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Mayden to Oversee SunTrust's Merchant Banking Activities

PRNewswire
NASHVILLE, Tenn.
Dec 10, 2001

SunTrust Banks, Inc. today announced the appointment of Martin Ted Mayden to oversee SunTrust's Merchant Banking and Principal Investing activities including SunTrust Equity Partners and Union Street Partners. In this role, Mayden will be responsible for managing the units' investment activities and expanding SunTrust's direct, indirect and fund-of-funds investing activities.

"Bringing these units together under the oversight of one executive allows us to streamline the businesses and focus on providing high-quality service to our clients," said Charles Shufeldt, executive vice president of SunTrust's Corporate and Investment Banking line of business. "Ted's combination of industry experience and familiarity with the SunTrust organization uniquely qualifies him to oversee these units and expand SunTrust's merchant banking services."

Mayden joined SunTrust in 1998 as managing director in the Debt Capital Markets Division of SunTrust Equitable Securities (which is now SunTrust Robinson Humphrey Capital Markets) and most recently served as head of its Equity Capital Markets Division. Prior to joining SunTrust, he worked at Merrill Lynch and BT Alex. Brown. He will maintain his office in Nashville.

With offices in Nashville and Atlanta, SunTrust's Merchant Banking/Principal Investing area has more than $300 million in investments and commitments outstanding. Its mission is to invest capital in companies aligned with SunTrust's corporate and investment banking industry specialties including: agri-food, apparel and textile, business and technology services, consumer, diversified growth, energy, financial services, food and beverage, healthcare, media and communications, technology and telecommunications.

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/ .

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SOURCE: SunTrust Banks, Inc.

Contact: Mike McCoy of SunTrust Banks, Inc., +1-404-588-7230