Barroway Topaz Kessler Meltzer & Check, LLP Announces ERISA Investigation of Colonial BancGroup, Inc. on behalf of 401(k) Plan Participants

RADNOR, Pa., Aug. 26 /PRNewswire/ -- ADVERTISING MATERIAL-- Barroway Topaz Kessler Meltzer & Check, LLP ("BTKMC") has commenced an investigation relating to Colonial BancGroup, Inc. (Pink Sheets: CBCG) ("Colonial" or the "Company") and potential violations of the Employee Retirement Income Security Act of 1974 ("ERISA").

BTKMC's investigation relates to whether Colonial, and other administrators or fiduciaries of the Plan, may have breached their ERISA-mandated fiduciary duties of loyalty and prudence to participants and beneficiaries of the Plan. Pursuant to the ERISA Statute, a plan administrator/fiduciary must manage the assets of the Plan prudently and loyally and may not invest plan assets in Company stock when it was no longer a prudent investment for participants' retirement savings.

If you are or were a participant in the Colonial BancGroup, Inc. 401(k) Plan, and wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to this matter, please contact Barroway Topaz Kessler Meltzer & Check, LLP (Edward Ciolko, Esq. or Tiffany Melvin) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at [e-mail].

Barroway Topaz Kessler Meltzer & Check, LLP is a Pennsylvania law firm, committed to helping employees and retirees protect their retirement savings. If you are or were a participant in the plan, you may retain Barroway Topaz Kessler Meltzer & Check, LLP, retain other counsel, do nothing, or take other steps to protect your rights.

Before making your choice of attorney, you should give this matter careful thought. The selection of an attorney is an important decision. Barroway Topaz Kessler Meltzer & Check, LLP is responsible for the content and dissemination of this notice.

For more information about Barroway Topaz Kessler Meltzer & Check, LLP, please visit http://www.btkmc.com/. ADVERTISING MATERIAL

CONTACT: Barroway Topaz Kessler Meltzer & Check, LLP Edward Ciolko, Esq. Tiffany Melvin Benjamin Eng 280 King of Prussia Road Radnor, PA 19087 1-888-299-7706 (toll free) or 1-610-667-7706 Or by e-mail at [e-mail]

Barroway Topaz Kessler Meltzer & Check, LLP

CONTACT: Edward Ciolko, Esq., Tiffany Melvin or Benjamin Eng, all of
Barroway Topaz Kessler Meltzer & Check, LLP, [phone] (toll free) or
[phone], [e-mail]

Web Site: http://www.btkmc.com/