BB&T Equity Income Fund marks five-year anniversary with pair of industry accolades

RALEIGH, N.C., Aug. 24  /PRNewswire-FirstCall/ -- More than five years after its inception on June 30, 2004, the BB&T Equity Income Fund has racked up a return of 5.39 percent. During that same time period, the S&P 500's total return was -2.24 percent.

The fund ranks in the top 1 percent of its large-cap value peer group for three-year and five-year periods based on total return, according to Morningstar. The Equity Income Fund returned -20.56 percent for the one-year period and -1.84 percent for the three-year period.

Past performance does not guarantee future results. The performance data above represents past performance and current returns may be lower or higher.  The investment return and principal value of an investment will fluctuate so  that an investor's shares, when redeemed, may be worth more or less than the original cost. For the most recent month's performance, please visit http://www.bbtfunds.com/.

The gross expense ratio for Class A shares is 1.50 percent. The Fund's adviser has agreed to limit the management fees paid by the Fund for the period from Feb. 1, 2009 through Jan. 31, 2010. Had this waiver not been in effect and if the maximum sales load of 5.75 percent had been deducted, the performance would have been lower. The net expense ratio for Class A is 1.24 percent.

The BB&T Equity Income Fund is part of the BB&T Fund family and is sub-advised by the CHOICE Asset Management group within Scott & Stringfellow under the leadership of Chief Investment Officer George Shipp, CFA. Shipp is based in Scott & Stringfellow's Virginia Beach office.

"Five years ago, we could tell our prospective shareholders that we would attempt to generate above-average returns, which was a goal. The great thing about an anniversary is now we can point to historical performance to reflect how we've performed in the past. Our objective remains to seek capital growth and current income for our shareholders."

The BB&T Equity Income Fund also has earned Morningstar's highest five-star rating based on risk-adjusted return.* The rating reflects Morningstar's assessment of the fund's performance - both return and risk - relative to peer funds, measured on a scale from one to five stars. In its 20-quarter history, the fund has produced positive returns in 14 of those quarters, reflecting the stock-picking discipline of Shipp and his team.

"We begin by limiting inclusion in the BB&T Equity Income Fund portfolio to companies with a dividend yield that exceeds the S&P 500's and has grown consistently over time," Shipp said. "Cash is king, and companies that have a track record of returning a growing stream of cash to their shareholders tend to have excellent business models.

"As we've said before, we can't guarantee future performance, but we will continue to use the same investment approach to manage our clients' money for the next five years - and beyond. We are honored to receive these recognitions for our past performance, yet our focus remains on maximizing our shareholders' future investment returns."

The CHOICE team manages more than $2 billion in client assets, including $740 million in the mutual funds it sub-advises for the BB&T Funds. In addition to Shipp, the CHOICE Asset Management team includes Farley Shiner, CFA; Griff Jones; Josh Haggerty, CFA; Adam Bergman, CFA; Tripp Boyd and Monica Kidd.

Shipp joined Scott & Stringfellow in 1982. He served for 17 years as a fundamental research analyst covering a variety of industries before spearheading the CHOICE Asset Management initiatives beginning in 1999.

BB&T Asset Management Inc., a wholly owned subsidiary of BB&T Corporation, serves as investment adviser to the BB&T Funds and is paid a fee for its services. Scott & Stringfellow LLC., member NYSE/SIPC, a wholly owned non-bank subsidiary of BB&T Corporation, serves as sub-advisor to the BB&T Special Opportunities Equity Fund and the BB&T Equity Income Fund and is paid a fee for its services. The BB&T Funds are distributed by BB&T AM Distributors, Inc., which is not affiliated with Branch Banking and Trust Company or its affiliates. Investment counselors are employed by BB&T Investment Services Inc., member FINRA/SIPC, a wholly owned subsidiary of Branch Banking and Trust Company. The funds are not insured by the FDIC or any other government agency.

Not a deposit - Not FDIC insured - Not guaranteed by the bank - Not insured by any government agency - May lose value

Based in Richmond, Va., Scott & Stringfellow LLC provides comprehensive financial guidance and wealth planning. The firm's services are delivered by more than 600 associates - including more than 250 financial advisors -in more than 40 locations throughout Virginia, North Carolina, South Carolina, Georgia, New Jersey and West Virginia. More information about Scott & Stringfellow Inc. is available at http://www.scottstringfellow.com/.

* Past performance does not guarantee future results. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance.

The top 10 percent of funds in each category receive five stars and the next 22.5 percent receive four stars. The next 35 percent receive three stars, the next 22.5 percent receive two stars and the bottom 10 percent receive one star. The overall Morningstar rating is derived from a weighted average of the performance figures associated with its three-, five- and 10-year (if applicable) Morningstar Rating Metrics.

The BB&T Equity Fund received a five-star rating for the overall, three- and five-year periods among 1154, 1154 and 951 Large Value funds, respectively. The Fund also received a Morningstar percentile ranking of 11 percent for one-year, and 1 percent for the three- and five-year period based on total return among 1358, 1154 and 951 Large Value funds, respectively. The highest or most favorable ranking is 1 and the lowest percentile rank is 100. The fund is available in other share classes for which ratings and rankings will vary. All data is as of June 30, 2009.

Mutual Fund investing involves risk including the possible loss of principal. An investor should consider a fund's investment objectives, risks, charges and expenses carefully before investing or sending money. This and other important information about the BB&T Funds can be found in the funds' prospectus. For a prospectus, please call 1-800-228-1872 or visit ww.bbtfunds.com. Please read the prospectus carefully before investing. 

DATASOURCE: BB&T Corporation



CONTACT:  George F. Shipp, Chief Investment Officer, Scott &

Stringfellow, Inc., [phone]; Jeffrey Schappe, Chief Investment

Officer, BB&T Asset Management, [phone]; Jeff Nichols, Vice President,

BB&T Corp. Communications, [phone]



Web Site:  http://www.bbtfunds.com/ 

Copyright