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SunTrust Announces Retail Banking Investments Initiative

PRNewswire-FirstCall
ATLANTA
Dec 19, 2006

SunTrust Banks, Inc. today announced a new retail banking initiative designed to expand its investment product sales capabilities.

The new program, which gets underway in January, will entail a coordinated "cross-business line" effort to identify clients with investment and retirement planning needs, while simultaneously extending the geographic reach of SunTrust's licensed retail banker platform.

Specifically, the initiative will increase the number of investment licenses held by personnel in SunTrust branches to expand the investment products and services available to clients. The existing licensed retail staff currently numbers approximately 1,700. The company anticipates adding more licensed bankers as the initiative moves forward based upon branch-based investment sales opportunities in each geographic market and ongoing results of the program.

"We are constantly analyzing and fine tuning our efforts to help make sure we are adding the most value to our client relationships," said C. Gene Kirby, corporate executive vice president and head of Retail Banking. "By fully leveraging existing resources, tools and personnel across our retail banking footprint, we can better serve our clients, expand relationships and grow revenue by offering more of the investment alternatives and capabilities our clients want."

The Retail Banking Investments initiative will be led by SunTrust veteran Peter Bielan. He most recently served as president of SunTrust Investment Services.

"The significance we are placing on this opportunity is emphasized by the experienced leadership we have tapped for this effort," said Mr. Kirby. "Peter's knowledge of the industry and existing relationships within our organization are a natural fit for helping this initiative realize its full potential."

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, 2006, SunTrust had total assets of $183.1 billion and total deposits of $124.4 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

First Call Analyst:
FCMN Contact: hugh.suhr@suntrust.com

SOURCE: SunTrust Banks, Inc.

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


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