28th Consecutive Year of
Dividend Increases for United Bankshares

The Board of Directors of United Bankshares, Inc. (NASDAQ: UBSI) today declared a fourth quarter cash dividend of 23¢ per share for shareholders of record as of December 14, 2001. This dividend is 10% higher than the 21¢ paid in the fourth quarter of 2000. Dividends per share of 91¢ for 2001 represents an 8% increase over the 84¢ per share paid for 2000.

The dividend payout of approximately $9.4 million on 41.0 million shares is payable January 2, 2002. The year 2001 is the 28th consecutive year of dividend increases to United shareholders. The annualized fourth quarter 2001 dividend of 92¢ equates to a yield of approximately 3.4% based on recent UBSI market prices. United's current stock price has increased approximately 28% since December 31, 2000.

United previously reported record third quarter earnings per share for 2001 of 48¢ or $19.8 million net profit compared to 44¢ or $18.6 million earned for the same period in 2000, an increase of 9%. Record earnings for the first nine months of 2001 of $1.41 per share or $58.9 million also grew 9% over the $1.29 per share or $54.7 million earned during the first nine months of 2000.

United has 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 Northern 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".