total of
100,000  shares of SNC Common  Stock.  (For  purposes of the  preceding  two  sentences
an Option and  related SAR shall be treated as a single  award.) In  addition, in any
calendar year, no Participant may receive awards under the Plan payable in cash having an
aggregate dollar value in excess of $300,000.</font></P>



<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-7-</font></P><br>

<br>
<hr size=5 noshade color=maroon>
<br>



        <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE V</b></font></P>

  <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>STOCK SUBJECT TO PLAN</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">5.01.  <U>Source
of Shares.</U> Upon the award of shares of  Restricted  Stock and when a  Performance
Share or  Performance  Unit is earned,  SNC may issue  authorized but unissued SNC Common
Stock.  Upon the exercise of an Option or SAR, SNC may deliver to the  Participant  (or
the  Participant's  broker if the  Participant so directs), authorized but unissued SNC
Common Stock.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">5.02.  <U>Maximum
Number of Shares.</U> The maximum  aggregate  number of shares of SNC Common Stock that
may be issued  pursuant to the exercise of Options  and SARs and the award of Restricted
Stock and the  settlement  of  Performance  Shares and  Performance  Units under this
Plan is six million,  subject to  increases and adjustments as provided in this Article V
and Article XI.</font></P>



<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">5.03.  <U>Replenishment.</U> The
maximum number of shares  authorized for issuance under this Plan under  Section&nbsp;5.02
shall be increased each calendar year  by 3% (the  Replenishment  Percentage) of the
amount, if any, by which the total number of shares of SNC Common Stock outstanding as of
the last day of such  calendar year exceeds the total number of shares of SNC Common
Stock  outstanding as of the first day of such calendar year.  Provided,  however,  that:
(i)  in no event shall the total number of shares  authorized for issuance under this
Plan exceed 10% of authorized  and  outstanding  SNC Common Stock as of the  time of any
replenishment  adjustment  and (ii) for calendar year 1995,  the first day of the
calendar year shall be deemed to be May 23, 1995 (the date of  SNC's  1995  annual
shareholders'  meeting).  The  issuance  of shares of SNC  Common  Stock  under  this
Plan and the  application  of Article XI shall be  disregarded for purposes of applying
the preceding sentence.</font></P>



<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-8-</font></P><br>

<br>
<hr size=5 noshade color=maroon>
<br>


<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">5.04.  <U>Incentive
Stock Options.</U> Sections&nbsp;5.02  and 5.03 to the contrary  notwithstanding,  the
maximum  aggregate number of shares of SNC Common Stock  that may be issued  pursuant to
the exercise of Options that are incentive  stock options  granted under this Plan is six
million,  subject to adjustment as  provided in Article XI.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">5.05.  <U>Forfeitures,
etc.</U> If an Option or SAR is terminated,  in whole or in part, for any reason other
than its exercise,  the number of shares of SNC  Common Stock allocated to the Option or
SAR or portion thereof may be reallocated to other Options, SARs, Restricted Stock
awards,  Performance Share awards  and Performance  Unit awards to be granted under this
Plan. Any shares of Restricted  Stock that are forfeited may be reallocated to other
Options,  SARs or  Restricted Stock awards to be granted under this Plan.</font></P>

   <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE VI</b></font></P>

  <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>OPTION PRICE</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
price per share for SNC Common Stock  purchased on the exercise of an Option shall be
determined by the Committee on the date of grant;  provided,  however,  that the price
per share for SNC Common  Stock  purchased  on the  exercise of any  non-incentive  stock
option shall not be less than  eighty-five  percent  (85%) of the Fair Market Value on
the date the Option is granted.  The price per share for SNC Common Stock  purchased on
the exercise  of any incentive stock option shall not be less than one-hundred percent
(100%) of the Fair Market Value on the date the Option is granted.</font></P>



<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-9-</font></P><br>


<br>
<hr size=5 noshade color=maroon>
<br>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE VII</b></font></P>

  <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>EXERCISE OF OPTIONS</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">7.01.  <U>Maximum
Option or SAR Period.</U> The maximum  period in which an Option or SAR may be exercised
shall be  determined by the Committee on the date  of grant  except that no Option that
is an incentive  stock option and any  Corresponding  SAR that  relates to such Option
shall be  exercisable  after the  expiration  of ten years from the date the Option or
SAR was granted.  The terms of any Option or SAR may provide that it is  exercisable  for
a period less  than such maximum period.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">7.02.  <U>Nontransferability.</U> Any
Option  or SAR  granted  under  this  Plan  shall be  nontransferable  except  by will or
by the laws of  descent  and  distribution,  or, in the  Committee&#146;s  sole
discretion,  pursuant to a  beneficiary  designation  acceptable  to the  Committee.  In
the event of any such  transfer,  the Option and any Corresponding SAR that relates to
such Option must be transferred to the same person or persons or entity or entities.
During  the lifetime of a Participant  to whom an Option or SAR is granted,  the Option
or SAR may be exercised only by the  Participant.  No right or interest of a  Participant
in any Option or SAR shall be liable for, or subject to, any lien, obligation, or
liability of such Participant.</font></P>



<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-10-</font></P><br>


<br>
<hr size=5 noshade color=maroon>
<br>


          <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE VIII</b></font></P>

 <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>METHOD OF EXERCISE</U></b></font></P>




<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">8.01.  <U>Exercise</U>.
An Option or SAR granted under this Plan shall be deemed to have been  exercised on the
Date of Exercise.  Subject to the  provisions  of  Articles VII  and XII, an Option or
SAR may be  exercised  in whole at any time or in part from time to time,  and an Option
or SAR shall vest,  at such  times and in compliance  with such  requirements  as the
Committee  shall  determine;  provided,  however,  that a  Corresponding  SAR that is
related to an  incentive  stock option may be exercised only to the extent that the
related  Option is  exercisable  and only when the Fair Market Value exceeds the option
price of the related  Option.  An Option or SAR  granted  under this Plan may be
exercised  with  respect to any number of whole  shares less than the full  number of
whole  shares for which the Option or SAR could be  exercised.  A partial  exercise of an
Option or SAR shall not affect the right to exercise the  Option or SAR from time to time
in accordance with this Plan and the applicable  Agreement with respect to remaining
shares subject to the Option or related  to the SAR. The exercise of either an Option or
Corresponding  SAR shall result in the  termination of the other to the extent of the
number of shares with  respect to which the Option or Corresponding SAR is exercised.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">8.02.  <U>Payment</U>.
Unless otherwise provided by the Agreement,  payment of the Option price shall be made in
cash or a cash equivalent  acceptable to the  Committee.  If the  Agreement  provides,
payment of all or part of the Option price may be made by  surrendering  shares of SNC
Common Stock to SNC. If SNC  Common Stock is used to pay all or part of the Option price,
the shares  surrendered  must have a Fair Market Value  (determined as of the day
preceding the  Date of Exercise) that is not less than such price or part thereof.</font></P>


<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-11-</font></P><br>


<br>
<hr size=5 noshade color=maroon>
<br>



<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">8.03.  <U>Determination
of Payment of Cash and/or SNC Common Stock Upon Exercise of SAR.</U> At the  Committee's
discretion,  the amount payable as a result  of the  exercise of an SAR may be settled in
cash,  SNC Common  Stock,  or a  combination  of cash and SNC Common  Stock.  A
fractional  share shall not be  deliverable upon the exercise of an SAR but a cash
payment will be made in lieu thereof.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">8.04.  <U>Shareholder
Rights.</U> No Participant  shall have any rights as a stockholder with respect to shares
subject to an Option or SAR until the Date of  Exercise of such Option or SAR.</font></P>




    <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE IX</b></font></P>

 <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>RESTRICTED STOCK</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">9.01.  <U>Award</U>.  In
accordance with the provisions of Article IV,  the Committee will designate each
individual to whom an award of Restricted  Stock is  to be made and will specify the
number of shares of SNC Common Stock covered by the award.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">9.02.  <U>Vesting</U>.
The Committee,  on the date of the award,  may prescribe that a Participant's  rights in
the Restricted  Stock shall be forfeitable or  otherwise  restricted  for a  period  of
time  set  forth  in the  Agreement.  By way of  example  and not of  limitation,  the
restrictions  may  postpone  transferability  of the shares or may provide that the
shares will be forfeited if the  Participant  separates from the service of SNC and its
Subsidiaries  before the expiration of a stated term or if SNC, SNC and its Subsidiaries
or the Participant fail to achieve stated objectives.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">9.03.  <U>Shareholder
Rights</U>.  Prior to their  forfeiture in accordance  with the terms of the Agreement  and
while the shares are  Restricted  Stock,  a  Participant will have all rights of a
shareholder with respect to Restricted Stock, including the right to receive dividends
and vote the shares;  provided,  however, that (i) a Participant may not sell, transfer,
pledge, exchange,  hypothecate,  or otherwise dispose of Restricted Stock except by will
or the laws  of descent and  distribution  or, in the Committee&#146;s  sole discretion,
pursuant to a beneficiary  designation  acceptable to the Committee,  (ii) SNC shall
retain custody of the certificates  evidencing shares of Restricted  Stock, and (iii) the
Participant will deliver to SNC a stock power,  endorsed in blank,  with  respect  to
each award of  Restricted  Stock.  The  limitations  set forth in the  preceding
sentence  shall not apply  after the shares  cease to be  Restricted Stock.</font></P>




<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-12-</font></P><br>


<br>
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<br>


         <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE X</b></font></P>

  <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>PERFORMANCE SHARE AWARDS</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">10.01.  <U>Award.</U> In
accordance with the provisions of Article IV, the Committee will designate  individuals
to whom an award of Performance  Shares is to  be granted  and will  specify  the number
of shares of SNC  Common  Stock  covered  by the  award.  The  number of shares of SNC
Common  Stock  covered by a  Performance  Share award is merely a target;  the number of
shares of SNC Common Stock earned and issued under a Performance Share award may be more
or less  than the target based on the Applicable Percentage.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">10.02.  <U>Earning
the Award.</U> A Performance  Share award will be earned based on the  Performance  Share
Value during each of the five  Valuation  Periods  following  the date of award.  The
number of shares of SNC Common Stock earned under a Performance  Share award as of the
end of a Valuation  Period will be  equal to the product of (i) the number of shares
covered by the Performance Share award and (ii) the Applicable  Percentage;  provided,
however,  that such  product  shall be reduced by the number of shares of SNC Common
Stock earned or, in the case of a cash  payment,  the number of shares  represented  by
the  payment, in a prior Valuation Period with respect to the same Performance Share
Award.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">10.03.  <U>Employment.</U> Section
10.02 to the  contrary  notwithstanding,  a  Participant's  right to earn  additional
shares of SNC Common  Stock or cash  payments under  Performance  Share awards shall
terminate if the  Participant's  employment with SNC and its Subsidiaries ends for
reasons other than death,  Legal Disability or Retirement.  The preceding  sentence shall
not affect a Participant's  right to receive shares of SNC Common Stock or cash payments
that  were  earned in a  Valuation  Period  that ended  before the  Participant's
termination  of  employment.  If a  Participant's  employment  with SNC and its
Subsidiaries ends on account of death, Legal Disability or Retirement,  the Participant
(or the Participant's  estate or designated  beneficiary in the case  of his death) shall
be entitled to receive shares of SNC Common Stock or cash payment to the extent that
Performance  Shares are earned in Valuation Periods  preceding the Participant's
termination of employment and the next following Valuation Period.</font></P>



<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-13-</font></P><br>


<br>
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<br>


<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">10.04.  <U>Issuance
of Shares.</U> To the extent that a  Performance  Share award is settled with SNC Common
Stock,  the shares of SNC Common Stock earned in  accordance with Section&nbsp;10.02
shall be issued to the Participant as soon as practicable after the end of the Valuation
Period;  provided,  however,  that no  shares shall be issued unless the Committee
certifies the number of shares of SNC Common Stock earned by the Participant  during that
Valuation  Period.  A  fractional share shall not be issuable under this Article X but
instead will be settled in cash.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">10.05.  <U>Settlement
in Cash.</U> To the extent  that a  Performance  Share award is settled in cash,  the
payment  will be made in a single sum as soon as  practicable after the end of the
Valuation Period; provided,  however, that no payment shall be made unless the Committee
certifies the amount earned by the  Participant  during that Valuation  Period.  To the
extent that a Performance Share award is settled in cash, the amount of cash payable
under a award shall  equal the Fair  Market  Value  number of shares of SNC Common  Stock
earned  during  the  Valuation  Period on the date that the  Committee  certifies  the
Participant's right to receive the payment.</font></P>


<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-14-</font></P><br>


<br>
<hr size=5 noshade color=maroon>
<br>


<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">10.06.  <U>Shareholder
Rights.</U> No Participant shall, as a result of receiving an award of Performance
Shares,  have any rights as a shareholder until and  to the extent that the award of
Performance  Shares is earned and SNC Common Stock is issued to the  Participant.  A
Participant  may not sell,  transfer,  pledge, exchange,  hypothecate,  or otherwise
dispose of a Performance Share award or the right to receive payment thereunder other
than by will or the laws  of descent and distribution, or in the Committee&#146;s sole
discretion, pursuant to a beneficiary designation acceptable to the Committee.</font></P>

        <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE X(A)</b></font></P>

  <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>PERFORMANCE UNIT AWARDS</U></b></font></P>




<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">10(A).01.  <U>Award.</U> In
accordance  with the provisions of Article IV, the Committee will designate  individuals
to whom an award of Performance  Units is to  be granted.  At the date of grant,  the
Committee  shall establish for each  Performance  Unit award:  (i) the Performance
Measure and (ii) the Performance  Target to be paid to the Participant if the Performance
Measure is met during the applicable  Valuation Periods.  The number of Performance Units
granted to  the Participant will equal the Performance Target of the Participant divided
by the Fair Market Value of a share of SNC Common Stock on the date of grant.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">10(A).02.  <U>Earning
the Award.</U> A Performance  Unit award will be earned based on the value of each
Performance  Unit at the end of that number of Valuation  Periods  following the date of
award as determined to be applicable by the Committee,  which number shall not be less
than three. As soon as practical after  the  expiration  of the  Valuation  Period as the
audited  financial  statements of the  Corporation  for the  preceding  calendar year are
available to the  Committee,  the Committee will  determine the value for each
Performance  Unit. The value of a Performance  Unit will equal the Payout Ratio times the
Fair  Market Value of the SNC Common Stock on the date of grant of the Performance Unit
(or such other nominal value as may be set by the Committee).</font></P>




