PFPC, a member of The PNC Financial Services Group, Inc. (NYSE: PNC), announced today that it has been selected to provide multiple services to the BB&T Funds and BB&T Variable Insurance Funds, a family of 30 funds representing 65,000 shareholder accounts and $5.5 billion in assets. The Funds include equity, fixed income, money market and variable insurance funds, as well as fund of funds. BB&T Asset Management, Inc. serves as investment adviser to the Funds.

"We are excited about this opportunity to expand our relationship with such a successful organization," said Steve Wynne, president, PFPC. "BB&T has a client-centric focus designed to help investors achieve economic success and financial security. Our aim is to provide a host of elite products and personalized services that allow BB&T to focus on what they do best--meeting the individual needs of their clients."

Under the terms of the agreements, PFPC will provide fund accounting, transfer agency, financial and regulatory administration, and distribution services. In addition, PFPC will offer Chief Compliance Officer support services.

"The Funds' trustees selected PFPC due to their industry experience and commitment to investing the necessary resources to ensure accurate and responsive service," said Keith Karlawish, president of the Funds and BB&T Asset Management, Inc. "We are very impressed with the quality of people and systems in place at PFPC and their dedication to serving our needs. We think they have a distinct competitive advantage, and we are proud to be partnered with them."

Raleigh, N.C.-based BB&T Asset Management, Inc. is a registered investment adviser and subsidiary of BB&T Corporation with more than $16 billion in discretionary assets under management.

Winston-Salem, N.C.-based BB&T Corporation (NYSE: BBT) and its subsidiaries offer full-service commercial and retail banking and additional financial services such as insurance, investments, retail brokerage, corporate finance, consumer finance, payment services, international banking, leasing and trust.

Founded in 1872, BB&T operates more than 1,450 financial centers in the Carolinas, Virginia, Maryland, West Virginia, Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana and Washington, D.C.

With $121.4 billion in assets, BB&T Corporation is the nation's 11th largest financial holding company. More information about the company is available at www.BBT.com.

PFPC, a member of The PNC Financial Services Group, Inc., is one of the nation's largest full-service mutual fund transfer agents and a leading provider of processing, technology and business solutions to the global investment industry. PFPC offers fund accounting and administration, transfer agency, custody and subaccounting services for 68 million shareholder accounts representing $2.2 trillion in total assets. Visit us at www.pfpc.com.