Morgan Real Estate Announces Regions Bank for Cooper City Development

Contact Information:
Trey Morgan
Morgan Real Estate, Inc.
954-563-8600
954-563-9566
tmorgan@flaprop.com

COOPER CITY, Florida (January 31, 2005) MORGAN REAL ESTATE, INC., as agent for Flamingo Plaza, Ltd., is pleased to announce the lease signing of Regions Bank at its Flamingo Plaza shopping center, located at the corner of Flamingo Road and Griffin Road in Cooper City, Florida. Regions will be constructing an approximate 4,000 square foot branch bank with drive-thru and ATM facilities. The bank will be the final component in the Flamingo Plaza development, which includes a CVS Pharmacy and Wendy's restaurant.

"We look forward to completing the Flamingo Plaza project and are most pleased to be doing so with Regions Bank, one of the top 15 financial service providers in the nation," said George A. Morgan, Jr., president of Morgan Real Estate, Inc. "We believe that the combination of three national tenants, CVS, Wendys, and Regions Bank, satisfies several important community needs."

Regions Bank is expected to open before the end of the year. Wendy's is already open and operating and CVS is expected to open next month.

Morgan Real Estate is a licensed real estate broker, property manager, and commercial developer based in Fort Lauderdale, Florida. The company focuses on neighborhood shopping center and single-tenant retail projects, investment brokerage, and 1031 exchanges. Morgan Real Estate, along with its affiliate Mid-Atlantic Commercial Properties, has several active development projects in Virginia, Tennessee, and Florida.

For more information, please see the Company website at www.flaprop.com.

Regions Financial Corporation (NYSE:RF), headquartered in Birmingham, Ala., is a full-service provider of retail and commercial banking, securities brokerage, mortgage, and insurance products and services. With its merger with former Union Planters Corp. complete, Regions had assets of $84.1 billion as of Dec. 31, 2004, making it one of the nation's Top 15 financial services providers. Regions' banking subsidiaries, Regions Bank and Union Planters Bank, operate some 1,400 offices and a 1,700-ATM network across a 15-state geographic footprint in the South, Midwest and Texas. Its investment and securities brokerage, trust and asset management division, Morgan Keegan & Company Inc., provides services from more than 240 offices. Additional information about the new Regions, which is a member of both the Forbes and Fortune 500 and operates one of the Top 20 mortgage companies in the United States, can be found at www.regions.com.