Regions Announces Results of Stockholder Vote andDeclares Dividend.

BIRMINGHAM, Ala.--(BUSINESS WIRE)--July 29, 1998--Stockholders of Regions Financial Corporation (NASDAQ: RGBK) today approved the three proposals submitted for stockholder approval at the twenty-seventh annual meeting.

Regions' stockholders voted to approve the merger of First Commercial

Corporation into Regions. First Commercial, headquartered in Little Rock, Arkansas, has banking operations in Arkansas, Tennessee, Texas, Louisiana and Oklahoma with total assets of $7.3 billion. Under the terms of the merger agreement, Regions will exchange 1.7 shares of its common stock for each share of First Commercial common stock. First Commercial's stockholders approved the merger with Regions at their special stockholders' meeting held yesterday. The merger is expected to be completed by the end of this month.

Regions' stockholders also approved the re-election of three members of the board of directors. Current directors, Carl E. Jones, Jr., Henry E. Simpson and Robert J. Williams, were re-elected for three year terms expiring in the year 2001.

The proposal to increase the number of authorized shares of common stock from 240 million to 500 million was also approved by Regions' stockholders.

Regions' board of directors today declared a quarterly cash dividend of $.23 per share, payable October 1, 1998 to stockholders of record as of September 17, 1998. This is the 109th consecutive quarter in which the company has paid cash dividends, going back to its formation in 1971.

Regions Financial Corporation is a bank holding company providing banking services from 500 offices in six southeastern states and banking-related services in the fields of mortgage banking, insurance, securities brokerage and mutual funds. Regions currently has ten pending acquisitions, five in Georgia and one each in Alabama, Arkansas, Florida, Louisiana and Tennessee. After all pending acquisitions are completed, Regions' total assets are expected to exceed $35 billion. Regions' common stock is traded in the Nasdaq National Market System under the symbol RGBK.

    CONTACT:  Regions Financial Corp., Birmingham
               Ronald C. Jackson, 205-326-7374