Colonial BancGroup to Expedite Announcement of Second Quarter 2008 Results to July 16, 2008

The Colonial BancGroup, Inc. (NYSE: CNB) will release second quarter 2008 results on Wednesday, July 16, 2008, earlier than previously scheduled. The Company will issue a news release after the market closes on Wednesday, July 16, 2008 with a conference call to follow at 5:00 PM/ET to discuss the results for the second quarter. Individuals are encouraged to listen to the live webcast of the presentation as well as view a slide presentation by visiting Colonials web site at www.colonialbank.com. The webcast will be hosted under Events and Presentations located under the Investor Relations section of the website. To participate in the Q&A session of the conference call, dial (877) 545-1407 or (719) 325-4865 Toll International, (Leader: Lisa Free).

A replay of the conference call will be available beginning at 12:00 PM/ET on July 21, 2008 and ending at midnight on July 26, 2008 by dialing (888) 203-1112 (Domestic Toll-Free) or (719) 457-0820 (Toll International). The passcode for both numbers is 2881497.

Colonial BancGroups common stock is traded on the New York Stock Exchange under the symbol CNB and is located online at www.colonialbank.com. In most newspapers, the stock is listed as ColBgp.

Contacts:

The Colonial BancGroup, Inc.
Lisa Free, 334-676-5105

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