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SunTrust Unveils New Financial Planning Unit

Sep 12, 2002

SunTrust Banks, Inc. announced today that it has introduced the SunTrust Financial Planning Group, a highly specialized organizational unit that will provide a comprehensive package of financial planning tools and programs to high net worth clients in conjunction with relationship managers, brokers and other financial services providers within SunTrust.

"In the markets we serve, the SunTrust name is synonymous with premier trust services and estate planning. The addition of a financial planning component is a natural extension of that long-standing expertise and the latest step in building our capabilities to meet the needs of high net worth clients," said Bill Rogers, Executive Vice President of Private Client Services at SunTrust. "Based on client feedback, it is being integrated as a central element in our overall wealth management strategy." Mr. Rogers noted that all SunTrust relationship managers who serve the wealthy and affluent markets are now required to have a proficiency in financial planning.

The SunTrust Financial Planning Group, which consists initially of five senior financial planners with a combined 70 years of financial planning experience, enhances SunTrust's ability to offer comprehensive plans based on a client's overall financial situation, and monitor and adjust them on an ongoing basis.

Creation of the SunTrust Financial Planning Group follows research that indicated significant growth opportunities for SunTrust to be derived from such a commitment. Jim Snave, director of SunTrust Financial Planning Group, noted that SunTrust carefully considered what services would be offered, how and where the services would be provided, what technical and professional expertise would be required, and how best to brand the new initiative.

Services offered include: retirement planning, asset allocation, asset protection, educational planning, long-term care, employee benefits, estate planning, business succession, liquidity planning, tax planning and life insurance.

"Essentially, financial planning is the process of establishing personal and financial goals and creating a way to reach them. That's never been more important than in today's turbulent environment," said Mr. Snave. "Our primary mission is to support SunTrust's relationship managers in their roles as trusted financial advisors for their clients. With that in mind, our planning service is provided with no bias or predisposition toward any particular products or services."

SunTrust Banks, Inc., headquartered in Atlanta, Georgia, is one of the nation's largest commercial banking organizations. As of June 30, 2002, SunTrust had total assets of $108.0 billion and total deposits of $71.7 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: Hugh Suhr of SunTrust Banks, Inc., +1-404-827-6813