<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-15-</font></P><br>


<br>
<hr size=5 noshade color=maroon>
<br>


<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">10(A).03.  <U>Employment.</U> Section
10(A).02 to the contrary  notwithstanding,  a Participant's right to earn shares of SNC
Common Stock or cash payments under  Performance Unit awards shall terminate if the
Participant's  employment with SNC and its Subsidiaries  ends for reasons other than
death,  Legal Disability  or Retirement.  The preceding  sentence shall not affect a
Participant's  right to receive shares of SNC Common Stock or cash payments that were
earned in a  Valuation  Period that ended before the  Participant's  termination of
employment.  If a  Participant's  employment  with SNC and its  Subsidiaries  ends on
account of death, Legal Disability or Retirement,  the Participant (or the Participant's
estate or designated  beneficiary in the case of his death), shall,  in the Committee&#146;s
discretion,  be entitled to receive shares of SNC Common Stock or cash payment on a
prorated basis to the extent that Performance  Units  are earned in Valuation  Periods
preceding the  Participant's  termination  of employment  and the next  following
Valuation  Period.  In such event;  the  percentage  of  Performance  Units to be paid
shall  equal (i) the number of full  calendar  months  between  the date of grant of the
award and the date of  termination of employment, divided by (ii) the total number of
months in the Valuation Period.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">10(A).04  <U>Issuance
of Shares.</U> To the extent that a  Performance  Unit award is settled  with SNC Common
Stock,  the shares of SNC Common  Stock having a  value equal to the Performance Units
earned in accordance with  Section&nbsp;10(A).02  shall be issued to the Participant as
soon as practicable after the end of  the Valuation Period;  provided,  however,  that no
shares shall be issued unless the Committee certifies the number of shares of SNC Common
Stock earned by  the Participant during that Valuation Period.  A fractional share shall
not be issuable under this Article X(A) but instead will be settled in cash.</font></P>



<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-16-</font></P><br>


<br>
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<br>


<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">10(A).05  <U>Settlement
in Cash.</U> To the extent  that a  Performance  Unit award is settled  in cash,  the
payment  will be made in a single sum as soon as  practicable after the end of the
Valuation Period; provided,  however, that no payment shall be made unless the Committee
certifies the amount earned by the  Participant  during that Valuation  Period.  To the
extent that a Performance  Unit award is settled in cash, the amount of cash payable
under a Performance  Unit award shall equal the value of the  Performance  Units earned
during the Valuation  Period.  The Committee  shall certify the  Participant's  right to
receive the payment.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">10(A).06  <U>Shareholder
Rights.</U> No Participant  shall, as a result of receiving an award of Performance
Units, have any rights as a shareholder until and  to the extent that the award of
Performance  Units is earned and SNC Common  Stock is issued to the  Participant.  A
Participant  may not sell,  transfer,  pledge,  exchange,  hypothecate,  or otherwise
dispose of a Performance Unit award or the right to receive payment thereunder other than
by will or the laws  of descent and distribution, or, in the Committee&#146;s sole
discretion, pursuant to a beneficiary designation acceptable to the Committee.</font></P>

                  <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE XI</b></font></P>

  <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>ADJUSTMENT UPON CHANGE IN SNC COMMON STOCK</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
maximum  number of shares that may be issued  pursuant to the  exercise of Options and
SARs and the award of  Restricted  Stock and the  settlement of Performance Shares and
Performance Units under this Plan and the Replenishment  Percentage in Section 5.03 shall
be proportionately  adjusted,  and the terms of  outstanding  Restricted  Stock awards,
Performance  Share awards,  Performance  Unit awards,  Options and SARs shall be
adjusted,  as the  Committee shall  determine to be equitably  required in the event that
(a) SNC (i) effects one or more stock  dividends,  stock  split-ups,  subdivisions or
consolidations  of shares or (ii) engages in a transaction to which Code  section 424
applies or (b) there occurs any other event which, in the judgment of  the Committee
necessitates such action.  Any determination made under this Article XI by the Committee
shall be final and conclusive.</font></P>



<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-17-</font></P><br>


<br>
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<br>


<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
issuance by SNC of shares of stock of any class, or securities  convertible into shares
of stock of any class, for cash or property, or  for labor or  services,  either  upon
direct  sale or upon the  exercise of rights or warrants  to  subscribe  therefor,  or
upon  conversion  of shares or  obligations of SNC convertible into such shares or other
securities,  shall not affect,  and no adjustment by reason thereof shall be made with
respect to,  outstanding awards of Restricted Stock, Performance Shares, Performance
Units, Options or SARs.</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Committee may make awards of Restricted Stock,  Performance Shares and Performance Units
and may grant Options and SARs in substitution  for stock awards,  stock  options,  stock
appreciation  rights,  or similar  awards held by an individual who becomes an employee
of SNC or a Subsidiary in  connection with a transaction  described in the first
paragraph of this Article XI.  Notwithstanding any provision of the Plan (other than the
limitation of  Article V),  the terms of such  substituted  Restricted  Stock,
Performance  Share and  Performance  Unit  awards and Option or SAR grants  shall be as
the  Committee, in its discretion, determines is appropriate.</font></P>


<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-18-</font></P><br>


<br>
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<br>


  <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE XII</b></font></P>

 <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>COMPLIANCE WITH LAW AND APPROVAL OF REGULATORY BODIES</U></b></font></P>




<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
Option or SAR shall be  exercisable,  no SNC Common  Stock  shall be issued,  no
certificates  for shares of SNC Common  Stock shall be  delivered, and no payment shall
be made under this Plan except in compliance with all applicable federal and state laws
and regulations (including,  without  limitation,  withholding tax  requirements)  and
the rules of all domestic stock exchanges on which SNC's shares may be listed.  SNC shall
have the right to  rely on an opinion of its counsel as to such  compliance.  Any share
certificate  issued to evidence SNC Common Stock for which shares of Restricted  Stock
are awarded,  Performance  Shares or  Performance  Units were earned or for which an
Option or SAR is exercised may bear such legends and  statements as the  Committee may
deem advisable to assure  compliance with federal and state laws and regulations.  No
Option or SAR shall be exercisable,  no SNC Common Stock  shall be issued, no certificate
for shares shall be delivered,  and no payment shall be made under this Plan until SNC
has obtained such consent or approval  as the Committee may deem advisable from
regulatory bodies having jurisdiction over such matters.</font></P>

     <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE XIII</b></font></P>

  <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>GENERAL PROVISIONS</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">13.01.  <U>Effect
on Employment.</U> Neither the adoption of this Plan,  its  operation,  nor any documents
describing or referring to this Plan (or any part  thereof)  shall confer upon any
employee  any right to continue in the employ of SNC or a  Subsidiary  or in any way
affect any right and power of SNC or a  Subsidiary to terminate the employment of any
employee at any time with or without assigning a reason therefor.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">13.02.  <U>Unfunded
Plan.</U> The Plan, insofar as it provides for grants,  shall be unfunded,  and SNC shall
not be required to segregate any assets that may  at any time be  represented  by grants
under this Plan.  Any  liability of SNC to any person with respect to any grant under
this Plan shall be based solely  upon any  contractual  obligations  that may be created
pursuant to this Plan. No such obligation of SNC shall be deemed to be secured by any
pledge of, or  other encumbrance on, any property of SNC.</font></P>




<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-19-</font></P><br>


<br>
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<br>


<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">13.03.  <U>Rules
of Construction.</U> Headings are given to the  articles  and sections of this Plan
solely as a  convenience  to  facilitate  reference.  The  reference to any statute,
regulation, or other provision of law shall be construed to refer to any amendment to or
successor of such provision of law.</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush Justify" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">13.04.  <U>Employee
Status.</U> For purposes of determining the applicability of Code section 422 (relating
to incentive stock options),  or in the event that  the terms of any Option or SAR
provide that it may be exercised or that awards of  Restricted  Stock,  Performance
Shares or  Performance  Units may become  vested or earned only during  employment  or
within a specified  period of time after  termination  of  employment,  the Committee may
decide to what extent  leaves of absence for governmental or military service,  illness,
temporary  disability,  or other reasons shall not be deemed  interruptions of continuous
employment.</font></P>

 <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE XIV</b></font></P>

  <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>AMENDMENT</U></b></font></P>




<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board may amend or terminate this Plan from time to time; provided,  however,  that no
amendment may become effective until shareholder  approval is  obtained if (i) the
amendment  increases  the  aggregate  number of shares of SNC Common  Stock that may be
issued  under the Plan or (ii) the  amendment  changes the class of individuals  eligible
to become  Participants.  No amendment shall,  without a Participant's  consent,
adversely affect any  rights of such Participant  under any outstanding  Restricted
Stock,  Performance Share or Performance Unit award or under any Option or SAR
outstanding at  the time such amendment is made.</font></P>



<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-20-</font></P><br>


<br>
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<br>


    <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE XV</b></font></P>

 <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>DURATION OF PLAN</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
awards of  Restricted  Stock,  Performance  Shares and  Performance  Units and no grants
of Options and SARs may be made under this Plan  after April 9, 2005.  Restricted  Stock,
Performance  Share and Performance Unit awards and Options and SARs granted before that
date shall remain valid in  accordance with their terms.</font></P>

       <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>ARTICLE XVI</b></font></P>

  <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b><U>EFFECTIVE DATE OF PLAN</U></b></font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Awards
of Restricted Stock,  Performance  Shares and Performance Units may be made and Options
and SARs may be granted under this Plan upon  its adoption by the Board, provided that no
Restricted Stock,  Performance Share or Performance Unit award, Option or SAR will be
effective unless this Plan  is approved by shareholders  holding a majority of SNC's
outstanding voting stock, voting either in person or by proxy at a duly held
shareholders'  meeting  within twelve months of such adoption.</font></P>


<br><a href="#index">Back to Index</a><br>



<br><P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3">-21-</font></P><br>


<br>
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<br>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>1997 DECLARATION OF AMENDMENT TO<br>
       BB&amp;T CORPORATION<br>
 OMNIBUS STOCK INCENTIVE PLAN</b></font></P>


<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS
DECLARATION OF AMENDMENT,  made the 28<sup>th</sup> day of  October,  1997, by BB&amp;T CORPORATION
(the &quot;Company&quot;),  as sponsor of the BB&amp;T Corporation Omnibus Stock Incentive
Plan (the &quot;Plan&quot;).</font></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>R</U>&nbsp;<U>E</U>&nbsp;<U>C</U>&nbsp;<U>I</U>&nbsp;<U>T</U>&nbsp;<U>A</U>&nbsp;<U>L</U>&nbsp;<U>S</U>:</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
is deemed  advisable  for the Company to amend the Plan to allow a Participant  to
designate a beneficiary  to exercise any Options or  SARs granted to him under the Plan
upon his death and to make certain other changes deemed necessary or desirable.</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW,
THEREFORE,  it is declared,  that effective as of the date hereof,  the Plan shall be and
hereby is amended by adding the following  new material to the end of Section 7.02 of the
Plan:</font></P>

<!-- MARKER FORMAT-SHEET="Para Flush In 2" -->
<TABLE WIDTH="80%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="10%">&nbsp;</TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&quot;Notwithstanding
the foregoing,  on a beneficiary  designation form provided by the Committee,  a
Participant may  designate  a  beneficiary  to  exercise  any  Option or SAR  granted  to
him under the Plan upon his  death.  The  designation of a beneficiary in accordance with
this Section 7.02 shall not constitute a transfer.&quot;</font></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, this Amendment has been executed by the Company as of the day and year
first above written.</font></P>

<TABLE align=center CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="700">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="45%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="55%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>BB&amp;T CORPORATION</b></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">By:<U>&nbsp;&nbsp;&nbsp;/s/ Robert E. Greene&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Executive Vice President</FONT></TD></TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Attest:</font></P><BR>



<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><u>&nbsp;&nbsp;&nbsp;/s/ Jerone C. Herring&nbsp;&nbsp;&nbsp;</u><br>
&nbsp;&nbsp;&nbsp;&nbsp;Secretary</font></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">[Corporate Seal]</font></P>



<br>
<hr size=5 noshade color=maroon>
<br>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>1997 DECLARATION OF AMENDMENT TO<br>
       BB&amp;T CORPORATION<br>
  INCENTIVE STOCK OPTION PLAN</b></font></P>


<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS
DECLARATION OF AMENDMENT,  made the 28<sup>th</sup> day of  October,  1997, by BB&amp;T
CORPORATION (the &quot;Company&quot;),  as sponsor of the BB&amp;T Corporation Incentive
Stock Option Plan (the &quot;Plan&quot;).</font></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>R</U>&nbsp;<U>E</U>&nbsp;<U>C</U>&nbsp;<U>I</U>&nbsp;<U>T</U>&nbsp;<U>A</U>&nbsp;<U>L</U>&nbsp;<U>S</U>:</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
is deemed  advisable  for the Company to amend the Plan to allow a  Participant  to
designate a  Beneficiary  to exercise any Options  granted to him under the Plan upon his
death and to make certain other changes deemed necessary or desirable.</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW,
THEREFORE, it is declared, that the Plan shall be and hereby is amended, as follows:</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Effective as of the date hereof, delete paragraph 2a of the Plan and substitute therefor
the following:</font></P>

<!-- MARKER FORMAT-SHEET="Para In 2" -->
<TABLE WIDTH="80%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="15%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&quot;a.
Beneficiary.  Any person  (including a trust) who may,  pursuant to a  beneficiary
designation  form  filed  with the  Committee  or under an  employee's  will or under
the laws of  descent  and  distribution,  succeed  to the  employee's right to exercise
any Option by reason of the employee's death.&quot;</font></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Effective as of the date hereof, insert the following new material to the end of
paragraph 12 of the Plan:</font></P>

<!-- MARKER FORMAT-SHEET="Para In 2" -->
<TABLE WIDTH="80%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="15%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&quot;Notwithstanding
the foregoing,  on a beneficiary  designation form provided by the Committee,  a
Participant may  designate a  Beneficiary  to exercise any Option  granted to him under
the Plan upon his death.  The  designation  of a Beneficiary in accordance with this
paragraph 12 shall not constitute a transfer.&quot;</font></P></TD>
</TR>
</TABLE>
<BR>



<br>
<hr size=5 noshade color=maroon>
<br>


<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, this Amendment has been executed by the Company as of the day and year
first above written.</font></P>

<TABLE align=center CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="700">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="45%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="55%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>BB&amp;T CORPORATION</b></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">By:<U>&nbsp;&nbsp;&nbsp;/s/ Robert E. Greene&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior Executive Vice President</FONT></TD></TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">Attest:</font></P><BR>



