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BB&T releases results of National Penn merger consideration election

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BB&T releases results of National Penn merger consideration election

on April 6disclosed the prorated results of National Penn Bancshares Inc. shareholders' mergerconsideration election.

Those who votedin favor of cash will see approximately 39.58% of their National Penn sharesconverted into $13.00 per share, without interest. Their remaining shares willeach be converted into 0.3206 of a BB&T share, plus cash in lieu offractional shares, based on a price of $33.47 per BB&T share.

Shareholderswho either voted to receive stock or did not make a valid election at all willreceive the stock consideration. The terms of the deal called for70% of the total consideration to be paid in stock and 30% to be paid in cash.

TheBB&T-National Penn merger closed April 1.