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SunTrust Bank Increases Prime Rate

PRNewswire
ATLANTA
Jul 1, 2004

SunTrust Bank announced today it has increased its prime lending rate to 4.25% from 4.00%, effective Thursday, July 1. 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 June 27, 2003.

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