<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><u>&nbsp;&nbsp;&nbsp;/s/ Jerone C. Herring&nbsp;&nbsp;&nbsp;</u><br>
&nbsp;&nbsp;&nbsp;&nbsp;Secretary</font></P>


<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">[Corporate Seal]</font></P>



<br>
<hr size=5 noshade color=maroon>
<br>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="4"><b>1999 DECLARATION OF AMENDMENT TO<br>
         BB&amp;T CORPORATION<br>
 1995 OMNIBUS STOCK INCENTIVE PLAN</b></font></P>


<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS
DECLARATION  OF AMENDMENT  is made this 27<sup>th</sup> day of  April,  1999,  by BB&amp;T CORPORATION
(the  &quot;Corporation&quot;)  to the BB&amp;T Corporation 1995 Omnibus Stock Incentive Plan
(the &quot;Plan&quot;).</font></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>R</U>&nbsp;<U>E</U>&nbsp;<U>C</U>&nbsp;<U>I</U>&nbsp;<U>T</U>&nbsp;<U>A</U>&nbsp;<U>L</U>&nbsp;<U>S</U>:</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
is deemed  advisable to amend the Plan in order to permit the transfer of  nonqualified
stock  options  granted under the Plan to the  extent deemed  advisable by the  committee
authorized to  administer  the Plan (the  &quot;Committee&quot;)  and in a manner
otherwise  consistent  with certain  federal  securities laws, and to make certain
related revisions to the Plan.</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW,
THEREFORE,  IT IS DECLARED that,  effective as of April 27, 1999, the Plan shall
be amended by deleting Section 7.02 of the  Plan in its entirety and inserting the
following in lieu thereof:</font></P>

<!-- MARKER FORMAT-SHEET="Para In 2" -->
<TABLE WIDTH="80%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&quot;<U>Nontransferability.</U>
Incentive  stock options and SARs shall not be  transferable  except by will or the laws
of descent and  distribution.  In the event of any such transfer of an incentive  stock
option,  the Option and any  corresponding  SAR that  relates  to such  Option  must be
transferred  to the same  person or  persons or entity or  entities.  Non-incentive
stock  options shall not be transferable  other than by will or the laws of descent and
distribution,  except as may be permitted by  the Committee in its sole discretion in a
manner  consistent with the registration  provisions of the Securities Act of 1933,  as
amended.  Except as may be permitted  by the  preceding  sentence  with  respect to the
transfer of  non-incentive  stock  options,  (i) during the lifetime of a  Participant
to whom an Option or SAR is granted,  the Option or SAR may be exercised  only by the
Participant;  and (ii) no right or  interest  of a  Participant  in any  Option or SAR
shall be liable  for,  or  subject to, any lien,  obligation,  or  liability  of such
Participant.  Notwithstanding  the  foregoing,  on a  beneficiary  designation  form
provided by the Committee,  a Participant may designate a beneficiary to exercise any
Option or SAR granted  to him under the Plan upon his death.  The  designation of a
beneficiary  in accordance  with  procedures  established by the  Committee shall not
constitute a transfer.&quot;</font></P></TD>
</TR>
</TABLE>
<BR>



<br>
<hr size=5 noshade color=maroon>
<br>


<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, this Declaration of Amendment is executed on behalf of BB&amp;T
Corporation on the day and year first above written.</font></P>

<TABLE align=center CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="700">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="45%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="55%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>BB&amp;T CORPORATION</b></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">By:<U>&nbsp;&nbsp;&nbsp;/s/ Kelly S. King&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President</FONT></TD></TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">ATTEST:</font></P><BR>



<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><u>&nbsp;&nbsp;&nbsp;/s/ Jerone C. Herring&nbsp;&nbsp;&nbsp;</u><br>
&nbsp;&nbsp;&nbsp;&nbsp;Secretary</font></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">[Corporate Seal]</font></P>



<br>
<hr size=5 noshade color=maroon>
<br>


<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>2000 DECLARATION OF AMENDMENT TO<br>
        BB&amp;T CORPORATION<br>
 1995 OMNIBUS STOCK OPTION PLAN</b></font></P>


<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS
DECLARATION OF AMENDMENT is made effective as of the 1st day of January,  2000, by BB&amp;T CORPORATION
(the &quot;Corporation&quot;) to the BB&amp;T Corporation 1995 Omnibus Stock Incentive Plan,
as amended and restated (the &quot;Plan&quot;).</font></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>R</U>&nbsp;<U>E</U>&nbsp;<U>C</U>&nbsp;<U>I</U>&nbsp;<U>T</U>&nbsp;<U>A</U>&nbsp;<U>L</U>&nbsp;<U>S</U>:</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
is deemed  advisable to amend the Plan in order to increase the maximum  amount of awards
that can be received by a participant  under  the Plan and to increase the aggregate
number of shares of BB&amp;T common stock that may be issued pursuant to awards under the
Plan.</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW,
THEREFORE, IT IS DECLARED, that, effective as of the 22nd day of February, 2000, the Plan
shall be amended as follows:</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By deleting Section 4.02 of the Plan in its entirety and inserting the following in lieu
thereof:</font></P>

<!-- MARKER FORMAT-SHEET="Para In 2" -->
<TABLE WIDTH="80%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&quot;4.02.
<U>Grants.</U>  The Committee will designate  individuals to whom Restricted Stock,  Performance
Shares and Performance  Units are to be awarded and to whom  Options and SARs are to be
granted and will  specify the number of shares of BB&amp;T Common  Stock  subject to each
award or grant.  An Option may be granted  with or without a related  SAR. An SAR may be
granted  with  or without a related Option.  All Restricted  Stock,  Performance  Share
and Performance Unit awards,  and all Option and SAR  grants,  under this Plan shall be
evidenced by Agreements  which shall be subject to the  applicable  provisions of this
Plan  and to such other  provisions as the  Committee may adopt.  Incentive  stock
options may be granted only to  individuals  who  are  employees of BB&amp;T or a
Subsidiary  or are  otherwise  eligible to receive such awards under  Section 422 of the
Code, as  such provision may be hereafter  amended.  No Participant  may be granted
incentive stock options or related SARs (under all  incentive  stock option  plans of BB&amp;T
and its  Subsidiaries)  which are first  exercisable  in any  calendar  year for stock
having an aggregate Fair Market Value  (determined as of the date an option is granted)
exceeding  $100,000.  No Participant  may be granted  Options and SARs that are not
related to an Option in any calendar year for more than 500,000  shares of BB&amp;T
Common Stock.  In addition,  in any calendar  year, no  Participant  may receive  shares
of BB&amp;T Common Stock pursuant to the  grant of any awards made under the Plan for
more than a total of 500,000  shares of BB&amp;T Common  Stock.  (For purposes of the
preceding two  sentences an Option and related SAR shall be treated as a single  award.)
In addition,  in any calendar  year,  no Participant may receive awards under the Plan
payable in cash having an aggregate dollar value in excess of $2,000,000.&quot;</font></P></TD>
</TR>
</TABLE>
<BR>



<br>
<hr size=5 noshade color=maroon>
<br>


<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By deleting Section 5.02 of the Plan in its entirety and inserting the following in lieu
thereof:</font></P>

<!-- MARKER FORMAT-SHEET="Para In 2" -->
<TABLE WIDTH="80%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&quot;5.02.
<U>Maximum  Number of  Shares.</U>  The  maximum  aggregate  number of shares of BB&amp;T Common
Stock  that may be issued  pursuant to the exercise of Options and SARs and the award of
Restricted  Stock and the settlement of the Performance  Shares  and Performance  Units
under this Plan is 29 million,  subject to increases and adjustments as provided in this
Article V and  Article XI.&quot;</font></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By deleting Section 5.04 of the Plan in its entirety and inserting the following in lieu
thereof:</font></P>

<!-- MARKER FORMAT-SHEET="Para In 2" -->
<TABLE WIDTH="80%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&quot;5.04.
<U>Incentive Stock Options.</U>  Sections 5.02 and 5.03 to the contrary  notwithstanding,  the
maximum  aggregate number  of shares of BB&amp;T Common  Stock that may be issued
pursuant to the  exercise of Options  that are  incentive  stock  options  granted under
this Plan is 29,000,000, subject to adjustment as provided in Article XI.&quot;</font></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS  WHEREOF,  this  Declaration of Amendment is executed on behalf of BB&amp;T
Corporation on the day and year first above written.</font></P>

<TABLE align=center CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="700">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="45%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="55%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>BB&amp;T CORPORATION</b></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">By:<U>&nbsp;&nbsp;&nbsp;/s/ Kelly S. King&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President</FONT></TD></TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">ATTEST:</font></P><BR>



<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><u>&nbsp;&nbsp;&nbsp;/s/ Jerone C. Herring&nbsp;&nbsp;&nbsp;</u><br>
&nbsp;&nbsp;&nbsp;&nbsp;Secretary</font></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">[Corporate Seal]</font></P>



<br>
<hr size=5 noshade color=maroon>
<br>


 <P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>2003 DECLARATION OF AMENDMENT TO<br>
         BB&amp;T CORPORATION<br>
 1995 OMNIBUS STOCK INCENTIVE PLAN</b></font></P>


<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;THIS
DECLARATION OF AMENDMENT is made effective the 25th day of February,  2003, by BB&amp;T
CORPORATION  (the  &quot;Corporation&quot;)  to the BB&amp;T  Corporation 1995 Omnibus
Stock Incentive Plan, as amended (the &quot;Plan&quot;).</font></P>

<P ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><U>R</U>&nbsp;<U>E</U>&nbsp;<U>C</U>&nbsp;<U>I</U>&nbsp;<U>T</U>&nbsp;<U>A</U>&nbsp;<U>L</U>&nbsp;<U>S</U>:</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;It
is deemed  advisable  to amend the Plan in order to (1)  increase  the  aggregate  number
of shares of BB&amp;T  common  stock that may be  issued  pursuant to awards granted
under the Plan; (2) increase the maximum number of shares of BB&amp;T common stock that
may be issued  pursuant to incentive stock  options granted under the Plan; and (3)
provide that  shareholder  approval shall be required for any  cancellation,  regrant or
other  modification of an option  which would result in a repricing of the option.</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOW,
THEREFORE,  IT IS DECLARED that,  effective as of February 25, 2003,  the Plan shall be
amended as follows  (subject to shareholder  approval of the amendment of Section 5.02
and 5.04), with the remainder of the Plan being unchanged:</font></P>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By deleting Section 5.02 of the Plan in its entirety and inserting the following in lieu
thereof:</font></P>

<!-- MARKER FORMAT-SHEET="Para In 2" -->
<TABLE WIDTH="80%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&quot;5.02.
<U>Maximum Number of Shares.</U>  The maximum  aggregate  number of shares of BB&amp;T Common
Stock that may be issued pursuant  to the  exercise  of  Options  and SARs and the award
of  Restricted  Stock and the  settlement  of  Performance  Shares  and  Performance
Units under this Plan is  38,000,000,  subject to increases  and  adjustments  as
provided in this Article V and  Article XI.&quot;</font></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By deleting Section 5.04 of the Plan in its entirety and inserting the following in lieu
thereof:</font></P>

<!-- MARKER FORMAT-SHEET="Para In 2" -->
<TABLE WIDTH="80%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&quot;5.04.
<U>Incentive Stock Options.</U>  Sections 5.02 and 5.03 to the contrary  notwithstanding,  the
maximum  aggregate  number of  shares of BB&amp;T Common Stock that may be issued
pursuant to the exercise of Options that are incentive  stock options granted  under this
Plan is 38,000,000 subject to adjustment as provided in  Article XI.&quot;</font></P></TD>
</TR>
</TABLE>
<BR>

<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
By adding the  following  provision  as the third and final  sentence of Article VI, with
the  remainder  of Article VI being  unchanged:</font></P>

<!-- MARKER FORMAT-SHEET="Para In 2" -->
<TABLE WIDTH="80%" CELLPADDING="0" CELLSPACING="0">
<TR VALIGN="TOP">
     <TD WIDTH="10%"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</font></TD>
     <TD><P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&quot;<U>Option
Price.</U>  Except for  adjustments  made pursuant to Article XI, the option price for any
outstanding  Option  granted  under the Plan may not be  decreased  after the date of
grant,  nor may any  outstanding  Option  granted  under the Plan be  surrendered to the
Corporation as  consideration  for the grant of a new Option with a lower exercise price
than the original  Option, without shareholder approval.&quot;</font></P></TD>
</TR>
</TABLE>
<BR>



<br>
<hr size=5 noshade color=maroon>
<br>


<!-- MARKER FORMAT-SHEET="Para 20 indent" -->
<P ALIGN="justify"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;IN
WITNESS WHEREOF, this Declaration of Amendment is executed on behalf of BB&amp;T Corporation
as of the day and year first above written.</font></P>

<TABLE align=center CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="700">
<TR VALIGN="BOTTOM">
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH>
     <TH><FONT FACE="Times New Roman, Times, Serif" SIZE="3"></FONT></TH></TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="45%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD WIDTH="55%" ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><b>BB&amp;T CORPORATION</b></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">By:<U>&nbsp;&nbsp;&nbsp;/s/ Kelly S. King&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;</FONT></TD>
     <TD ALIGN="LEFT"><FONT FACE="Times New Roman, Times, Serif" SIZE="3">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;President</FONT></TD></TR>
</TABLE>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">ATTEST:</font></P><BR>



<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3"><u>&nbsp;&nbsp;&nbsp;/s/ Jerone C. Herring&nbsp;&nbsp;&nbsp;</u><br>
&nbsp;&nbsp;&nbsp;&nbsp;Secretary</font></P>

<P><FONT FACE="Times New Roman, Times, Serif" SIZE="3">[Corporate Seal]</font></P>



