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Trusco Capital President to Step Down

Nov 18, 2005

Douglas S. Phillips, President and Chief Investment Officer of Trusco Capital Management, Inc., has announced his decision to retire from Trusco effective December 31, 2005, after nearly 32 years of service.

"Over a long and successful career at the firm, Doug Phillips has been instrumental in building our asset management capabilities and track record. He has overseen our growth from less than $2 billion in assets under management to nearly $70 billion today. We are thankful for Doug's service, and wish him the best in a well-deserved retirement," noted David H. Eidson, Trusco Capital Management's Chairman.

Mr. Phillips began his career in the Trust Department of Trust Company Bank. He was one of the founders of Trusco Capital Management, when it was incorporated in 1984. He assumed his current role in 1988.

"I concluded that it was time to spend more time with my family and achieve a better balance between my professional and personal lives. I have enjoyed my time with the company, especially growing Trusco Capital into a first rate institutional money management firm," said Doug Phillips.

Mr. Eidson noted that Mr. Phillips' investment management responsibilities are being assumed within Trusco's existing executive team. Bob Rhodes, Director of Equity Management, will chair the Investment Policy Group. Betty Pola, Director of Equity Research, will continue to work with Bob Rhodes as manager of Trusco's Core/Growth equity discipline.

"It is testimony to Doug Phillips' leadership that we have in place experienced investment professionals like Bob and Betty, as well as all our other portfolio managers and research analysts who work hard every day to deliver competitive performance results," said Mr. Eidson.

Trusco Capital Management, Inc. is one of the largest institutional investment management firms in the U.S., with nearly $70 billion in assets under management. The firm provides customized investment management to a growing client base that includes endowments, foundations, corporations, healthcare organizations, municipalities, public funds, associations, insurance companies, labor unions and high net worth individuals. Trusco employs specialists in a wide variety of investment disciplines including liquidity management, fixed income and equity management. In addition, the firm serves as the investment adviser to the STI Classic Mutual Fund family. Trusco Capital Management is an SEC Registered Investment Adviser headquartered in Atlanta, Ga.

SOURCE: Trusco Capital Management, Inc.

CONTACT: Mike McCoy of Trusco Capital Management, Inc., +1-404-588-7230