CHARLOTTE – Wachovia Corporation (NYSE: WB) today announced that its board of directors approved the company’s regular quarterly cash dividend on its common stock of 51 cents per share.

SANFORD – The Pantry, Inc. (Nasdaq: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has completed the acquisition of 19 convenience stores in North Carolina from Lee-Moore Oil Company, which has been operating the stores under the TruBuy and On-The-Run banners.

RALEIGH – Information Technology specialists, Cii Associates, Incorporated has announced its upcoming Search Engine Optimization training class to be held Thursday, March 23, 2006 in Raleigh, NC.

RALEIGH – The Research Triangle Regional Partnership has launched a new strategy to increase international investment in the 13-county region by attracting more direct investment from foreign companies, increasing trade opportunities for local companies, and building strategic alliances with partners in the region and around the world.

SANFORD – The Pantry, Inc. (Nasdaq: PTRY), the leading independently operated convenience store chain in the southeastern U.S., announced today that it has filed an automatic shelf registration statement with the Securities and Exchange Commission with respect to the resale by holders thereof of the $150,000,000 aggregate principal amount of 3 percent Senior Subordinated Convertible Notes due 2012 (and the shares of common stock issuable upon conversion of the notes) that the company had issued in a private placement last November.

SANFORD – The Pantry, Inc. (Nasdaq: PTRY), the leading independently operated convenience store chain in the southeastern U.S., today announced that it has completed the acquisition of 39 convenience stores in Mississippi and Louisiana from Waring Oil Company, LLC, which has been operating the stores under the Interstate Food Stops banner.

RALEIGH – Local taxes and fees in Fayetteville totaled about $1,354 per resident in 2004, ranking the city 20th out of 26 major North Carolina cities in local government costs, according to a new report from the Center for Local Innovation.

DUNN – The Boards of Directors of New Century Bancorp, Inc., Dunn, North Carolina (OTC Bulletin Board: NCBC), and Progressive State Bank, Lumberton, North Carolina announced that they had entered into a definitive agreement whereby Progressive State Bank will be acquired by New Century Bancorp through the merger of Progressive State Bank with and into New Century Bank South (formerly New Century Bank of Fayetteville), a wholly-owned subsidiary of New Century Bancorp. The transaction is subject to approval of the shareholders of Progressive State Bank and federal and state banking regulatory authorities. Subject to such approval, the shareholders of Progressive State Bank will receive $21.30 per share in cash. It is anticipated that the merger will take place during third quarter 2006.

EVANSTON, Ill. – North Carolina gained 384 plants but lost 3,355 manufacturing jobs over the past 12 months, according to the 2006 North Carolina Manufacturers Register, an industrial guide published annually by Manufacturers’ News, Inc.

RESEARCH TRIANGLE PARK – The North Carolina State Education Assistance Authority has announced a scholarship opportunity for students who enroll at public universities in fall 2006. The Golden LEAF Scholars Program is funded by a grant from the Golden LEAF Foundation of Rocky Mount, a long-term economic advancement foundation.

ROXBORO – Hundreds of thousands of residents in rural and economically distressed areas of North Carolina will get access to primary medical care, and the uninsured in those areas are expected to receive $50 million worth of medical care, under a joint effort by the Blue Cross and Blue Shield of North Carolina Foundation and the North Carolina Medical Society Foundation.

FAYETTEVILLE – The city and Fort Bragg have been selected as one of seven communities nationally to be the focus of a project that seeks to strengthen the economic, historic and social ties between Army installations and historic commercial districts in neighboring communities.

WASHINGTON – President Bush's FY-07 budget request continues to favor spending on defense and homeland security. The budget for the Pentagon is set to increase by nearly 5% to $439.3 billion including $84.2 billion for weapon systems, an 8% gain. This amount is in addition to $120 billion requested by the Pentagon to help pay for the wars in Iraq and Afghanistan, and an estimated $40 billion in classified and intelligence-agency related programs. With funding for the Department of Homeland Security set to rise by 5% to $30.8 billion, the President has proposed spending an estimated $600 billion on the security of our nation.

CHARLOTTE – Cingular Wireless, the nation’s largest wireless carrier, is investing $210 million in its North Carolina network in 2006, bringing customers even more wireless services, call quality and coverage.

WINSTON-SALEM – The board of directors of BB&T Corporation (NYSE: BBT) today declared the 2006 second quarter dividend of 38 cents per share, an 8.6 percent increase over the 35 cents paid in the second quarter of 2005.

CHARLOTTE – Verizon Wireless announced over $175 million was invested in 2005 to enhance and improve the company's voice and data wireless network across North Carolina, which increases the company's total investment over the past five years to $385 million. The investment included adding and updating cell sites and other technologies such as EV-DO, adding cell sites in a seven county area along the Outer Banks and the Purchase of C Block PCS spectrum in 10 central and eastern North Carolina markets.

RALEIGH – Progress Energy (NYSE: PGN) filed a preliminary proxy with the Securities & Exchange Commission (SEC) that includes two management proposals regarding changes in board governance rules. The preliminary proxy filing was required by the SEC due to the two management proposals. The final proxy will be filed and mailed to shareholders in late March.

RALEIGH – Capital Bank Corporation (Nasdaq: CBKN), the parent company of Capital Bank, announced that its Board of Directors has authorized a stock repurchase program to acquire up to 1,000,000 shares, or approximately 8.5% of 11,734,786 currently outstanding shares of common stock. The program, which is expected to be completed within 24 months, will be dependent upon market conditions and other regulatory approvals, and there is no guarantee as to the exact number of shares to be repurchased by the Company. Repurchases under this program will be made using the Company's own cash resources.