David J.A. Carolina First Bank, the largest South
Carolina-based commercial bank, operates in North Carolina, South Carolina and
on the Internet under the brand name, Bank CaroLine.epinet .cfm/newsroom_describing_epi

The Economic Policy Institute is an independent, nonprofit,
nonpartisan research institute - or "think tank" - that researches the
impact of economic trends and policies on working people in the United
States and around the world.

analyzes capita

newscom. With her financial
background , she brings a wealth of experience to our Company.

General Information
The South Financial Group is a financial services company, headquartered
in Greenville, South Carolina.

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newscom.com .

Wolff, New York University economics
professor, EPI research associate

Christian Weller, Center for American Progress senior
economist, EPI research associate

WHAT: News Conference: Social Security - The Chief Factor in
Improved Retirement Wealth

WHERE: National Press Club, Lisagor Room, 529 14th St.

decades brings

independent.org , specializes in
scholarly research, publications and communications on issues of
development worldwide.
Founded in 1987, John Templeton Foundation annually provides more
than $60 billion in funding on behalf of work in human sciences and
character development , science and theology research, as well as free
enterprise programs and awards worldwide. (Nasdaq: TSFG) recently elected Darla Moore to the
corporate board. It operates through 166 branch offices in
Florida, North Carolina, and South Carolina and at March 31, 2005 had $14.org/docs/news/200505 -weller_wolff-pr.

palmetto watchdog

Whittle, Jr. Mercantile Bank operates
in Florida, including in its largest banking markets.

measured partisan

Moore is a partner in Rainwater, Inc. TSFG focuses on fast-growing banking markets in the
Southeast and concentrates its growth in metropolitan statistical areas.

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, one of the nation's
largest private investment firms.
In a new research study to be released Wednesday by the Economic
Policy Institute, economists Edward N.m.pdf
Then enter (case sensitive)

Username: media
Password: advance

JOURNALISTS: To receive a complimentary hard copy of the report,
contact EPI's communications department at
(202) 775-8810 or news@epinet.

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Philanthropy Writers/Business Editors

CONSHOHOCKEN, Pa. "She is one of
South Carolina's most prominent citizens and has been the driver behind a
number of critical initiatives to improve the State. She will be a
tremendous asset to our corporate board of directors."
Moore serves on the boards of the University of South Carolina and New
York University Medical School and Hospital.7
billion in assets.

partisan responsibility

"Nearly 200 years after the industrial revolution, it is a tragic
fact and demonstrably unnecessary that half the world 's population is
living in abject poverty and misery," he said, "and yet there already
exists a wealth of both science and practical examples of the kinds of
solutions that would end world poverty .org/enterprisesolutions

capita analyzes

The John Templeton Foundation actively supports research and
programs that encourage a greater understanding of the free enterprise
system. The authors of
"Retirement Income: The Crucial Role of Social Security" will discuss
the report's findings and implications in the current Social Security
debate., NW,
Washington DC.epinet .

advocating brings

wesleyan capita

C. The South Financial Group's common stock trades on the
Nasdaq National Market under the symbol TSFG.

Business Editors/Government Writers

WASHINGTON----For the typical
American nearing retirement age, the growth of traditional Social
Security - not better saving or the stock market - has been the
biggest contributor to secure retirement wealth.cfm/newsroom_index

For how to describe EPI, go to:
http://www.

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A graduate of the University of South Carolina, Moore
holds an M. from George Washington University, on whose board she has also
served.thesouthgroup.

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Press releases along with
additional information may also be found at The South Financial Group's
website: http://www.

WHO: Edward N.

replication accountable

templeton. The University of South
Carolina's Business School is named in her honor, the only major business
school named for a woman.

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B. The authors find this improvement is
largely due to Social Security.

EMBARGOED (password protected ) report and press release: To review the
release, which links to the report, copy and paste this link:
http://epi.

carfree accountable

The Institute's award-winning proposal is for a project to create
a new "Center for Global Prosperity," under the leadership of Alvaro
Vargas Llosa, author of Liberty of Latin America, to examine how
market-based institutions are helping to reduce poverty in Latin
America and elsewhere.
"Retirement Income: The Crucial Role of Social Security" finds
that between 1989 and 2001 these households also became a little more
likely to reach two important benchmarks: the ability to replace at
least 75 percent of pre-retirement income and to count on income at
least twice the poverty rate.

advocating increases

He indicated that the Center's scope would
include case studies on how and why central economic planning has
failed as well as how enterprise-based solutions have succeeded in
advancing the economic welfare of the poor. The Foundation's "What Works in Enterprise-Based Solutions to
Poverty" program is a new initiative created to promote public
understanding of how entrepreneurship and market reforms can alleviate
poverty and accelerate its disappearance in areas of the world where
it has been most oppressive and endemic., The directors of The
South Financial Group, Inc. This is especially
true for women and minorities.

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Theroux, founder and president of The Independent
Institute , noted that the critical role of entrepreneurs has been
largely ignored in analyses of approaches to eliminating poverty in
developing countries. She is also founder and chair of the
Palmetto Institute, a nonprofit think tank aimed at bolstering per capita
income in South Carolina. Moore was appointed to the President of the United
States' education transition team, and has served on numerous boards including
Hospital Corp. She
was a Managing Director of Chemical Bank and now serves on the National
Advisory Board of JP Morgan. In recognition of her career in the financial
arena, she became the first woman profiled on the cover of Fortune Magazine in
its 60 year history , and was named one of its Top 50 Most Powerful Women in
American Business. See below for details on the event.

501 constitutions

----The Independent
Institute has been selected as one of three recipients of $500,000 in
John Templeton Foundation's "What Works in Enterprise-Based Solutions
to Poverty" competition .
The Independent Institute, www.

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com/cgi-bin/prnh/20000424/TSFGLOGO )
"We are extremely pleased that Darla Moore has agreed to join our Board,"
stated Mack I.

WHEN: Wednesday, May 25, 2005 at 10 a.org/content.

policy indexing

com/cgi-bin/prnh/20050523/CLM058 )
(Logo: http://www. Wolff and Christian Weller
found that households headed by someone between the ages of 56 and 64
and with incomes in the middle 60 percent of the income spectrum had
three times as much Social Security wealth as private pension wealth
to sustain them in retirement.org

For more on current EPI releases and to sign up to receive
releases on your beat, visit our online Newsroom at:
http: //www.org/content.

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(Photo: http://www.
EPI invites you to a news conference at the National Press Club,
Lisagor Room, on Wednesday, May 25 at 10:00 a.

priorities partisan

For more information:
www.

The South Financial Group Appoints Darla Moore as a Director

of America, Martha Stewart Living Omnimedia and MPS Group. TSFG
operates two subsidiary banks. CIO magazine recognized
The South Financial Group among its "Agile 100" companies in information
technology for 2004.

EPI NEWS CONFERENCE: Social Security 's Importance in Retirement Wealth; For Washington DC Journalists: 10 AM News Conference National Press Building Lisagor

m.

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Prominent Oakland Think Tank Wins John Templeton Foundation Award For ''What Works in Enterprise-Based Solutions to Poverty''

"
The new Center for Global Prosperity will focus on redefining and
redirecting public debate toward ending poverty as we know it today,
he said. GREENVILLE, S., CEO of The South Financial Group.

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