Coastal Financial Corporation Sets Date for Special Meeting of Shareholders to Vote on Proposed Merger With BB&T Corporation

  
    
  
  
    
      Coastal Financial Corporation (NASDAQ: CFCP) announced today that it 
      will convene a Special Meeting of Shareholders on April 27, 2007 to vote 
      on its proposed merger with BB&T Corporation (NYSE: BBT). Shareholders 
      of record as of the close of business on March 7, 2007 are entitled to 
      vote at the Special Meeting of Shareholders. Proxy solicitation 
      materials, including a proxy statement-prospectus for the Special 
      Meeting of Shareholders, will be mailed on or about March 26, 2007.
    
    
      Subject to receipt of shareholder and regulatory approvals, Coastal 
      Financial Corporation and BB&T Corporation expect to complete the merger 
      in the second calendar quarter of 2007.
    
    
      This news release contains forward-looking statements as defined by 
      federal securities laws. These statements may address issues that 
      involve significant risks, uncertainties, estimates and assumptions made 
      by management of Coastal Financial Corporation and BB&T Corporation. 
      Actual results could differ materially from current projections and 
      estimates.
    
    
      This news release is not an offer to sell or a solicitation of an 
      offer to buy any securities of BB&T Corporation. Such offer 
      and solicitation shall be made only by means of the proxy 
      statement-prospectus for the Special Meeting of Shareholders. The 
      securities of BB&T Corporation are not federally-insured.
    
    
      This news release is not a proxy solicitation by Coastal Financial 
      Corporation. Such solicitation shall be made only by means of the 
      proxy statement-prospectus for the Special Meeting of Shareholders.