PARKERSBURG, WV--United Bankshares, Inc. (NASDAQ: UBSI) today announced that the board of directors declared a first quarter dividend of 25¢ per share for shareholders of record as of March 14, 2003. This is a 9% increase over the 23¢ paid in the first quarter of 2002.

The dividend payout of approximately $10.5 million on 41.9 million shares is payable April 1, 2003. The year 2003 is expected to be the 30th consecutive year of dividend increases to United shareholders. The annualized 2003 dividend of $1.00 equates to a yield of approximately 3.5% based on recent UBSI market prices.

United previously announced record earnings for the year 2002. Fourth quarter earnings were $22.6 million or 53¢ per share while earnings for the year 2002 were $88.9 million or $2.06 per share. Forecasts for 2003 are excellent. Analysts have projected another record earnings year for United.

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