The Colonial BancGroup, Inc. (NYSE:CNB) is recognized as one of the 18 banking institutions in Forbes Magazine's recently released Platinum 400 list that identifies the best publicly traded companies in America.

The publication screened more than 1,000 corporations with $1 billion or more in revenue and used metrics such as latest 12-month and five-year stock market returns, sales and earnings-per-share growth and debt-to-capital ratios to create the prestigious listing. Also, determining factors were measurements based on management skill including forecasts for long term growth, as well as performance in the areas of accounting and corporate governance.

Upon receiving word that Colonial had been selected for inclusion in the Forbes list, Robert E. Lowder, Chairman and CEO commented, ?We are proud to be associated with such a fine group of companies. Forbes included only 18 banks in the United States in its selection, and I know that our shareholders and employees will be pleased at this recognition of their hard work and dedication.?

The Platinum 400 list, which was inaugurated in 1999, recognizes companies in 26 industries, including: Aerospace & Defense, Banking, Business Services & Supplies, Capital Goods, Chemicals, Conglomerates, Construction, Consumer Durables, Diversified Financials, Drugs & Biotechnology, Food Drink & Tobacco, Food Markets, Health Care Equipment & Services, Hotels Restaurants & Leisure, Household & Personal Products, Insurance, Materials, Media, Oil & Gas Operations, Retailing, Semiconductors, Software & Services, Technology Hardware & Equip, Telecommunications Services, Transportation and Utilities.

About Colonial BancGroup

The Colonial BancGroup, Inc. is a $22 billion bank holding company based in Montgomery, Alabama operating more than 300 banking offices in Florida, Alabama, Georgia, Nevada and Texas. The company's common stock is traded on the New York Stock Exchange under the symbol CNB and is located online at www.colonialbank.com.