<br>
<hr size=5 noshade color=maroon>
<br>







</BODY>
</HTML>
[{"type": "S-8", "sequence": "1", "filename": "s8.htm", "description": "1995 OMNIBUS STOCK INCENTIVE PLAN", "secsgml_size_bytes": 220088}]
{"company-data": {"conformed-name": "BB&T CORP", "cik": "0000092230", "assigned-sic": "6021", "irs-number": "560939887", "state-of-incorporation": "NC", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-104934", "film-number": "03678875"}, "business-address": {"street1": "200 WEST SECOND STREET", "city": "WINSTON-SALEM", "state": "NC", "zip": "27101", "phone": "3367332000"}, "mail-address": {"street1": "200 WEST SECOND STREET", "city": "WINSTON-SALEM", "state": "NC", "zip": "27101"}, "former-company": {"former-conformed-name": "SOUTHERN NATIONAL CORP /NC/", "date-changed": "19920703"}}
BB&T 1995 OMNIBUS STOCK INCENTIVE PLAN
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
BB&T
CORPORATION
(Exact name of registrant as specified in its charter)
NORTH CAROLINA
56-0939887
(State or other jurisdiction of
(I.R.S. Employer Identification
incorporation of organization)
Number)
200 West
Second Street
Winston-Salem, North Carolina 27101
(Address of principal executive offices, including zip code)
BB&T
CORPORATION
1995 OMNIBUS STOCK INCENTIVE PLAN
(As Amended Through February 25, 2003)
(Full title of the plan)
Jerone C.
Herring, Esq.
BB&T Corporation
200 West Second Street
3rd Floor
Winston-Salem,
North Carolina 27101
(336) 733-2180
(Name, address and telephone number, including area
code,  of agent for service)
CALCULATION OF REGISTRATION FEE
Proposed
Proposed
Title of
maximum
maximum
securities
Amount
offering
aggregate
Amount of
to be
to be
price
offering
registration
registered
registered
per share (2)
price    (2)
fee          (2)
Common
Stock, par value
$5.00 per share
12,991,683 shares
$32.13 - $32.505
$421,487,089
$34,099
(1)
Each
share of the Registrant's Common Stock includes one preferred share purchase right.
(2)
Pursuant
to Rule 457(c) and (h)(1),  based on (i) the average ($32.505) of the high ($32.75)
and low ($32.26) prices of the Registrant's  Common Stock on April 25, 2003, as
reported on the New York Stock Exchange  (10,838,171 shares); and (ii) the average
option price ($32.13)  for 2,153,512 shares being  registered  herein which are
available for issuance upon the exercise of  outstanding  options  granted under the
Company's 1995 Omnibus Stock Incentive Plan.
PART II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
Item 3.
Incorporation of Documents by Reference.
The
following documents filed by BB&T Corporation (the "Company" or  "BB&T")
with the Securities and Exchange Commission (the  "Commission") under the
Securities Exchange Act of 1934, as amended  (the "Exchange Act"), are
incorporated herein by reference:
(a)     
The Company's  Annual Report on Form 10-K for the year ended December 31, 2002, as filed
with the Commission on March 7, 2003;
(b)     
The Company's  Current  Report on Form 8-K filed with the  Commission on January 13,
2003;
(c)     
The  description  of the Company's  Common  Stock,  par value $5.00 per share,  contained
in the Company's  Registration
Statement
on form 8-A filed with the Commission on September 4, 1991 with respect to such  Common
Stock, including any amendment or report filed for the purposes of  updating such
description;
(d)     
The Company's  Registration  Statement on Form 8-A relating to the  Company's
shareholder  rights plan,  filed with the Commission
on January 10, 1997; and
(e)     
All other  reports  filed  pursuant  to Section  13(a) or 15(d) of the  Exchange  Act
since the end of the  fiscal  year  referred to in (a) above; and
All
documents subsequently filed by the Company pursuant to Sections 13(a), 13(c),  14 and
15(d) of the Exchange Act, prior to the filing of a post-effective  amendment which
indicates that all securities offered hereby have been sold or  which deregisters all
securities remaining unsold, shall be deemed to be  incorporated by reference herein and
to be a part hereof from the date of the  filing of such documents.
Pursuant
to General  Instruction E to Form S-8, the contents of Registration  Statement No.
33-03989 and Registration  Statement No.  333-36540, relating to the offer and sale of
the Registrant's Common Stock under the  BB&T Corporation 1995 Omnibus Stock
Incentive Plan, as amended and restated  (formerly, the Southern National Corporation
1995 Omnibus Stock Incentive Plan),  are incorporated by reference in this Registration
Statement on Form S-8.
Item 4.
Description of Securities.
Not
applicable.
Item 5.
Interests  of Named Experts and Counsel.
The
legality of the securities offered hereby has been passed upon for the Company by Jerone C. Herring, Executive Vice President, Secretary and General Counsel of the Company.  Mr. Herring owns shares of Common Stock of the Company and holds options to purchase additional shares of Common Stock.
Item 6.
Indemnification of Directors and Officers.
Sections
55-8-50 through 55-8-58 of the North Carolina Business Corporation  Act contain specific
provisions relating to indemnification of directors and  officers of North Carolina
corporations. In general, such sections provide that:  (i) a corporation must indemnify a
director or officer who is wholly successful  in his defense of a proceeding to which he
is a party because of his status as  such, unless limited by the articles of
incorporation, and (ii) a corporation  may indemnify a director or officer if he is not
wholly successful in such  defense if it is determined as provided by statute that the
director or officer  meets a certain standard of conduct, except that when a director or
officer is  liable to the corporation or is adjudged liable on the basis that personal
benefit was improperly received by him, the corporation may not indemnify him. A
director or officer of a corporation who is a party to a proceeding may also  apply to a
court for indemnification, and the court may order indemnification  under certain
circumstances set forth in statute. A corporation may, in its  articles of incorporation
or bylaws or by contract or resolution of the board of  directors, provide
indemnification in addition to that provided by statute,  subject to certain conditions.
II - 1
The
registrant's  bylaws provide for the  indemnification  of any director or officer of the
registrant  against  liabilities  and litigation  expenses arising out of his status as
such, excluding: (i) any liabilities or  litigation expenses relating to activities that
were at the time taken known or  believed by such person to be clearly in conflict with
the best interest of the  registrant and (ii) that portion of any liabilities or
litigation expenses with  respect to which such person is entitled to receive payment
under any insurance  policy.
The
registrant's  articles of incorporation provide for the elimination of the personal
liability of each director of the registrant  to the fullest extent permitted by law.
The
registrant maintains directors' and officers' liability insurance that, in general,
insures: (i) the registrant's directors and officers  against loss by reason of any of
their wrongful acts and (ii) the registrant  against loss arising from claims against the
directors and officers by reason of  their wrongful acts, all subject to the terms and
conditions contained in the  policy.
Certain
rules of the Federal Deposit Insurance Corporation limit the ability of certain
depository institutions, their subsidiaries and their affiliated depository  institution
holding companies to indemnify affiliated parties, including  institution directors. In
general, subject to the ability to purchase  directors' and officers' liability
insurance and to advance  professional expenses under certain circumstances, the rules
prohibit such  institutions from indemnifying a director for certain costs incurred with
regard  to an administrative or enforcement action commenced by any federal banking
agency that results in a final order or settlement pursuant to which the  director is
assessed a civil money penalty, removed from office, prohibited from  participating in
the affairs of an insured depository institution or required to  cease and desist from or
take an affirmative action described in Section 8(b) of  the Federal Deposit Insurance
Act (12 U.S.C. § 1818(b)).
Item 7.
Exemption from Registration Claimed.
Not
applicable.
Item 8.
Exhibits.
The
following exhibits are filed as a part of this Registration Statement:
Number
Description
4.1
Amended
and Restated Articles of Incorporation of the Company, as amended, which are
incorporated herein by reference to Exhibit 3(a) to the Company's Annual  Report on
Form 10-K for the year ended December 31, 1996, filed with the  Commission on March 17,
1997.
4.2
Articles
of Amendment to the Articles of Incorporation of the Company, which are  incorporated
herein by reference to Exhibit 3(a)(ii) to the Company's  Annual Report on Form 10-K
for the year ended December 31, 1997, filed with the  Commission on March 18, 1998.
4.3
Articles
of Amendment dated May 1, 1998 to the Articles of Incorporation of the Company.
4.4
Articles
of Amendment dated April 30, 2001 to the Articles of Incorporation of the Company.
4.5
Bylaws
of the Company, as amended, which are incorporated herein by reference to  Exhibit 3(b)
to the Company's Annual Report on Form 10-K for the year ended  December 31, 1997,
filed with the Commission on March 18, 1998.
4.6
Rights
Agreement dated as of December 17, 1996 between the Company and Branch  Banking and Trust
Company, Rights Agent, which is incorporated herein by  reference to Exhibit A filed
under Form 8-A, filed with the Commission on  January 10, 1997.
4.7
Subordinated
Indenture (including Form of Subordinated Debt Security) between  the Company and State
Street Bank and Trust Company, Trustee, dated as of May  24, 1996, which is incorporated
herein by reference to Exhibit 4(d) to  Registration No. 333-02899.
4.8
Senior
Indenture (including Form of Senior Debt Security) between the Company  and State Street
Bank and Trust Company, Trustee, dated as of May 24, 1996,  which is incorporated herein
by reference to Exhibit 4(c) to Registration No.  333-02899.
5
Opinion
of Jerone C. Herring, Executive Vice President, Secretary and General Counsel of the Company.
II - 2
23.1
Consent
of Jerone C. Herring, Executive Vice President, Secretary and General Counsel of the Company (included in Exhibit 5).
23.2
Consent
of PricewaterhouseCoopers LLP.
23.3
Explanatory
Note regarding Arthur Andersen LLP.
24
Power
of Attorney of Directors and Officers of the Company.
99
BB&T Corporation
1995 Omnibus Stock Incentive Plan (as amended through February 25, 2003).
Item 9.
Undertakings.
(a)
The
undersigned registrant hereby undertakes:
(1)
To
file, during any period in which offers or sales are being made, a  post-effective
amendment to this Registration Statement:
(i)
To
include any prospectus required by Section 10(a)(3) of the Securities Act of 1933 (the
"Securities Act");
(ii)
To
reflect in the prospectus any facts or events arising after the effective  date of the
Registration Statement (or the most recent post-effective amendment  thereof) which,
individually or in the aggregate, represent a fundamental change  in the information set
forth in the Registration Statement;
(iii)
To
include any material information with respect to the plan of distribution not  previously
disclosed in the Registration Statement or any material change to  such information in
the Registration Statement;
provided
,
however
, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the  information
required to be included in a post-effective amendment by those  paragraphs is contained
in periodic reports filed with or furnished to the  Commission by the Company pursuant to
Section 13 or Section 15(d) of the  Exchange Act that are incorporated by reference in
the Registration Statement.
(2)
That,
for the purpose of determining any liability under the Securities Act,  each such
post-effective amendment shall be deemed to be a new registration  statement relating to
the securities offered therein, and the offering of such  securities at that time shall
be deemed to be the initial bona fide offering  thereof.
(3)
To
remove from registration by means of a post-effective amendment any of the  securities
being registered which remain unsold at the termination of the  offering.
(b)
The Company hereby undertakes that, for purposes of determining any liability
under the Securities Act, each filing of the Company's annual report
pursuant to Section 13(a) or Section 15(d) of the Exchange Act that is
incorporated by reference in the Registration Statement shall be deemed to be a
new registration statement relating to the securities offered therein, and the
offering of such securities at that time shall be deemed to be the initial bona
fide offering thereof.
(c)
Insofar as indemnification for liabilities arising under the Securities Act may
be permitted to directors, officers and controlling persons of the Company
pursuant to the foregoing provisions, or otherwise, the Company has been advised
that in the opinion of the Commission such indemnification is against public
policy as expressed in the Securities Act and is, therefore, unenforceable. In
the event that a claim for indemnification against such liabilities (other than
the payment by the Company of expenses incurred or paid by a director, officer
or controlling person of the Company in the successful defense of any action,
suit or proceeding) is asserted by such director, officer or controlling person
in connection with the securities being registered, the Company will, unless in
the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such
indemnification by it is against public policy as expressed in the Securities
Act and will be governed by the final adjudication of such issue.
II - 3
SIGNATURES
THE
REGISTRANT
Pursuant
to the requirements of the Securities Act of 1933, BB&T Corporation
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Winston-Salem, State of North Carolina, on this 30
th
day of April, 2003.
BB&T CORPORATION
By:
/s/ Jerone C. Herring
Jerone C. Herring
Executive Vice President
Pursuant
to the requirements of the Securities Act of 1933, this Registration Statement
has been signed by the following persons in the capacities indicated on
April 30, 2003.
/s/ John A. Allison IV *
/s/ Scott E. Reed *
Name:
John A. Allison IV
Name:
Scott E. Reed
Title:
Chairman of the Board and
Title:
Senior Executive Vice President
Chief Executive Officer
and Chief Financial Officer
(principal executive officer)
(principal financial officer)
/s/ Sherry A. Kellett *
/s/ Nelle Ratrie Chilton *
Name:
Sherry A. Kellett
Name:
Nelle Ratrie Chilton
Title:
Senior Executive Vice President
Title:
Director
and Controller
(principal accounting officer)
/s/ Alfred E. Cleveland *
/s/ Ronald E. Deal *
Name:
Alfred E. Cleveland
Name:
Ronald E. Deal
Title:
Director
Title:
Director
/s/ Tom D. Efird *
/s/ Paul S. Goldsmith *
Name:
Tom D. Efird
Name:
Paul S. Goldsmith
Title:
Director
Title:
Director
/s/ Jane P. Helm *
Name:
L. Vincent Hackley
Name:
Jane P. Helm
Title:
Director
Title:
Director
/s/ Richard Janeway *
/s/ J. Ernest Lathem *
Name:
Richard Janeway, M.D.
Name:
J. Ernest Lathem, M.D.
Title:
Director
Title:
Director
/s/ James H. Maynard *
/s/ Albert O. McCauley *
Name:
James H. Maynard
Name:
Albert O. McCauley
Title:
Director
Title:
Director
II - 4
/s/ J. Holmes Morrison *
/s/ Richard L. Player, Jr. *
Name:
J. Holmes Morrison
Name:
Richard L. Player, Jr.
Title:
Director
Title:
Director
/s/ Nido R. Qubein *
/s/ E. Rhone Sasser *
Name:
Nido R. Qubein
Name:
E. Rhone Sasser
Title:
Director
Title:
Director
/s/ Jack E. Shaw *
Name:
Jack E. Shaw
Title:
Director
*By:
/s/ Jerone C. Herring
Name: Jerone C. Herring
Attorney-in-Fact
II - 5
EXHIBIT INDEX
to
Registration Statement on Form S-8 of
BB&T Corporation
Exhibit No.
Description
4.1
