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SunTrust to Expand in Charleston, South Carolina

Move Reflects Company's Focus on High-Growth Banking Markets

PRNewswire-FirstCall
ATLANTA
Nov 16, 2005

SunTrust Banks, Inc. today announced it will significantly expand its presence in the high-growth Charleston, S.C. market. In line with those plans, SunTrust said it is in the process of filing regulatory applications with its regulators that will allow the company to add retail branches offering a full range of consumer, commercial and investment-related services to customers in the area. SunTrust currently operates a mortgage banking office in downtown Charleston as well as a commercial real estate financing office on nearby Daniel Island.

Preliminary plans are to open 16 branches over the next three years and employ more than 100 people in the greater Charleston area including Mount Pleasant and Summerville. SunTrust's first branches in the area are projected to open in the second quarter of 2006.

"Expanding into Charleston is consistent with our long-standing focus on pursuing growth opportunities in economically vibrant, demographically strong markets that complement our current footprint," said Bill Reed, SunTrust Vice Chairman. "We look forward to being a larger part of the Charleston community, and offering consumers and businesses an alternative when making their banking and financial decisions."

Enhancing SunTrust's already strong presence in other parts of the state, SunTrust Bank, Charleston, will be a part of SunTrust's Carolinas Banking Group which encompasses the company's more than 240 branches in North Carolina and South Carolina. SunTrust currently operates 60 branches in South Carolina including four in the Hilton Head Island area.

According to Chuck Perry, chairman, president and CEO of SunTrust's South Carolina region, headquarters for local operations will be the current location of the SunTrust Mortgage office at 145 King Street in Charleston. That location will be expanded to include a branch and other office space. Precise locations and timing of other branch construction will be influenced by local real estate availability.

SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of September 30, 2005, SunTrust had total assets of $172.4 billion and total deposits of $113.7 billion. The Company operates an extensive branch and ATM network throughout the high- growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company 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, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com

SOURCE: SunTrust Banks, Inc.

CONTACT: Media, Mike McCoy, +1-404-588-7230, or Investors, Greg Ketron,
+1-404-827-6714, both of SunTrust Banks, Inc.


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