WELCOME, N.C. (Dec. 11, 2006) – BB&T Corporation (NYSE: BBT) and Richard Childress Racing (RCR) have reached a two-year agreement for the full-service financial institution to sponsor RCR’s No. 2 Chevrolet Monte Carlos and driver Clint Bowyer in the NASCAR Busch Series and become the Official Bank of Richard Childress Racing.

 

Bowyer is scheduled to compete in 17 races each in the 2007 and 2008 NASCAR Busch Series seasons beginning with the February 17 Daytona 300 at Daytona International Speedway.

 

“As a Winston-Salem native and someone who’s had a banking relationship with BB&T for some time now, I’m thrilled BB&T decided to get into racing – and to do it with us,” said Richard Childress, president and CEO of Richard Childress Racing. “This is a special partnership that will pair Clint Bowyer, one of our sport’s exciting young talents, with BB&T, one of the nation’s top financial services providers. BB&T’s reputation for home-town, personal service is something our fans will certainly respect and appreciate.”

 

Winston-Salem, N.C.-based BB&T Corporation and its subsidiaries offer full-service commercial and retail banking and additional financial services such as investments, retail brokerage, corporate finance, payment services, international banking, leasing and trust. 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 $118.5 billion in assets, BB&T Corp. is the nation’s 11th largest financial holding company. Visit www.BBT.com for more information about the company.

 

“This is a unique opportunity for BB&T to extend our brand and generate new business,” said BB&T Chief Marketing Officer Steve Wiggs. “We have a significant commitment in the automotive arena through our auto finance groups, BB&T Sales Finance, Regional Acceptance and Lendmark Financial. In addition, our BB&T Capital Markets division is the only full service U.S. investment bank with equity research and investment banking teams dedicated exclusively to the automotive aftermarket industry.

 

“This sponsorship expands our banking and investments brand awareness in a new and exciting way throughout the Southeast and across the nation. We’re proud to align ourselves with Richard Childress, a premier team owner with a winning tradition and significant momentum going into the 2007 racing season. On behalf all BB&T employees, I can’t wait to see Clint drive the No. 2 BB&T Chevrolet to Victory Lane.”

 

Bowyer has three victories, 28 top-five and 46 top-10 finishes in 87 NASCAR Busch Series starts. He finished second in 2005 and third in 2006 in the championship point standings in his first two full seasons in NASCAR’s junior division. The Emporia, Kan., native is also the fulltime driver of RCR’s No. 07 Jack Daniel’s Chevrolet team in the NASCAR NEXTEL Cup Series and earned four top-five and 11 top-10 finishes during his 2006 rookie campaign. 

 

“It’s really a privilege to be able to drive for an industry leader like BB&T. After running a full-time schedule in Busch and Cup last year, I was looking to trim my Busch Series schedule back a little bit and that fit perfectly with BB&T’s plans. We’ve picked out some races that make sense for everyone so there’s really no doubt in my mind that it won’t be long before we roll the BB&T Chevy Monte Carlo into the Winner’s Circle.”