BURLINGTON, MA, August 21, 2002—Regions Financial Corporation, one of the 25 largest financial services companies in the U.S., is banking significant returns from the company's Cognos business intelligence implementation. Regions is benefiting from faster access to critical business data, dynamic reporting and analysis capabilities, and insight into profitability and performance of operations. Cognos (Nasdaq: COGN; TSX: CSN) is the world leader in business intelligence (BI).

The combination of Cognos reporting and analysis solution provides over 1,500 employees at Regions with dynamic online reports on loans, account volumes, new accounts, and new products. The ability to analyze sales activities and trend information over time has given Regions the ability to maximize their existing Teradata data warehouse investments and deliver unprecedented insight into business operations.

"The scalability and usability of the Cognos solution has enabled Regions to quickly deploy across several business units and to all levels of users," said Ed Solomon, senior vice president, Regions Bank. "Cognos allows Regions to derive maximum value from our existing Teradata data warehouse investment and to achieve the fastest time to results. In fact, our first cube for analysis of our loan system was up and running in just two days."

Branch managers in Regions' retail banking sector use Cognos to reconcile cash balances, measure customer profitability, develop cash and sales reports, and monitor the activity and profitability of online services. Due to the success of Cognos in the retail banking sector, Regions has decided to deploy Cognos to users of other internal departments and is planning future applications for its recently added insurance and investment companies.

"As the world leader in business intelligence, Cognos offers a scalable and powerful solution best suited to meet the complex requirements of the financial services industry," said Dave Laverty, senior vice president, global marketing, Cognos. "Regions Financial Corporation has clearly recognized the strategic value of deploying BI across the enterprise and the ability to better manage corporate performance."

About Regions Financial Corporation:
Regions Financial Corporation, with $44.2 billion in assets, ranks among the 25 largest financial services companies in the nation. Serving customers throughout the South, it provides traditional commercial and retail banking services and other financial services in the fields of investment banking, asset management, trust, mutual funds, securities brokerage, insurance, leasing and mortgage banking. Its banking affiliate, Regions Bank, offers banking services online from its Web site at www.regions.com and from more than 680 banking offices in Alabama, Arkansas, Florida, Georgia, Louisiana, North Carolina, South Carolina, Tennessee and Texas. Regions provides investment and brokerage services from more than 140 offices of Morgan Keegan & Company, Inc., one of the South's largest investment firms. Regions ranks on both the Forbes 500 and the Fortune 500 listing of America's largest companies; its common stock is traded on the New York Stock Exchange under the symbol RF.