Amended
and Restated  Articles of Incorporation of the Company,  as amended,  which are
incorporated  herein by reference to Exhibit 3(a)  to the Company's Annual Report on Form
10-K for the year ended December 31, 1996, filed with the Commission on March 17, 1997. *
4.2
Articles
of Amendment to the Articles of  Incorporation of the Company,  which are  incorporated
herein by reference to Exhibit 3(a)(ii)  to the Company's Annual Report on Form 10-K for
the year ended December 31, 1997, filed with the Commission on March 18, 1998. *
4.3
Articles
of Amendment dated May 1, 1998 to the Articles of Incorporation of the Company.
4.4
Articles
of Amendment dated April 30, 2001 to the Articles of Incorporation of the Company.
4.5
Bylaws
of the Company,  as amended,  which are  incorporated  herein by reference to Exhibit
3(b) to the Company's  Annual Report on Form  10-K for the year ended December 31, 1997,
filed with the Commission on March 18, 1998. *
4.6
Rights
Agreement  dated as of December  17,  1996  between the Company and Branch  Banking and
Trust  Company,  Rights  Agent,  which is  incorporated herein by reference to Exhibit A
filed under Form 8-A, filed with the Commission on January 10, 1997. *
4.7
Subordinated
Indenture  (including  Form of  Subordinated  Debt  Security)  between the Company and
State Street Bank and Trust Company,  Trustee, dated as of May 24, 1996, which is
incorporated herein by reference to Exhibit 4(d) to Registration No. 333-02899.
4.8
Senior
Indenture  (including Form of Senior Debt Security)  between the Company and State Street
Bank and Trust Company,  Trustee,  dated  as of May 24, 1996, which is incorporated
herein by reference to Exhibit 4(c) to Registration No. 333-02899.
5
Opinion
of Jerone C. Herring, Executive Vice President, Secretary and General Counsel of the Company.
23.1
Consent
of Jerone C. Herring, Executive Vice President, Secretary and General Counsel of the Company (included in Exhibit 5).
23.2
Consent
of PricewaterhouseCoopers LLP.
23.3
Explanatory
Note regarding Arthur Andersen LLP.
24
Power
of Attorney of Directors and Officers of the Company.
99
BB&T
Corporation 1995 Omnibus Stock Incentive Plan (as amended through February 25, 2003).
* Incorporated by reference.
EXHIBIT 4.3
EXHIBIT 4.3
ARTICLES OF AMENDMENT OF
BB&T CORPORATION
The
undersigned corporation hereby submits these Articles of Amendment for the purpose of
amending its Article of Incorporation:
1.
The
name of the corporation is BB&T Corporation.
2.
The
following amendment to the Articles of Incorporation of the corporation was adopted by
its shareholders on the 28
the
day of April, 1998, in the manner prescribed by
law:
Delete
the first sentence of Article IV and substitute therefore the following:
"The
Corporation shall have authority to issue 500,000,000 shares of Common Stock, par value
$5 each, and 5,000,000 shares of Preferred Stock, par value $5 each."
3.
The above amendment is effective upon filing.
This the
1
st
day of May, 1998.
BB&T CORPORATION
By:
/s/ Jerone C. Herring
Jerone C. Herring, Secretary
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EXHIBIT 4.4
EXHIBIT 4.4
ARTICLES OF AMENDMENT OF
BB&T CORPORATION
The
undersigned corporation hereby submits these Articles of Amendment for the purpose of
amending its Articles of Incorporation:
1.
The  following amendment to
the Articles of Incorporation of the corporation was adopted by  its shareholders on the
24
th
day of April, 2001, in the manner prescribed by  law:
Delete
the first sentence of Article IV and substitute therefore the following:
"The
Corporation shall have authority to issue 1,000,000,000 shares of Common Stock, par value
$5 each, and 5,000,000 shares of Preferred Stock, par value $5 each."
2.
The
above amendment is effective upon filing.
This the
30
th
day of April, 2001.
BB&T CORPORATION
By:
/s/ Jerone C. Herring
Jerone C. Herring, Secretary
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EXHIBIT 5
EXHIBIT 5
[BB&T
Letterhead]
May
1, 2003
BB&T
Corporation
200 West Second Street
Winston-Salem, North Carolina 27101
Re:     
Registration Statement on Form S-8 with respect to the BB&T Corporation 1995 Omnibus
Stock Incentive Plan, as amended
Ladies and Gentlemen:
I
am the Executive Vice President, Secretary and General Counsel of BB&T
Corporation (the "Company"), and I am familiar with the proceedings
taken by the Company in connection with its registration under the Securities
Act of 1933, as amended, of an aggregate of 12,991,683 shares of its common
stock, $5.00 par value (the "Shares"), which are proposed to be
offered and sold pursuant to the BB&T Corporation 1995 Omnibus Stock
Incentive Plan, as amended and restated through February 25, 2003 (the
"Plan"). The Company is filing a Registration Statement on Form S-8
(the "Registration Statement") with the Securities and Exchange
Commission (the "Commission") with respect to the Shares. This opinion
is provided pursuant to the requirements of Item 8(a) of Form S-8 and Item
601(b)(5) of Regulation S-K.
I
have reviewed the Company's articles of incorporation and bylaws, each as
amended to date, and have examined the originals, or copies certified or
otherwise identified to my satisfaction, of corporate records of the Company,
including minute books of the Company, certificates of public officials and of
representatives of the Company, statutes and other instruments and documents, as
a basis for the opinions hereinafter expressed. In rendering this opinion, I
have relied upon certificates of public officials and officers of the Company
with respect to the accuracy of the factual matters contained in such
certificates. I also have reviewed the Plan and the Registration Statement.
In
connection with such review, I have assumed (1) the genuineness of all
signatures and the legal competence of all signatories; (2) the authenticity of
all documents submitted as originals and the conformity to original documents of
all documents submitted as certified or photostatic copies; and (3) the proper
issuance and accuracy of certificates of public officials and officers and
agents of the Company. In rendering opinions as to future events, I have assumed
the facts and law existing on the date hereof.
Based
upon and subject to the foregoing and the qualifications and limitations set
forth below, and having regard for such legal considerations as I have deemed
relevant, I am of the opinion that the Shares have been duly authorized and,
when issued and paid for in accordance with the terms of the Plan, will be
validly issued, fully paid and nonassessable.
This
opinion is delivered solely for the Company's benefit in connection with
the Registration Statement and the transactions provided for therein and may not
be relied upon by any other person or for any other purpose without my prior
written consent.
This
opinion is limited to the laws of the State of North Carolina, and I am
expressing no opinion as to the effect of the laws of any other jurisdiction.
I
hereby consent to being named in the Registration Statement as an attorney who
passed upon the validity of the Shares and to the filing of a copy of this
opinion as Exhibit 5 to the Registration Statement. In giving this consent, I do
not admit that I am within the category of persons whose consent is required by
Section 7 of the Securities Act, or other rules and regulations of the
Commission thereunder.
Very truly yours,
/s/ Jerone C. Herring
Jerone C. Herring
Executive Vice President, Secretary
and General Counsel
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EXHIBIT 23.2
EXHIBIT 23.2
CONSENT OF INDEPENDENT ACCOUNTANTS
We hereby consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated January 28, 2003 relating to the financial statements of BB&T Corporation, which appears in BB&T Corporation's Annual Report on Form 10-K for the year ended December 31, 2002.
/s/  PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
Greensboro, North Carolina
April 30, 2003
Back to Index
EXHIBIT 23.3
EXHIBIT 23.3
EXPLANATORY NOTE REGARDING ARTHUR ANDERSEN LLP
The
consolidated  financial  statements  of BB&T  Corporation  and its  subsidiaries  as
of and for the year  ended  December  31,  2002  which  are  incorporated  by reference
into this  registration  statement from BB&T's annual report on Form 10-K for the
year ended December 31, 2002 and filed with the SEC  on March 7, 2003 have been so
incorporated  in reliance on the report of  PricewaterhouseCoopers  LLP,  independent
accountants,  given on the authority of said  firm as experts in auditing and accounting.
The
consolidated  financial  statements as of December 31, 2001 and for each of the two years
in the period ended December 31, 2001,  incorporated by  reference in this  registration
statement,  have been audited by Arthur  Andersen  LLP,  independent  certified  public
accountants,  as stated in their report  incorporated by reference herein.
On
March 20, 2002, BB&T announced that it had appointed  PricewaterhouseCoopers  LLP to
replace Arthur  Andersen LLP as its independent  accountants.  After reasonable  efforts,
we have been unable to obtain Arthur  Andersen's  updated written consent to the
incorporation  by reference into this  registration  statement of Arthur  Andersen's
audit reports with respect to our financial  statements.  Under these  circumstances,
Rule 437a under the Securities Act permits  us to omit Arthur Andersen's updated written
consent from this registration statement.
Section
11(a) of the  Securities  Act provides  that if any part of a  registration  statement at
the time it becomes  effective  contains an untrue  statement of a material fact or an
omission to state a material fact required to be stated  therein or necessary to make the
statements  therein not  misleading,  any person  acquiring a security  pursuant to such
registration  statement  (unless it is proved that at the time of such  acquisition  such
person knew of such  untruth or omission)  may sue,  among  others,  every  accountant
who has  consented to be named as having  prepared or certified  any part of the
registration  statement or as having prepared or certified any report or valuation which
is used in connection  with the  registration  statement with respect to the statement
in such registration statement, report or valuation which purports to have been prepared
or certified by the accountant.
Accordingly,
Arthur  Andersen may not be liable under Section 11(a) of the  Securities  Act because it
has not consented to being named as an expert  in the  registration  statement.  BB&T
believes,  however,  that other persons who may be liable under Section 11(a) of the
Securities  Act,  including  BB&T's  officers and directors,  may still rely on
Arthur  Andersen's audit reports as being made by an expert under the due diligence
defense provision of Section 11(b)  of the Securities Act.
Back to Index
EXHIBIT 24
EXHIBIT 24
POWER OF ATTORNEY
Each
of the undersigned,  being a director and/or officer of BB&T Corporation  (the
"Company"),  hereby  constitutes and appoints John A. Allison and  Jerone C.
Herring,  and each of them, the true and lawful  attorneys-in-fact  and agents of the
undersigned,  with full power of substitution and resubstitution,  for and in the name,
place and stead of the undersigned,  in any and all  capabilities,  to sign any and all
amendments  (including  post-effective  amendments,  exhibits thereto and other documents
in connection  therewith) to this Registration  Statement on Form S-8 filed by the
Registrant pursuant to the Securities Act  of 1933, as amended,  relating to the offer
and sale of shares of the  Company's  common stock,  $5.00 par value,  pursuant to the
terms of the BB&T  Corporation  1995 Omnibus Stock Incentive Plan, as amended and
restated,  and to file the same, with all exhibits thereto and all documents in
connection therewith,  with the  Securities and Exchange  Commission,  and hereby grants
to such  attorneys-in-fact  and agents, and each of them, full power and authority to do
and perform each  and every act and thing  requisite  and  necessary  to be done,  as
fully to all intents  and  purposes as the  undersigned  might or could do in person,
hereby  ratifying and confirming all that said  attorneys-in-fact  and agents, or any of
them, or their or his substitute,  may lawfully do or cause to be done by virtue  hereof.
This
Power of Attorney has been signed by the following persons in the capacities indicated on
April 22, 2003.
/s/ John A. Allison IV
/s/ Scott E. Reed
Name:
John A. Allison IV
Name:
Scott E. Reed
Title:
Chairman of the Board and
Title:
Senior Executive Vice President
Chief Executive Officer
and Chief Financial Officer
(principal executive officer)
(principal financial officer)
/s/ Sherry A. Kellett
/s/ Nelle Ratrie Chilton
Name:
Sherry A. Kellett
Name:
Nelle Ratrie Chilton
Title:
Senior Executive Vice President
Title:
Director
and Controller
(principal accounting officer)
/s/ Alfred E. Cleveland
/s/ Ronald E. Deal
Name:
Alfred E. Cleveland
Name:
Ronald E. Deal
Title:
Director
Title:
Director
/s/ Tom D. Efird
/s/ Paul S. Goldsmith
Name:
Tom D. Efird
Name:
Paul S. Goldsmith
Title:
Director
Title:
Director
/s/ Jane P. Helm
Name:
L. Vincent Hackley
Name:
Jane P. Helm
Title:
Director
Title:
Director
/s/ Richard Janeway
/s/ J. Ernest Lathem
Name:
Richard Janeway, M.D.
Name:
J. Ernest Lathem, M.D.
Title:
Director
Title:
Director
/s/ James H. Maynard
/s/ Albert O. McCauley
Name:
James H. Maynard
Name:
Albert O. McCauley
Title:
Director
Title:
Director
/s/ J. Holmes Morrison
/s/ Richard L. Player, Jr.
Name:
J. Holmes Morrison
Name:
Richard L. Player, Jr.
Title:
Director
Title:
Director
/s/ Nido R. Qubein
/s/ E. Rhone Sasser
Name:
Nido R. Qubein
Name:
E. Rhone Sasser
Title:
Director
Title:
Director
/s/ Jack E. Shaw
Name:
Jack E. Shaw
Title:
Director
Back to Index
EXHIBIT 99
SOUTHERN NATIONAL CORPORATION
1995 OMNIBUS STOCK INCENTIVE PLAN
Effective April 10, 1995
(As Amended and Restated Effective April 23, 1996)
SOUTHERN NATIONAL CORPORATION
1995 OMNIBUS STOCK INCENTIVE PLAN
ARTICLE I
DEFINITIONS
1.01.
Agreement
means a written  agreement  (including  any  amendment or  supplement  thereto)  between
SNC and a  Participant  specifying  the terms and  conditions of an award of Restricted
Stock, Performance Shares or Performance Units or an Option or SAR granted to such
Participant.
1.02.
Applicable
Percentage
means the same  percentage,  in multiples of 5%, by which the Performance
Share Value during a Valuation  Period exceeds the  Fair Market  Value of SNC Common
Stock on the date that a  Performance  Share award was  granted.  The  Applicable
Percentage  cannot be less than zero but can  exceed 100%.
1.03.
Board
means
the Board of Directors of SNC.
1.04.
Code
means
the Internal Revenue Code of 1986, as amended.
1.05.
Committee
means the Compensation Committee of the Board appointed to administer the Plan.
1.06.
Corresponding  SAR
means an SAR that is granted  in  relation  to a  particular  Option
and that can be  exercised  only upon the  surrender  to SNC,  unexercised, of that
portion of the Option to which the SAR relates.
1.07.
Date of
Exercise
means (i) with  respect to an Option,  the date that the Option  price is
received by SNC and (ii) with respect to an SAR, the date  that the notice of exercise is
received by SNC.
1.08.
Fair Market
Value
means,  on any given date,  the closing price of SNC Common Stock as reported on
the New York Stock  Exchange.  If SNC Common  Stock was not traded on the New York Stock
Exchange on such date,  then
Fair Market Value
is determined  with  reference to the next
preceding day that SNC  Common Stock was so traded.
1.09.
Initial
Value
means,  with  respect to an SAR, the Fair Market Value of one share of SNC Common
Stock on the date of grant,  as set forth in an  Agreement.
1.10.
Legal
Disability
means that a Participant is permanently and totally disabled within the
meaning of Code section 22(e)(3).
1.11.
