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STI Classic Funds Named #3 Mutual Fund Family in the Nation

PRNewswire-FirstCall
ATLANTA
Feb 5, 2002

SunTrust Banks' STI Classic Funds was named the number three family of funds in performance for 2001 in Barron's seventh annual mutual fund ranking issue, published February 2, 2002. According to the publication, its ranking process, which evaluated the mutual fund offerings of 87 investment firms, "seeks to capture the performance of an entire firm's product line."

In addition to the overall number three ranking, STI Classic Funds were cited as number four in performance among domestic funds, number five among balanced funds, and number nine in tax-exempt bond fund performance.

"We're pleased that the performance of our family of funds has received such strong recognition from a well-respected financial publication such as Barron's," stated Douglas S. Phillips, CFA, president, chief executive officer and chief investment officer of Trusco Capital Management, Inc., advisor of the STI Classic Funds and SunTrust Banks' investment management subsidiary. "While it is an honor to be recognized for one particular year, we are ever mindful of our long-term goal of seeking to provide long-term, consistent returns for our clients." Phillips also emphasized the importance of having a team of experienced investment professionals and the adherence to a disciplined investment process.

The STI Classic Funds, which were introduced in 1992, now consists of over 28 stock, bond and money market mutual funds and have more than $25 billion in assets under management.

"This ranking helps underscore our commitment to serving all the investment needs of our clients," said Bill Rogers, executive vice president, Private Client Services line of business.

"The market and economic turmoil of the past year emphasized the value of professional money managers in helping investors achieve their objectives and financial goals. We're glad we were able to stand out as one of the best in the industry for our clients even under these challenging conditions."

SunTrust Banks, Inc. , headquartered in Atlanta, Georgia, is one of the nation's largest commercial banking organizations. As of December 31, 2001, SunTrust had total assets of $104.7 billion and total deposits of $67.5 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. SunTrust's Internet address is www.suntrust.com .

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SOURCE: SunTrust Banks, Inc.

Contact: Michael McCoy of SunTrust Banks, +1-404-588-7230