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SunTrust Enhances Treasury Management Product Line-Up

PRNewswire-FirstCall
ATLANTA
Apr 29, 2004

SunTrust Bank announced today a series of new product and service introductions designed to build upon its strength in providing treasury management services to its commercial and corporate clients.

According to Scott Peterson, managing director of SunTrust Treasury Management Services, SunTrust is making significant investments in its product offering and has aligned its services to help clients take advantage of opportunities presented by the evolving cash management and payments environment.

"All of our product additions and enhancements are priorities identified by our clients as those most critical to running their cash management operations more efficiently and with greater control," said Mr. Peterson. "The technology and services we are introducing move us to industry-leading positions in many cases."

Recent and upcoming enhancements to be introduced over the next few months include:

Online Report Delivery -- uses "push" technology to deliver reports in a variety of formats directly to a client's desktop or treasury workstation, as well as alert clients through wireless notification that their information is available. SunTrust Online Courier's automated delivery service allows clients to select when, where and how they receive their treasury data, including what they receive from other financial institutions.

Secure Online Data Transmission -- allows clients to securely transfer data such as payroll and check issue files online. With Online File Transfer, clients can choose from either a secure ftp or an encrypted browser-based solution that can help mitigate fraud and risk exposure while improving efficiency for clients that send and receive data over the Internet.

Web-based Foreign-Exchange Trading -- allows clients to efficiently conduct international transactions and manage currency risk online through a highly user-friendly interface. Enhanced product functionality includes flexible approval, settlement and reporting capabilities developed as a result of direct client input.

Payroll Card -- SunTrust has partnered with Skylight Financial to offer an alternative to the traditional stored-value card. Employers benefit from a program that helps them reach their direct deposit of payroll participation goals while reducing their risk, as Skylight assumes all of the liability. Account ownership resides with the employee, who can carry the card with them if they leave the company, build a credit history, and disburse funds to family members via sub-accounts.

Purchasing Card -- through a partnership with Works, Inc., SunTrust provides a purchasing card program that includes Payment Manager, an industry- leading payment management tool that offers online, real-time administration and control over organizational spending. Payment Manager introduces enhanced functionality not associated with traditional purchasing card programs, such as the ability to automatically generate a file from a client's finance system to pay vendors by card.

Corporate Card -- an enhanced Corporate Card program that features Card Manager, also built on the Works platform. This advanced card management and administrative tool makes card usage and reporting easier for both cardholder and administrator. SunTrust will also roll out Visa Extras for Corporate Card, a loyalty rewards program for commercial clients and their employees. The program allows cardholders to accrue points at a rate that far exceeds traditional programs, allowing them to earn rewards such as travel and electronics even faster.

Check 21 Readiness -- leverages SunTrust's 2002 investment in Viewpointe, a leading image and archival service, to allow partner banks to begin sharing check images in advance of Check 21's official implementation in October 2004. SunTrust Treasury Management clients currently have access to a seven-year archive of check images, deposit tickets and deposited items through SunTrust Online Treasury Manager. The images are fully integrated with balance reporting, stop payment, positive pay and check inquiry services.

Lockbox Image Capture -- provides clients the payment information they need to make decisions more quickly. With technological enhancements such as upfront capture of check and document images, clients benefit from real-time access to lockbox items as they are processed.

SunTrust Banks, Inc., headquartered in Atlanta, Georgia, is one of the nation's largest commercial banking organizations. As of March 31, 2004 SunTrust had total assets of $125.2 billion and total deposits of $80.9 billion. The company operates through an extensive distribution network primarily in 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 .

SOURCE: SunTrust Banks, Inc.

CONTACT: Hugh Suhr of SunTrust Banks, Inc., +1-404-827-6813