Option
means a stock option that  entitles the holder to purchase  from SNC a stated number of
shares of SNC Common Stock at the price set forth  in an Agreement.
1.12.
Participant
means an employee of SNC or of a Subsidiary,  including an employee who is a member of
the Board,  or a non-employee  who satisfies  the requirements of Article IV and is
selected by the Committee to receive a Restricted  Stock,  Performance  Share or
Performance Unit award, an Option, an  SAR, or a combination thereof.
1.12a
Payout
Ratio
means with respect to a Performance Unit the ratio determined by dividing the
Performance Measure by the Performance Target.
1.13.
Performance
Share
means an award, in the amount determined by the Committee and specified in an
Agreement,  stated with reference to a specified  number of shares of SNC Common Stock,
that entitles the holder to receive shares of SNC Common Stock, a cash payment,  or a
combination of SNC Common Stock  and cash, in accordance  with the provisions of Article
X. The Committee,  in its  discretion,  will determine  whether a Performance  Share will
be settled  with shares of SNC Common Stock, cash or a combination of SNC Common Stock
and cash.
-2-
1.14.
Performance
Share Value
means the lowest Fair Market Value of SNC Common Stock during a Valuation
Period.
1.14a.
Performance  Measure
means the dollar amount of  compensation  as determined by the
Committee  which is credited to a Participant  pursuant to a  Performance Unit award
based on the extent to which a profitability  target is achieved during the Valuation
Period.  The profitability  target may be based  on earnings per share,  return on equity
or any other financial measure selected by the Committee.  The Performance Measure may be
expressed as a percentage  of the Participant's base salary and may be more or less than
the Performance  Target according to the extent to which the profitability  target is
achieved  during the Valuation Period.
1.14b.
Performance  Target
means the dollar amount of  compensation  as determined by the
Committee which is established by the Committee as a target to be  paid to a  Participant
pursuant to a Performance  Unit award if the  profitability  target  established  by the
Committee is achieved  during the Valuation  Period.  The Performance Target may be
expressed as a percentage of the Participant's base salary.
1.14c.
Performance  Unit
means an award,  in an amount  determined by the Committee and
specified in an Agreement,  that entitles the holder to receive  Shares of SNC Common
Stock,  a cash  payment or a  combination  of SNC Common Stock and cash,  in  accordance
with Article  X(A).  The  Committee,  in its  discretion, will determine whether a
Performance Unit will be settled with shares of SNC Common Stock, cash or a combination
of SNC Common Stock and cash.
1.15.
Plan
means
the Southern National Corporation 1995 Omnibus Stock Incentive Plan, as it may be
hereafter amended or restated.
-3-
1.16.
Restricted
Stock
means shares of SNC Common  Stock  awarded to a  Participant  under  Article IX.
Shares of SNC Common Stock shall cease to be  Restricted Stock when, in accordance with
the terms of the applicable Agreement, they become transferable and free of substantial
risks of forfeiture.
1.17.
Retirement
means that a Participant has separated from service on or after his earliest early
retirement date established  under a tax-qualified  pension or profit sharing plan
maintained by SNC or a Subsidiary in which he participates.
1.18.
SAR
means a
stock  appreciation  right that entitles the holder to receive,  with respect to each
share of SNC Common Stock  encompassed  by the  exercise of such SAR, the amount
determined by the Committee and  specified in an Agreement.  In the absence of such a
determination,  the holder shall be  entitled to receive,  with  respect to each share of
SNC Common  Stock  encompassed  by the exercise of such SAR, the excess of the Fair
Market Value on the  Date of Exercise  over the Initial  Value.  References to
"SARs"  include both  Corresponding  SARs and SARs granted  independently  of
Options,  unless the  context requires otherwise.
1.19.
SNC
means
Southern National Corporation.
1.20.
SNC Common
Stock
means the common stock, $5.00 par value, of SNC.
1.21.
Subsidiary
means any "subsidiary corporation" as such term is defined in Code section 424.
1.22.
Valuation
Period
means the period  beginning on January 1 of the year in which a Performance  Share
award is granted and ending on the following  December 31. There shall be five Valuation
Periods with respect to each Performance  Share award.  With respect to Performance Unit
awards,  there shall be  such number of Valuation Periods as are determined by the
Committee at the time of grant of such award, but in no event less than three Valuation
Periods.
-4-
ARTICLE II
PURPOSES
The
Plan is intended to assist SNC in recruiting and retaining  employees with ability and
initiative by enabling  employees to participate  in its future  success  and to
associate  their  interests  with those of SNC and its  shareholders.  The Plan is
intended to permit the award of shares of  Restricted Stock, the award of Performance
Shares,  the award of Performance  Units, the grant of SARs, and the grant of both
Options qualifying under Code  section 422  ("incentive  stock  options")
and Options not so  qualifying.  No Option that is intended to be an incentive  stock
option shall be invalid for  failure to qualify as an incentive  stock  option.  The
proceeds  received by SNC from the sale of SNC Common Stock  pursuant to this Plan shall
be used for  general corporate purposes.
-5-
ARTICLE III
ADMINISTRATION
Except
as provided in this  Article III,  the Plan shall be  administered  by the  Committee.
The Committee  shall have authority to award  Restricted  Stock,  Performance  Shares and
Performance  Units and to grant Options and SARs upon such terms (not  inconsistent  with
the provisions of this  Plan) as the Committee may consider  appropriate.  Such terms may
include  conditions (in addition to those contained in this Plan) on the exercisability
of  all or any part of an Option or SAR or on the  transferability  or  forfeitability of
Restricted Stock.  Notwithstanding  any such condition,  the Committee  may, in its
discretion,  accelerate the time at which any Option or SAR may be exercised or the time
at which  Restricted  Stock may become  transferable or  nonforfeitable.  In addition,
the Committee shall have complete authority to interpret all provisions of this Plan; to
prescribe the form of Agreements;  to  adopt, amend, and rescind rules and regulations
pertaining to the administration of the Plan; and to make all other  determinations
necessary or advisable  for the  administration  of this Plan. The express grant in the
Plan of any specific power to the Committee  shall not be construed as limiting any power
or  authority of the Committee.  Any decision made, or action taken, by the Committee or
in connection with the  administration  of this Plan shall be final and  conclusive.  No
member of the  Committee  shall be liable for any act done in good  faith  with  respect
to this Plan or any  Agreement,  or  Option,  SAR,  Restricted Stock award, Performance
Share award or Performance Unit award.  All expenses of administering this Plan shall be
borne by SNC.
The
Committee,  in its discretion,  may delegate to one or more officers of SNC, all or part
of the  Committee's  authority and duties with  respect to Participants  who are not
subject to the reporting and other  provisions of Section 16 of the Securities  Exchange
Act of 1934, as in effect from  time to time.  In the  event of such  delegation,  and as
to  matters  encompassed  by the  delegation,  references  in the Plan to the  Committee
shall be  interpreted  as a reference to the  Committee's  delegate or  delegates.  The
Committee  may revoke or amend the terms of a delegation at any time but such  action
shall not invalidate any prior actions of the Committee's delegate or delegates that were
consistent with the terms of the Plan.
-6-
ARTICLE IV
ELIGIBILITY
4.01.
General
.
Any employee of SNC or of any Subsidiary  (including  any  corporation  that becomes a
Subsidiary  after the adoption of this Plan) is  eligible to participate in this Plan if
the Committee, in its sole discretion,  determines that such person has contributed or
can be expected to contribute  to the profits or growth of SNC or a Subsidiary.  Any such
employee may receive an award of Restricted  Stock,  Performance  Shares or Performance
Units or  may be granted one or more  Options,  SARs,  or Options  and SARs.  A Director
of SNC who is an  employee  of SNC or a  Subsidiary  may receive an award of  Restricted
Stock,  Performance  Shares and Performance  Units and may be granted Options or SARs
under this Plan.  Further,  the Committee may from time to  time in its sole discretion
make awards of Restricted  Stock,  Performance  Shares and Performance  Units and may
grant Options or SARs to  non-employees or  non-key  employees in conjunction  with
mergers and  acquisition  transactions.  A member of the Committee may not  participate
in this Plan during the time  that his participation would prevent the Committee from
being  "disinterested"  for purposes of Securities and Exchange  Commission
Rule 16b-3 as in effect  from time to time.
4.02.
Grants
.
The Committee will designate  individuals to whom Restricted Stock,  Performance  Shares
and Performance Units are to be awarded and to  whom Options and SARs are to be granted
and will specify the number of shares of SNC Common Stock  subject to each award or
grant.  An Option may be granted  with or without a related  SAR. An SAR may be granted
with or without a related  Option.  All  Restricted  Stock,  Performance  Share and
Performance  Unit  awards,  and all Option and SAR grants,  under this Plan shall be
evidenced by Agreements  which shall be subject to the applicable  provisions of this
Plan  and to such other  provisions  as the  Committee  may adopt.  Incentive  stock
options may be granted  only to  individuals  who are  employees of SNC or a  Subsidiary
or are otherwise  eligible to receive such awards under Section 422 of the Code, as such
provision may be hereafter  amended.  No Participant may  be granted incentive stock
options or related SARs (under all incentive stock option plans of SNC and its
Subsidiaries)  which are first exercisable in any  calendar year for stock having an
aggregate Fair Market Value  (determined as of the date an option is granted)  exceeding
$100,000.  No Participant may be  granted  Options and SARs that are not related to an
Option in any  calendar  year for more than 30,000  shares of SNC Common  Stock.  In
addition,  in any  calendar  year,  no  Participant  may receive  shares of SNC Common
Stock  pursuant to the grant of any awards made under the Plan for more than a total of
100,000  shares of SNC Common  Stock.  (For  purposes of the  preceding  two  sentences
an Option and  related SAR shall be treated as a single  award.) In  addition, in any
calendar year, no Participant may receive awards under the Plan payable in cash having an
aggregate dollar value in excess of $300,000.
-7-
ARTICLE V
STOCK SUBJECT TO PLAN
5.01.
Source
of Shares.
Upon the award of shares of  Restricted  Stock and when a  Performance
Share or  Performance  Unit is earned,  SNC may issue  authorized but unissued SNC Common
Stock.  Upon the exercise of an Option or SAR, SNC may deliver to the  Participant  (or
the  Participant's  broker if the  Participant so directs), authorized but unissued SNC
Common Stock.
5.02.
Maximum
Number of Shares.
The maximum  aggregate  number of shares of SNC Common Stock that
may be issued  pursuant to the exercise of Options  and SARs and the award of Restricted
Stock and the  settlement  of  Performance  Shares and  Performance  Units under this
Plan is six million,  subject to  increases and adjustments as provided in this Article V
and Article XI.
5.03.
Replenishment.
The
maximum number of shares  authorized for issuance under this Plan under  Section 5.02
shall be increased each calendar year  by 3% (the  Replenishment  Percentage) of the
amount, if any, by which the total number of shares of SNC Common Stock outstanding as of
the last day of such  calendar year exceeds the total number of shares of SNC Common
Stock  outstanding as of the first day of such calendar year.  Provided,  however,  that:
(i)  in no event shall the total number of shares  authorized for issuance under this
Plan exceed 10% of authorized  and  outstanding  SNC Common Stock as of the  time of any
replenishment  adjustment  and (ii) for calendar year 1995,  the first day of the
calendar year shall be deemed to be May 23, 1995 (the date of  SNC's  1995  annual
shareholders'  meeting).  The  issuance  of shares of SNC  Common  Stock  under  this
Plan and the  application  of Article XI shall be  disregarded for purposes of applying
the preceding sentence.
-8-
5.04.
Incentive
Stock Options.
Sections 5.02  and 5.03 to the contrary  notwithstanding,  the
maximum  aggregate number of shares of SNC Common Stock  that may be issued  pursuant to
the exercise of Options that are incentive  stock options  granted under this Plan is six
million,  subject to adjustment as  provided in Article XI.
5.05.
Forfeitures,
etc.
If an Option or SAR is terminated,  in whole or in part, for any reason other
than its exercise,  the number of shares of SNC  Common Stock allocated to the Option or
SAR or portion thereof may be reallocated to other Options, SARs, Restricted Stock
awards,  Performance Share awards  and Performance  Unit awards to be granted under this
Plan. Any shares of Restricted  Stock that are forfeited may be reallocated to other
Options,  SARs or  Restricted Stock awards to be granted under this Plan.
ARTICLE VI
OPTION PRICE
The
price per share for SNC Common Stock  purchased on the exercise of an Option shall be
determined by the Committee on the date of grant;  provided,  however,  that the price
per share for SNC Common  Stock  purchased  on the  exercise of any  non-incentive  stock
option shall not be less than  eighty-five  percent  (85%) of the Fair Market Value on
the date the Option is granted.  The price per share for SNC Common Stock  purchased on
the exercise  of any incentive stock option shall not be less than one-hundred percent
(100%) of the Fair Market Value on the date the Option is granted.
-9-
ARTICLE VII
EXERCISE OF OPTIONS
7.01.
Maximum
Option or SAR Period.
The maximum  period in which an Option or SAR may be exercised
shall be  determined by the Committee on the date  of grant  except that no Option that
is an incentive  stock option and any  Corresponding  SAR that  relates to such Option
shall be  exercisable  after the  expiration  of ten years from the date the Option or
SAR was granted.  The terms of any Option or SAR may provide that it is  exercisable  for
a period less  than such maximum period.
7.02.
Nontransferability.
Any
Option  or SAR  granted  under  this  Plan  shall be  nontransferable  except  by will or
by the laws of  descent  and  distribution,  or, in the  Committee's  sole
discretion,  pursuant to a  beneficiary  designation  acceptable  to the  Committee.  In
the event of any such  transfer,  the Option and any Corresponding SAR that relates to
such Option must be transferred to the same person or persons or entity or entities.
During  the lifetime of a Participant  to whom an Option or SAR is granted,  the Option
or SAR may be exercised only by the  Participant.  No right or interest of a  Participant
in any Option or SAR shall be liable for, or subject to, any lien, obligation, or
liability of such Participant.
-10-
ARTICLE VIII
METHOD OF EXERCISE
8.01.
Exercise
.
An Option or SAR granted under this Plan shall be deemed to have been  exercised on the
