WASHINGTON, N.C. First South Bank is pleased to be among
the lenders in North Carolina approved by the USDA to offer this type
financing to qualify individuals . This scholarship
fund allows Asian and Pacific Islander American students the
opportunity to pursue higher education in automotive design and
mechanical engineering.

The Middleby Corporation is a global leader in the foodservice
equipment industry. The company develops, manufactures, markets and
services a broad line of equipment used for cooking and food
preparation in commercial and institutional kitchens and restaurants
throughout the world.

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First South Bank was recognized as one of the top five producing lenders
for USDA guaranteed home loans in North Carolina for the fiscal year 2005
which ran from October 1, 2004 to September 30, 2005.

For More Information Contact:
Bill Wall or Paul Jaber
(252) 946-4178
Website: http://www. Crose is the first Japanese
American to join the national board. "By supporting students who wish to improve their
lives through education, Nissan is doing its part to help the
communities it serves. He has also has received numerous
awards for business excellence and corporate philanthropy throughout
his career. The company's leading equipment brands include
Blodgett(R), Blodgett Combi(R), Blodgett Range(R), CTX(R),
MagiKitch'n(R), Middleby Marshall(R), Nu-Vu(R), Pitco Frialator(R),
Southbend (R), and Toastmaster(R).

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Paul Jaber, Executive Vice President of Mortgage Operations for First
South Bank, stated, "We are pleased that First South Bank has been recognized
as one of the top five producing lenders of USDA guaranteed housing loans in
North Carolina.
Statements contained in this release, which are not historical facts, are
forward-looking statements as defined in the Private Litigation Reform Act of
1995.firstsouthnc.com

"Enriching people's lives is an important part of our work here at
Nissan," said Crose. I am proud of our company's support for APIASF
and look forward to my service on the national board."

About Nissan North America, Inc.middleby.com

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----Nissan North
America, Inc. More information on Nissan in North
America and the complete line of Nissan and Infiniti vehicles can be
found online at www.infiniti.

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Philanthropy Writers/Business Editors/Education Writers/Automotive
Writers

GARDENA, Calif.
"Nissan North America's generous support represents a milestone
for the Asian + Pacific Islander American Scholarship Fund," said
Robert Underwood, APIASF Chairman and a former member of congress.com

About Asian + Pacific Islander American Scholarship Fund

APIASF is the only national organization devoted to providing
scholarships to Asian and Pacific Islander American students and is
currently based in San Francisco.

Business Editors

ELGIN, Ill.
In 2004, Bassoul was a recipient of the prestigious Ernst + Young
Entrepreneur of the Year Award. Middleby's international subsidiary ,
Middleby Worldwide, is a leading exporter and distributor of
foodservice equipment in the global marketplace. Middleby's
international manufacturing subsidiary, Middleby Philippines
Corporation , is a leading supplier of specialty equipment in the Asian
markets.

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, First South Bancorp,
Inc . (Nasdaq: FSBK) (the "Company"), the parent holding company of First South
Bank (the "Bank"), announces that the Bank has been recognized by the United
States Department of Agriculture ("USDA") housing division that guarantees
home loans originated in non-metropolitan areas. The Bank operates through its main office headquartered
in Washington, North Carolina, and has 26 branch offices and a loan production
office located throughout central, eastern, northeastern and southeastern
North Carolina ., (NNA) recently donated more than $27,000 to the Asian +
Pacific Islander American Scholarship Fund (APIASF). This donation also supports Nissan's goal of
promoting education, leadership and diversity among minority youth.

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"No
other automaker has offered to support our national program and we are
delighted that Nissan North America has joined us in supporting the
scholarship needs of Asian and Pacific Islander American students.
In addition to providing a grant to APIASF, Joy Murakami Crose,
vice president and general counsel, NNA, was selected to serve on the
APIASF National Board of Directors. The organization's vision is to see
all Asian and Pacific Islander Americans who wish to pursue higher
education have that opportunity, regardless of their ethnicity,
national origin or financial means.

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First South Bank Recognized as a Top USDA Guaranteed Loan Producer

The specific benefit to borrowers is up to 100% financing
with no private mortgage insurance."
First South Bank has been serving the citizens of eastern North Carolina
since 1902 and offers a variety of financial products and services, including
a Leasing Company and securities brokerage services through an affiliation
with a broker/dealer.

Nissan Forges New Partnership with Asian Scholarship Fund; Nissan Becomes the First Automaker to Support the Asian + Pacific Islander American Scholarship Fund

"
This scholarship fund is the newest addition to Nissan's current
programs with organizations such as the Hispanic Scholarship Fund,
American Indian College Fund and the United Negro College Fund.
The American Business Awards, nicknamed the Stevies(TM), are
national, all-encompassing business awards program honoring great
performances in the workplace. For further information about Middleby, visit
www.

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USDA loans are designed to make a guaranteed mortgage market
for certain qualifying individuals who live in non-metropolitan areas and wish
to purchase a home.

In North America, Nissan's operations include automotive styling,
engineering, consumer and corporate financing, sales and marketing,
distribution and manufacturing.----Selim A.

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Such forward-looking statements are subject to risks and uncertainties
which could cause actual results to differ materially from those currently
anticipated due to a number of factors which include, but are not limited to ,
factors discussed in documents filed by the Company with the Securities and
Exchange Commission from time to time. APIASF is a nonprofit, charitable
organization.

Selim A. Bassoul Named Finalist for 2005 American Business Awards

Bassoul, and
Chief Executive Officer of The Middleby Corporation (NASDAQ:MIDD), has
been selected as a finalist in the Best Turnaround Executive category
in the third annual American Business Awards.