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S & K Famous Brands Chooses SunTrust as Trustee for Employee Plan

Apr 17, 2001

SunTrust Banks, Inc. announced that S & K Famous Brands Menswear, one of the largest publicly held men's clothing stores in the country with over 200 stores in 27 states, has selected SunTrust Retirement Services to administer its $11 million in profit sharing and 401(k) plan assets. SunTrust will administer the plan for over 1,000 participants who self-direct their assets.

Robert E. Knowles, executive vice president at S & K said that the Richmond, Virginia based Corporation made the plan change "because of SunTrust's commitment to educational programs suitable to participants spread across 240 separate locations." Knowles added, "SunTrust used a well- coordinated and thought out team effort in handling the conversion process. They achieved this by understanding our issues and then customizing solutions to address those issues."

SunTrust has been serving pension and corporate retirement needs since 1943. As the one of the largest daily-valued, bundled providers in the Southeast, SunTrust Retirement Services manages more than $24 billion in retirement plan assets. Other products provided by SunTrust Retirement Services include investment management, non-qualified, treasury management, trustee and custodial services.

SunTrust Banks, Inc., headquartered in Atlanta, Georgia, is the nation's ninth-largest commercial banking organization. As of March 31, 2001, SunTrust had total assets of $103.5 billion and total deposits of $65.5 billion. The company operates through an extensive distribution network in Alabama, Florida, Georgia, Maryland, Tennessee, Virginia and the District of Columbia and also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the company provides credit cards, mortgage banking, insurance, brokerage and capital markets services.

SOURCE: SunTrust Banks, Inc.

Contact: Lisa Schultz of SunTrust Banks, Inc., 407-237-6842