The Colonial BancGroup, Inc. (NYSE: CNB) Chairman, CEO and President, Robert E. Lowder, announced that at its meeting today, the board of directors declared a regular quarterly dividend of $0.1875 per share of Colonial BancGroup common stock. The dividend will be paid on August 10, 2007 to shareholders of record as of the close of business on July 27, 2007.

Colonial BancGroup operates 321 branches in Florida, Alabama, Georgia, Nevada and Texas with more than $23 billion in assets. The Company's 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.

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