First United Corporation Shareholder Information

Market Summary of Stock
First United Corporation’s common stock trades on The Nasdaq Stock Market^SM under the symbol FUNC. The following summary reflects the high and low trades during the period for the years ended December 31, 2003 and 2002.

Ferris, Baker Watts, Inc.
12 North Liberty Street
Cumberland, MD 21502
(301) 724-7161
(800) 776-0629

Ferris, Baker Watts, Inc.
113 South Potomac Street
Hagerstown, MD 21740
(301) 733-7125
(800) 344-4413

Scott & Stringfellow, Inc.
909 East Main Street
Richmond, VA 23219
(804) 782-8819
(800) 552-7757

Cash Dividends
Cash dividends were paid by the Corporation on the dates indicated in the following manner:



If you need assistance in any of the following areas:

change in registration

reporting lost certificates

nonreceipt or loss of dividend checks

information on the dividend reinvestment plan

Please contact our transfer agent at:
  Mellon Investor Services, LLC
  85 Challenger Road,
  Ridgefield Park, NJ 07660
  www.mellon-investor.com
  First United’s Direct Line:
  1-800-953-2593

S.E.C. Form 10-K
The Corporation files an annual report on Form 10-K with the Securities and Exchange Commission. A copy of this statement will be sent without charge to any shareholder who requests in writing to:
  Robert W. Kurtz, Secretary
  First United Corporation
  c/o First United Bank & Trust
  P.O. Box 9
  Oakland, MD 21550-0009

Shareholders’ Meeting
The annual shareholders’ meeting will be held on:
  Tuesday, April 27, 2004, 3:00 p.m.
  Wisp at Deep Creek
  Mountain Resort
  McHenry, MD 21541