3/10/04

Dina Kanellos, 334/844-2203

AU COLLEGE OF BUSINESS TO HOST AUBURNBANK CHAIR AS VISITING EXECUTIVE

AUBURN -- E.L. Spencer Jr., chairman of AuburnBank, will be the Lowder Visiting Executive in the Auburn University College of Business on Tuesday (March 16).

Spencer will have a full schedule of activities on the Auburn campus, beginning with a morning reception with faculty, staff and students of the College of Business. He will also speak to several classes, be honored at a noon lunch hosted by interim Dean John Jahera and wrap up his visit with a Roundtable Session with MBA students and Executive Society members.

Born in Loachapoka, Spencer grew up in Auburn. He attended Auburn High School and graduated from Auburn in 1952 with a degree in business administration.

After graduation, he was commissioned as an officer in the Air Force through the Air Force ROTC. He was also awarded a Fulbright Scholarship and studied in England in the Oxford University System.

Upon completion of his military service, he entered the family lumber business, E.L. Spencer Lumber Co., in Auburn. His business interests have since expanded to include Spencer Heating & Air Conditioning, Auburn Millwork, the Bow and Arrow Ranch and real estate.

In 1980, Spencer became chairman of the Auburn National Bank (AuburnBank) and was president and CEO of AuburnBank from 1990 until 2001. In 1984, the Auburn National Bancorporation was formed and he became Chairman and CEO of the corporation. He continues to hold the chairmanship of both companies.

Spencer is also chairman of the board of the East Alabama Medical Center.

The Robert and Charlotte Lowder Visiting Executive-in-Residence program provides students and faculty with an opportunity to interact with prominent executives for an open exchange of views on current issues and to gain insight into the business world.

The program is made possible through an endowment by Robert and Charlotte Lowder of Montgomery. Lowder, a 1964 honors graduate of the AU College of Business and a member of the AU Board of Trustees, is CEO of Colonial BancGroup.

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CONTACT: Dina Kanellos, 334/844-2203.