Date of Exercise.  Subject to the  provisions  of  Articles VII  and XII, an Option or
SAR may be  exercised  in whole at any time or in part from time to time,  and an Option
or SAR shall vest,  at such  times and in compliance  with such  requirements  as the
Committee  shall  determine;  provided,  however,  that a  Corresponding  SAR that is
related to an  incentive  stock option may be exercised only to the extent that the
related  Option is  exercisable  and only when the Fair Market Value exceeds the option
price of the related  Option.  An Option or SAR  granted  under this Plan may be
exercised  with  respect to any number of whole  shares less than the full  number of
whole  shares for which the Option or SAR could be  exercised.  A partial  exercise of an
Option or SAR shall not affect the right to exercise the  Option or SAR from time to time
in accordance with this Plan and the applicable  Agreement with respect to remaining
shares subject to the Option or related  to the SAR. The exercise of either an Option or
Corresponding  SAR shall result in the  termination of the other to the extent of the
number of shares with  respect to which the Option or Corresponding SAR is exercised.
8.02.
Payment
.
Unless otherwise provided by the Agreement,  payment of the Option price shall be made in
cash or a cash equivalent  acceptable to the  Committee.  If the  Agreement  provides,
payment of all or part of the Option price may be made by  surrendering  shares of SNC
Common Stock to SNC. If SNC  Common Stock is used to pay all or part of the Option price,
the shares  surrendered  must have a Fair Market Value  (determined as of the day
preceding the  Date of Exercise) that is not less than such price or part thereof.
-11-
8.03.
Determination
of Payment of Cash and/or SNC Common Stock Upon Exercise of SAR.
At the  Committee's
discretion,  the amount payable as a result  of the  exercise of an SAR may be settled in
cash,  SNC Common  Stock,  or a  combination  of cash and SNC Common  Stock.  A
fractional  share shall not be  deliverable upon the exercise of an SAR but a cash
payment will be made in lieu thereof.
8.04.
Shareholder
Rights.
No Participant  shall have any rights as a stockholder with respect to shares
subject to an Option or SAR until the Date of  Exercise of such Option or SAR.
ARTICLE IX
RESTRICTED STOCK
9.01.
Award
.  In
accordance with the provisions of Article IV,  the Committee will designate each
individual to whom an award of Restricted  Stock is  to be made and will specify the
number of shares of SNC Common Stock covered by the award.
9.02.
Vesting
.
The Committee,  on the date of the award,  may prescribe that a Participant's  rights in
the Restricted  Stock shall be forfeitable or  otherwise  restricted  for a  period  of
time  set  forth  in the  Agreement.  By way of  example  and not of  limitation,  the
restrictions  may  postpone  transferability  of the shares or may provide that the
shares will be forfeited if the  Participant  separates from the service of SNC and its
Subsidiaries  before the expiration of a stated term or if SNC, SNC and its Subsidiaries
or the Participant fail to achieve stated objectives.
9.03.
Shareholder
Rights
.  Prior to their  forfeiture in accordance  with the terms of the Agreement  and
while the shares are  Restricted  Stock,  a  Participant will have all rights of a
shareholder with respect to Restricted Stock, including the right to receive dividends
and vote the shares;  provided,  however, that (i) a Participant may not sell, transfer,
pledge, exchange,  hypothecate,  or otherwise dispose of Restricted Stock except by will
or the laws  of descent and  distribution  or, in the Committee's  sole discretion,
pursuant to a beneficiary  designation  acceptable to the Committee,  (ii) SNC shall
retain custody of the certificates  evidencing shares of Restricted  Stock, and (iii) the
Participant will deliver to SNC a stock power,  endorsed in blank,  with  respect  to
each award of  Restricted  Stock.  The  limitations  set forth in the  preceding
sentence  shall not apply  after the shares  cease to be  Restricted Stock.
-12-
ARTICLE X
PERFORMANCE SHARE AWARDS
10.01.
Award.
In
accordance with the provisions of Article IV, the Committee will designate  individuals
to whom an award of Performance  Shares is to  be granted  and will  specify  the number
of shares of SNC  Common  Stock  covered  by the  award.  The  number of shares of SNC
Common  Stock  covered by a  Performance  Share award is merely a target;  the number of
shares of SNC Common Stock earned and issued under a Performance Share award may be more
or less  than the target based on the Applicable Percentage.
10.02.
Earning
the Award.
A Performance  Share award will be earned based on the  Performance  Share
Value during each of the five  Valuation  Periods  following  the date of award.  The
number of shares of SNC Common Stock earned under a Performance  Share award as of the
end of a Valuation  Period will be  equal to the product of (i) the number of shares
covered by the Performance Share award and (ii) the Applicable  Percentage;  provided,
however,  that such  product  shall be reduced by the number of shares of SNC Common
Stock earned or, in the case of a cash  payment,  the number of shares  represented  by
the  payment, in a prior Valuation Period with respect to the same Performance Share
Award.
10.03.
Employment.
Section
10.02 to the  contrary  notwithstanding,  a  Participant's  right to earn  additional
shares of SNC Common  Stock or cash  payments under  Performance  Share awards shall
terminate if the  Participant's  employment with SNC and its Subsidiaries ends for
reasons other than death,  Legal Disability or Retirement.  The preceding  sentence shall
not affect a Participant's  right to receive shares of SNC Common Stock or cash payments
that  were  earned in a  Valuation  Period  that ended  before the  Participant's
termination  of  employment.  If a  Participant's  employment  with SNC and its
Subsidiaries ends on account of death, Legal Disability or Retirement,  the Participant
(or the Participant's  estate or designated  beneficiary in the case  of his death) shall
be entitled to receive shares of SNC Common Stock or cash payment to the extent that
Performance  Shares are earned in Valuation Periods  preceding the Participant's
termination of employment and the next following Valuation Period.
-13-
10.04.
Issuance
of Shares.
To the extent that a  Performance  Share award is settled with SNC Common
Stock,  the shares of SNC Common Stock earned in  accordance with Section 10.02
shall be issued to the Participant as soon as practicable after the end of the Valuation
Period;  provided,  however,  that no  shares shall be issued unless the Committee
certifies the number of shares of SNC Common Stock earned by the Participant  during that
Valuation  Period.  A  fractional share shall not be issuable under this Article X but
instead will be settled in cash.
10.05.
Settlement
in Cash.
To the extent  that a  Performance  Share award is settled in cash,  the
payment  will be made in a single sum as soon as  practicable after the end of the
Valuation Period; provided,  however, that no payment shall be made unless the Committee
certifies the amount earned by the  Participant  during that Valuation  Period.  To the
extent that a Performance Share award is settled in cash, the amount of cash payable
under a award shall  equal the Fair  Market  Value  number of shares of SNC Common  Stock
earned  during  the  Valuation  Period on the date that the  Committee  certifies  the
Participant's right to receive the payment.
-14-
10.06.
Shareholder
Rights.
No Participant shall, as a result of receiving an award of Performance
Shares,  have any rights as a shareholder until and  to the extent that the award of
Performance  Shares is earned and SNC Common Stock is issued to the  Participant.  A
Participant  may not sell,  transfer,  pledge, exchange,  hypothecate,  or otherwise
dispose of a Performance Share award or the right to receive payment thereunder other
than by will or the laws  of descent and distribution, or in the Committee's sole
discretion, pursuant to a beneficiary designation acceptable to the Committee.
ARTICLE X(A)
PERFORMANCE UNIT AWARDS
10(A).01.
Award.
In
accordance  with the provisions of Article IV, the Committee will designate  individuals
to whom an award of Performance  Units is to  be granted.  At the date of grant,  the
Committee  shall establish for each  Performance  Unit award:  (i) the Performance
Measure and (ii) the Performance  Target to be paid to the Participant if the Performance
Measure is met during the applicable  Valuation Periods.  The number of Performance Units
granted to  the Participant will equal the Performance Target of the Participant divided
by the Fair Market Value of a share of SNC Common Stock on the date of grant.
10(A).02.
Earning
the Award.
A Performance  Unit award will be earned based on the value of each
Performance  Unit at the end of that number of Valuation  Periods  following the date of
award as determined to be applicable by the Committee,  which number shall not be less
than three. As soon as practical after  the  expiration  of the  Valuation  Period as the
audited  financial  statements of the  Corporation  for the  preceding  calendar year are
available to the  Committee,  the Committee will  determine the value for each
Performance  Unit. The value of a Performance  Unit will equal the Payout Ratio times the
Fair  Market Value of the SNC Common Stock on the date of grant of the Performance Unit
(or such other nominal value as may be set by the Committee).
-15-
10(A).03.
Employment.
Section
10(A).02 to the contrary  notwithstanding,  a Participant's right to earn shares of SNC
Common Stock or cash payments under  Performance Unit awards shall terminate if the
Participant's  employment with SNC and its Subsidiaries  ends for reasons other than
death,  Legal Disability  or Retirement.  The preceding  sentence shall not affect a
Participant's  right to receive shares of SNC Common Stock or cash payments that were
earned in a  Valuation  Period that ended before the  Participant's  termination of
employment.  If a  Participant's  employment  with SNC and its  Subsidiaries  ends on
account of death, Legal Disability or Retirement,  the Participant (or the Participant's
estate or designated  beneficiary in the case of his death), shall,  in the Committee's
discretion,  be entitled to receive shares of SNC Common Stock or cash payment on a
prorated basis to the extent that Performance  Units  are earned in Valuation  Periods
preceding the  Participant's  termination  of employment  and the next  following
Valuation  Period.  In such event;  the  percentage  of  Performance  Units to be paid
shall  equal (i) the number of full  calendar  months  between  the date of grant of the
award and the date of  termination of employment, divided by (ii) the total number of
months in the Valuation Period.
10(A).04
Issuance
of Shares.
To the extent that a  Performance  Unit award is settled  with SNC Common
Stock,  the shares of SNC Common  Stock having a  value equal to the Performance Units
earned in accordance with  Section 10(A).02  shall be issued to the Participant as
soon as practicable after the end of  the Valuation Period;  provided,  however,  that no
shares shall be issued unless the Committee certifies the number of shares of SNC Common
Stock earned by  the Participant during that Valuation Period.  A fractional share shall
not be issuable under this Article X(A) but instead will be settled in cash.
-16-
10(A).05
Settlement
in Cash.
To the extent  that a  Performance  Unit award is settled  in cash,  the
payment  will be made in a single sum as soon as  practicable after the end of the
Valuation Period; provided,  however, that no payment shall be made unless the Committee
certifies the amount earned by the  Participant  during that Valuation  Period.  To the
extent that a Performance  Unit award is settled in cash, the amount of cash payable
under a Performance  Unit award shall equal the value of the  Performance  Units earned
during the Valuation  Period.  The Committee  shall certify the  Participant's  right to
receive the payment.
10(A).06
Shareholder
Rights.
No Participant  shall, as a result of receiving an award of Performance
Units, have any rights as a shareholder until and  to the extent that the award of
Performance  Units is earned and SNC Common  Stock is issued to the  Participant.  A
Participant  may not sell,  transfer,  pledge,  exchange,  hypothecate,  or otherwise
dispose of a Performance Unit award or the right to receive payment thereunder other than
by will or the laws  of descent and distribution, or, in the Committee's sole
discretion, pursuant to a beneficiary designation acceptable to the Committee.
ARTICLE XI
ADJUSTMENT UPON CHANGE IN SNC COMMON STOCK
The
maximum  number of shares that may be issued  pursuant to the  exercise of Options and
SARs and the award of  Restricted  Stock and the  settlement of Performance Shares and
Performance Units under this Plan and the Replenishment  Percentage in Section 5.03 shall
be proportionately  adjusted,  and the terms of  outstanding  Restricted  Stock awards,
Performance  Share awards,  Performance  Unit awards,  Options and SARs shall be
adjusted,  as the  Committee shall  determine to be equitably  required in the event that
(a) SNC (i) effects one or more stock  dividends,  stock  split-ups,  subdivisions or
consolidations  of shares or (ii) engages in a transaction to which Code  section 424
applies or (b) there occurs any other event which, in the judgment of  the Committee
necessitates such action.  Any determination made under this Article XI by the Committee
shall be final and conclusive.
-17-
The
issuance by SNC of shares of stock of any class, or securities  convertible into shares
of stock of any class, for cash or property, or  for labor or  services,  either  upon
direct  sale or upon the  exercise of rights or warrants  to  subscribe  therefor,  or
upon  conversion  of shares or  obligations of SNC convertible into such shares or other
securities,  shall not affect,  and no adjustment by reason thereof shall be made with
respect to,  outstanding awards of Restricted Stock, Performance Shares, Performance
Units, Options or SARs.
The
Committee may make awards of Restricted Stock,  Performance Shares and Performance Units
and may grant Options and SARs in substitution  for stock awards,  stock  options,  stock
appreciation  rights,  or similar  awards held by an individual who becomes an employee
of SNC or a Subsidiary in  connection with a transaction  described in the first
paragraph of this Article XI.  Notwithstanding any provision of the Plan (other than the
limitation of  Article V),  the terms of such  substituted  Restricted  Stock,
Performance  Share and  Performance  Unit  awards and Option or SAR grants  shall be as
the  Committee, in its discretion, determines is appropriate.
-18-
ARTICLE XII
COMPLIANCE WITH LAW AND APPROVAL OF REGULATORY BODIES
No
Option or SAR shall be  exercisable,  no SNC Common  Stock  shall be issued,  no
certificates  for shares of SNC Common  Stock shall be  delivered, and no payment shall
be made under this Plan except in compliance with all applicable federal and state laws
and regulations (including,  without  limitation,  withholding tax  requirements)  and
the rules of all domestic stock exchanges on which SNC's shares may be listed.  SNC shall
have the right to  rely on an opinion of its counsel as to such  compliance.  Any share
certificate  issued to evidence SNC Common Stock for which shares of Restricted  Stock
are awarded,  Performance  Shares or  Performance  Units were earned or for which an
Option or SAR is exercised may bear such legends and  statements as the  Committee may
deem advisable to assure  compliance with federal and state laws and regulations.  No
