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SunTrust Banks, Inc. Announces Formation of SunTrust R-H Advisors

New Division Will Provide M & A Advice to Commercial Clients

Sep 19, 2001

SunTrust Banks, Inc. announced today the formation of SunTrust R-H Advisors, a new organizational unit which will provide dedicated merger and acquisition advisory services to SunTrust's commercial clients. SunTrust defines commercial clients as businesses with up to $250 million in annual sales.

"SunTrust R-H Advisors will provide the type of professional, high-level M & A advisory services to middle-market corporations which we have long provided our larger corporate customers," said SunTrust Vice Chairman John Clay.

SunTrust R-H Advisors will provide traditional merger and acquisition services such as acquisition and divestiture advisory work, business valuations and fairness opinions. The division will also assist business owners in evaluating other strategic alternatives including ESOPs, management buyouts and recapitalizations. In doing so, it will work closely with the Equity Capital markets division of SunTrust Robinson-Humphrey to ensure clients are matched with the appropriate industry expertise and research where applicable.

"SunTrust's commercial line of business has enjoyed unprecedented capital markets business in 2001. SunTrust R-H Advisors will build on this success," said Clay. "M & A activity for middle market commercial businesses is a niche not well-covered by other large financial institutions or investment banks; our competition primarily will be local boutique firms or professionals such as attorneys and accountants."

He added, "This new structure will enable SunTrust commercial bankers to actively solicit advisory engagements supported by a group dedicated to executing transactions in the commercial market."

Philip Marshall will head SunTrust R-H Advisors. Prior to establishing this division, Marshall was managing director for SunTrust's Debt Capital Markets Origination group in Florida. Previously, he was responsible for SunTrust's Loan Syndication group and managed SunTrust's Aircraft Leveraged Lease Financing efforts. He began his career as a corporate banker with SunTrust. He received his MBA in Finance from the Wharton School of the University of Pennsylvania and his BS in Agricultural Economics from the University of Florida.

SunTrust R-H Advisors is a division of SunTrust Capital Markets, Inc., which was formed earlier this year when SunTrust bought the institutional business of the Robinson-Humphrey, LLC from Citigroup's Salomon Smith Barney.

SunTrust Banks, Inc., headquartered in Atlanta, Georgia, is the nation's ninth-largest commercial banking organization. As of June 30, 2001, SunTrust had total assets of $100.8 billion and total deposits of $63.3 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. SunTrust's Internet address is


SOURCE: SunTrust Banks, Inc.

Contact: Carolyn B. Gosselin of SunTrust Banks, +1-404-588-8677