FOR IMMEDIATE RELEASE
August 7, 2008

$500,000 DONATION FROM FIRST TENNESSEE FOUNDATION PAYING OFF
FOR YOUTH STATEWIDE

In a tough economy, the First Tennessee Foundation is helping the University of Tennessee provide youth statewide with the knowledge and tools needed to tackle financial challenges.

In 2006, the First Tennessee Foundation pledged to donate $50,000 per year for the next 10 years, a total investment of half a million dollars, to the Youth Consumer and Financial Education Programs of the University of Tennessee’s Family & Consumer Sciences Extension.

Through self-reported post-curriculum surveys, the program has reported significant positive results in its first two years.

“An increasing majority of our state’s youth does not have a ‘saving’ mentality. Their families may not be teaching them how to budget, how to save or how to handle money,” said Pam Fansler, president of First Tennessee-Knoxville. “First Tennessee is very pleased that UT financial literacy programs are preparing Tennessee’s youth for financial independence and equipping them with the tools and the knowledge to make wise financial decisions. The First Tennessee Foundation is proud to support this program.”

The donation funds the program coordinator position for the financial literacy programs. The program coordinator prepares curriculum, trains UT extension personnel to implement the program in their counties, presents the curriculum at teacher training conferences and educates students in programs such as 4-H.

The funding also helps supply materials for the program’s in-classroom lessons.

“The results of our financial literacy programs are outstanding,” said Dr. Dena Wise, program coordinator. “Many of the students we work with think debt is a normal way of life in our society. With the help of the First Tennessee Foundation, we’re able to teach these students how to save, budget and spend wisely. Tennessee’s youth can go out into the world with the skills and the confidence to secure sound financial futures.”

Students who have participated in the program have gained practical financial knowledge and skills, as indicated by the following survey results:

• 86.6 percent of participants learned how education can affect the kind of job they can get.
• 82.4 percent of participants felt more strongly that they needed to get a good education.
• 72.7 percent of participants learned how payroll deductions are taken from gross pay.
• 89.7 percent of participants increased their financial management skills overall.
• 83.1 percent of participants learned better how to plan their spending.

And after a three-month follow-up, many students are putting those skills to use:

• 65 percent reported that they had communicated with other family members about financial matters.
• 49.5 percent reported that they had followed a spending plan.
• 58.7 percent reported that they had initiated or increased savings or investments.
• 50.6 percent reported that they had made a change in career or educational goals.
• 55 percent reported that they had made a change in a financial behavior.

The program uses lessons modeled for different grade levels ranging from elementary school through high school. Students are given materials, such as coin banks for elementary school children, to use in interactive personal finance lessons.

With the help of First Tennessee’s donation, the program plans to work with the inner city nonprofit Tribe One to hold a weekly class to help at-risk youth learn about financial management.

About First Tennessee

First Tennessee is the bank brand of First Horizon National Corp. (NYSE:FHN). First Tennessee has the largest consumer and business market share in Tennessee and one of the highest customer retention rates of any bank in the country.

The 9,000 FHN employees provide financial services to individuals and business customers through hundreds of offices located in more than 40 states. The corporation’s three major brands – FTN Financial, First Horizon and First Tennessee – provide customers with a broad range of products and the services including capital markets, one of the nation’s top underwriters of U.S. government agency securities; and mortgage banking, one of nation’s top mortgage originators and recipient of consecutive awards for servicing excellence from Fannie Mae and Freddie Mac.

FHN has been recognized as one of the nation’s best employers by AARP and Working Mother magazines. More information is located at http://www.firsttennessee.com.

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