Option or SAR shall be exercisable,  no SNC Common Stock  shall be issued, no certificate
for shares shall be delivered,  and no payment shall be made under this Plan until SNC
has obtained such consent or approval  as the Committee may deem advisable from
regulatory bodies having jurisdiction over such matters.
ARTICLE XIII
GENERAL PROVISIONS
13.01.
Effect
on Employment.
Neither the adoption of this Plan,  its  operation,  nor any documents
describing or referring to this Plan (or any part  thereof)  shall confer upon any
employee  any right to continue in the employ of SNC or a  Subsidiary  or in any way
affect any right and power of SNC or a  Subsidiary to terminate the employment of any
employee at any time with or without assigning a reason therefor.
13.02.
Unfunded
Plan.
The Plan, insofar as it provides for grants,  shall be unfunded,  and SNC shall
not be required to segregate any assets that may  at any time be  represented  by grants
under this Plan.  Any  liability of SNC to any person with respect to any grant under
this Plan shall be based solely  upon any  contractual  obligations  that may be created
pursuant to this Plan. No such obligation of SNC shall be deemed to be secured by any
pledge of, or  other encumbrance on, any property of SNC.
-19-
13.03.
Rules
of Construction.
Headings are given to the  articles  and sections of this Plan
solely as a  convenience  to  facilitate  reference.  The  reference to any statute,
regulation, or other provision of law shall be construed to refer to any amendment to or
successor of such provision of law.
13.04.
Employee
Status.
For purposes of determining the applicability of Code section 422 (relating
to incentive stock options),  or in the event that  the terms of any Option or SAR
provide that it may be exercised or that awards of  Restricted  Stock,  Performance
Shares or  Performance  Units may become  vested or earned only during  employment  or
within a specified  period of time after  termination  of  employment,  the Committee may
decide to what extent  leaves of absence for governmental or military service,  illness,
temporary  disability,  or other reasons shall not be deemed  interruptions of continuous
employment.
ARTICLE XIV
AMENDMENT
The
Board may amend or terminate this Plan from time to time; provided,  however,  that no
amendment may become effective until shareholder  approval is  obtained if (i) the
amendment  increases  the  aggregate  number of shares of SNC Common  Stock that may be
issued  under the Plan or (ii) the  amendment  changes the class of individuals  eligible
to become  Participants.  No amendment shall,  without a Participant's  consent,
adversely affect any  rights of such Participant  under any outstanding  Restricted
Stock,  Performance Share or Performance Unit award or under any Option or SAR
outstanding at  the time such amendment is made.
-20-
ARTICLE XV
DURATION OF PLAN
No
awards of  Restricted  Stock,  Performance  Shares and  Performance  Units and no grants
of Options and SARs may be made under this Plan  after April 9, 2005.  Restricted  Stock,
Performance  Share and Performance Unit awards and Options and SARs granted before that
date shall remain valid in  accordance with their terms.
ARTICLE XVI
EFFECTIVE DATE OF PLAN
Awards
of Restricted Stock,  Performance  Shares and Performance Units may be made and Options
and SARs may be granted under this Plan upon  its adoption by the Board, provided that no
Restricted Stock,  Performance Share or Performance Unit award, Option or SAR will be
effective unless this Plan  is approved by shareholders  holding a majority of SNC's
outstanding voting stock, voting either in person or by proxy at a duly held
shareholders'  meeting  within twelve months of such adoption.
Back to Index
-21-
1997 DECLARATION OF AMENDMENT TO
BB&T CORPORATION
OMNIBUS STOCK INCENTIVE PLAN
THIS
DECLARATION OF AMENDMENT,  made the 28
th
day of  October,  1997, by BB&T CORPORATION
(the "Company"),  as sponsor of the BB&T Corporation Omnibus Stock Incentive
Plan (the "Plan").
R
E
C
I
T
A
L
S
:
It
is deemed  advisable  for the Company to amend the Plan to allow a Participant  to
designate a beneficiary  to exercise any Options or  SARs granted to him under the Plan
upon his death and to make certain other changes deemed necessary or desirable.
NOW,
THEREFORE,  it is declared,  that effective as of the date hereof,  the Plan shall be and
hereby is amended by adding the following  new material to the end of Section 7.02 of the
Plan:
"Notwithstanding
the foregoing,  on a beneficiary  designation form provided by the Committee,  a
Participant may  designate  a  beneficiary  to  exercise  any  Option or SAR  granted  to
him under the Plan upon his  death.  The  designation of a beneficiary in accordance with
this Section 7.02 shall not constitute a transfer."
IN
WITNESS WHEREOF, this Amendment has been executed by the Company as of the day and year
first above written.
BB&T CORPORATION
By:
/s/ Robert E. Greene
Senior Executive Vice President
Attest:
/s/ Jerone C. Herring
Secretary
[Corporate Seal]
1997 DECLARATION OF AMENDMENT TO
BB&T CORPORATION
INCENTIVE STOCK OPTION PLAN
THIS
DECLARATION OF AMENDMENT,  made the 28
th
day of  October,  1997, by BB&T
CORPORATION (the "Company"),  as sponsor of the BB&T Corporation Incentive
Stock Option Plan (the "Plan").
R
E
C
I
T
A
L
S
:
It
is deemed  advisable  for the Company to amend the Plan to allow a  Participant  to
designate a  Beneficiary  to exercise any Options  granted to him under the Plan upon his
death and to make certain other changes deemed necessary or desirable.
NOW,
THEREFORE, it is declared, that the Plan shall be and hereby is amended, as follows:
1.     
Effective as of the date hereof, delete paragraph 2a of the Plan and substitute therefor
the following:
"a.
Beneficiary.  Any person  (including a trust) who may,  pursuant to a  beneficiary
designation  form  filed  with the  Committee  or under an  employee's  will or under
the laws of  descent  and  distribution,  succeed  to the  employee's right to exercise
any Option by reason of the employee's death."
2.     
Effective as of the date hereof, insert the following new material to the end of
paragraph 12 of the Plan:
"Notwithstanding
the foregoing,  on a beneficiary  designation form provided by the Committee,  a
Participant may  designate a  Beneficiary  to exercise any Option  granted to him under
the Plan upon his death.  The  designation  of a Beneficiary in accordance with this
paragraph 12 shall not constitute a transfer."
IN
WITNESS WHEREOF, this Amendment has been executed by the Company as of the day and year
first above written.
BB&T CORPORATION
By:
/s/ Robert E. Greene
Senior Executive Vice President
Attest:
/s/ Jerone C. Herring
Secretary
[Corporate Seal]
1999 DECLARATION OF AMENDMENT TO
BB&T CORPORATION
1995 OMNIBUS STOCK INCENTIVE PLAN
THIS
DECLARATION  OF AMENDMENT  is made this 27
th
day of  April,  1999,  by BB&T CORPORATION
(the  "Corporation")  to the BB&T Corporation 1995 Omnibus Stock Incentive Plan
(the "Plan").
R
E
C
I
T
A
L
S
:
It
is deemed  advisable to amend the Plan in order to permit the transfer of  nonqualified
stock  options  granted under the Plan to the  extent deemed  advisable by the  committee
authorized to  administer  the Plan (the  "Committee")  and in a manner
otherwise  consistent  with certain  federal  securities laws, and to make certain
related revisions to the Plan.
NOW,
THEREFORE,  IT IS DECLARED that,  effective as of April 27, 1999, the Plan shall
be amended by deleting Section 7.02 of the  Plan in its entirety and inserting the
following in lieu thereof:
"
Nontransferability.
Incentive  stock options and SARs shall not be  transferable  except by will or the laws
of descent and  distribution.  In the event of any such transfer of an incentive  stock
option,  the Option and any  corresponding  SAR that  relates  to such  Option  must be
transferred  to the same  person or  persons or entity or  entities.  Non-incentive
stock  options shall not be transferable  other than by will or the laws of descent and
distribution,  except as may be permitted by  the Committee in its sole discretion in a
manner  consistent with the registration  provisions of the Securities Act of 1933,  as
amended.  Except as may be permitted  by the  preceding  sentence  with  respect to the
transfer of  non-incentive  stock  options,  (i) during the lifetime of a  Participant
to whom an Option or SAR is granted,  the Option or SAR may be exercised  only by the
Participant;  and (ii) no right or  interest  of a  Participant  in any  Option or SAR
shall be liable  for,  or  subject to, any lien,  obligation,  or  liability  of such
Participant.  Notwithstanding  the  foregoing,  on a  beneficiary  designation  form
provided by the Committee,  a Participant may designate a beneficiary to exercise any
Option or SAR granted  to him under the Plan upon his death.  The  designation of a
beneficiary  in accordance  with  procedures  established by the  Committee shall not
constitute a transfer."
IN
WITNESS WHEREOF, this Declaration of Amendment is executed on behalf of BB&T
Corporation on the day and year first above written.
BB&T CORPORATION
By:
/s/ Kelly S. King
President
ATTEST:
/s/ Jerone C. Herring
Secretary
[Corporate Seal]
2000 DECLARATION OF AMENDMENT TO
BB&T CORPORATION
1995 OMNIBUS STOCK OPTION PLAN
THIS
DECLARATION OF AMENDMENT is made effective as of the 1st day of January,  2000, by BB&T CORPORATION
(the "Corporation") to the BB&T Corporation 1995 Omnibus Stock Incentive Plan,
as amended and restated (the "Plan").
R
E
C
I
T
A
L
S
:
It
is deemed  advisable to amend the Plan in order to increase the maximum  amount of awards
that can be received by a participant  under  the Plan and to increase the aggregate
number of shares of BB&T common stock that may be issued pursuant to awards under the
Plan.
NOW,
THEREFORE, IT IS DECLARED, that, effective as of the 22nd day of February, 2000, the Plan
shall be amended as follows:
1.     
By deleting Section 4.02 of the Plan in its entirety and inserting the following in lieu
thereof:
"4.02.
Grants.
The Committee will designate  individuals to whom Restricted Stock,  Performance
Shares and Performance  Units are to be awarded and to whom  Options and SARs are to be
granted and will  specify the number of shares of BB&T Common  Stock  subject to each
award or grant.  An Option may be granted  with or without a related  SAR. An SAR may be
granted  with  or without a related Option.  All Restricted  Stock,  Performance  Share
and Performance Unit awards,  and all Option and SAR  grants,  under this Plan shall be
evidenced by Agreements  which shall be subject to the  applicable  provisions of this
Plan  and to such other  provisions as the  Committee may adopt.  Incentive  stock
options may be granted only to  individuals  who  are  employees of BB&T or a
Subsidiary  or are  otherwise  eligible to receive such awards under  Section 422 of the
Code, as  such provision may be hereafter  amended.  No Participant  may be granted
incentive stock options or related SARs (under all  incentive  stock option  plans of BB&T
and its  Subsidiaries)  which are first  exercisable  in any  calendar  year for stock
having an aggregate Fair Market Value  (determined as of the date an option is granted)
exceeding  $100,000.  No Participant  may be granted  Options and SARs that are not
related to an Option in any calendar year for more than 500,000  shares of BB&T
Common Stock.  In addition,  in any calendar  year, no  Participant  may receive  shares
of BB&T Common Stock pursuant to the  grant of any awards made under the Plan for
more than a total of 500,000  shares of BB&T Common  Stock.  (For purposes of the
preceding two  sentences an Option and related SAR shall be treated as a single  award.)
In addition,  in any calendar  year,  no Participant may receive awards under the Plan
payable in cash having an aggregate dollar value in excess of $2,000,000."
2.     
By deleting Section 5.02 of the Plan in its entirety and inserting the following in lieu
thereof:
"5.02.
Maximum  Number of  Shares.
The  maximum  aggregate  number of shares of BB&T Common
Stock  that may be issued  pursuant to the exercise of Options and SARs and the award of
Restricted  Stock and the settlement of the Performance  Shares  and Performance  Units
under this Plan is 29 million,  subject to increases and adjustments as provided in this
Article V and  Article XI."
3.     
By deleting Section 5.04 of the Plan in its entirety and inserting the following in lieu
thereof:
"5.04.
Incentive Stock Options.
Sections 5.02 and 5.03 to the contrary  notwithstanding,  the
maximum  aggregate number  of shares of BB&T Common  Stock that may be issued
pursuant to the  exercise of Options  that are  incentive  stock  options  granted under
this Plan is 29,000,000, subject to adjustment as provided in Article XI."
IN
WITNESS  WHEREOF,  this  Declaration of Amendment is executed on behalf of BB&T
Corporation on the day and year first above written.
BB&T CORPORATION
By:
/s/ Kelly S. King
President
ATTEST:
/s/ Jerone C. Herring
Secretary
[Corporate Seal]
2003 DECLARATION OF AMENDMENT TO
BB&T CORPORATION
1995 OMNIBUS STOCK INCENTIVE PLAN
THIS
DECLARATION OF AMENDMENT is made effective the 25th day of February,  2003, by BB&T
CORPORATION  (the  "Corporation")  to the BB&T  Corporation 1995 Omnibus
Stock Incentive Plan, as amended (the "Plan").
R
E
C
I
T
A
L
S
:
It
is deemed  advisable  to amend the Plan in order to (1)  increase  the  aggregate  number
of shares of BB&T  common  stock that may be  issued  pursuant to awards granted
under the Plan; (2) increase the maximum number of shares of BB&T common stock that
may be issued  pursuant to incentive stock  options granted under the Plan; and (3)
provide that  shareholder  approval shall be required for any  cancellation,  regrant or
other  modification of an option  which would result in a repricing of the option.
NOW,
THEREFORE,  IT IS DECLARED that,  effective as of February 25, 2003,  the Plan shall be
amended as follows  (subject to shareholder  approval of the amendment of Section 5.02
and 5.04), with the remainder of the Plan being unchanged:
1.     
By deleting Section 5.02 of the Plan in its entirety and inserting the following in lieu
thereof:
"5.02.
Maximum Number of Shares.
The maximum  aggregate  number of shares of BB&T Common
Stock that may be issued pursuant  to the  exercise  of  Options  and SARs and the award
of  Restricted  Stock and the  settlement  of  Performance  Shares  and  Performance
Units under this Plan is  38,000,000,  subject to increases  and  adjustments  as
provided in this Article V and  Article XI."
2.     
By deleting Section 5.04 of the Plan in its entirety and inserting the following in lieu
thereof:
"5.04.
Incentive Stock Options.
Sections 5.02 and 5.03 to the contrary  notwithstanding,  the
maximum  aggregate  number of  shares of BB&T Common Stock that may be issued
pursuant to the exercise of Options that are incentive  stock options granted  under this
Plan is 38,000,000 subject to adjustment as provided in  Article XI."
3.     
By adding the  following  provision  as the third and final  sentence of Article VI, with
the  remainder  of Article VI being  unchanged:
"
Option
Price.
Except for  adjustments  made pursuant to Article XI, the option price for any
outstanding  Option  granted  under the Plan may not be  decreased  after the date of
grant,  nor may any  outstanding  Option  granted  under the Plan be  surrendered to the
Corporation as  consideration  for the grant of a new Option with a lower exercise price
than the original  Option, without shareholder approval."
IN
WITNESS WHEREOF, this Declaration of Amendment is executed on behalf of BB&T Corporation
as of the day and year first above written.
BB&T CORPORATION
By:
/s/ Kelly S. King
President
ATTEST:
/s/ Jerone C. Herring
Secretary
[Corporate Seal]