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SunTrust Issues $300 Million in Trust Preferred Securities

PRNewswire
ATLANTA
Dec 7, 2001

SunTrust Banks, Inc. today announced it has issued a public offering of $300 million aggregate principal amount of 7.05% trust preferred securities. The proceeds of the transaction will be used for general corporate purposes. The trust preferred securities have a 30-year term and are non-callable for five years.

Salomon Smith Barney and Morgan Stanley & Co. were lead managers for the offering. UBS Warburg, Lehman Brothers, SunTrust Robinson Humphrey and Goldman, Sachs & Co. served as co-managers for the offering. A prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933 may be obtained by contacting:

  Salomon Smith Barney              Morgan Stanley & Co.
  390 Greenwich Street, 4th floor     Incorporated
  New York, NY  10013               1585 Broadway, Floor LB
  Attention:  Timothy Christian     Attention: Domenico Ruscitti
  Telephone: (212) 723-6104         Telephone: 212-761-8570

SunTrust Banks, Inc., headquartered in Atlanta, Georgia, is the nation's ninth-largest commercial banking organization. As of September 30, 2001, SunTrust had total assets of $103.3 billion and total deposits of $63.1 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 http://www.suntrust.com/ .

This press release does not constitute an offer to sell or the solicitation of any offer to buy nor shall there be any sale of these securities in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities law any such state.

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SOURCE: SunTrust Banks, Inc.

Contact: investors, Gary Peacock, +1-404-658-4879, or media, Mike McCoy,
+1-404-588-7230, both of SunTrust Banks, Inc.