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SunTrust Bank Lowers Prime Rate

Nov 7, 2002

SunTrust Bank announced today it has lowered its prime lending rate to 4.25% from 4.75%, effective Thursday, November 7. The prime rate is a benchmark used to set interest rates on various forms of corporate and consumer credit. The prime rate last changed on December 12, 2001.

SunTrust Banks, Inc. , headquartered in Atlanta, Georgia, is one of the nation's largest commercial banking organizations. As of September 30, 2002, SunTrust had total assets of $112.4 billion and total deposits of $73.8 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 .

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SOURCE: SunTrust Banks, Inc.

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