United Bankshares Declares
Third Quarter Dividend

United Bankshares, Inc. (NASDAQ: UBSI) declared a third quarter dividend of 23¢ per share for shareholders of record as of September 14, 2001. This is a 10% increase over the 21¢ paid in the third quarter of 2000. Dividends per share of 68¢ for the first three quarters of 2001 represents an 8% increase over the 63¢ per share paid for the first three quarters of 2000.

The dividend payout of approximately $9.5 million on 41.3 million shares is payable October 1, 2001. The year 2001 will be the 28th consecutive year of dividend increases to United shareholders. The annualized third quarter 2001 dividend equates to 92¢ per share or a yield of approximately 3.4% based on recent UBSI market prices. United's current stock price has increased approximately 31% since December 31, 2000.

United recently signed a definitive merger agreement to acquire Century Bancshares, Inc. of Washington, D.C., with assets of approximately $415 million. The transaction, which is expected to close during the fourth quarter of 2001, will increase United's Virginia franchise to more than $2 billion in assets and will rank United as the ninth largest bank in the Virginia and Washington, D.C. MSA.

United Bankshares stock is traded on the NASDAQ (National Association of Securities Dealers Quotation System) National Market System under the quotation symbol "UBSI".