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SunTrust Takes Most Innovative Feature Award

Fraud Inspector, winner of Barlow Research Monarch Innovation Award, helps business owners identify and protect against fraud

PRNewswire-FirstCall
ATLANTA
May 14, 2008

As a result of its ongoing commitment to address the challenges business owners face by delivering innovative and practical solutions, SunTrust Banks, Inc. earned the Barlow Monarch Innovation Award of Most Innovative Feature for Fraud Inspector -- a recent enhancement to SunTrust's Online Cash Manager offering.

Fraud Inspector was specifically designed to address and alleviate small business owner concerns around fraud by helping to identify fraudulent payments against business and personal accounts in a timely manner. With this new feature, SunTrust clients gain the ability to review paid items that have cleared their SunTrust deposit accounts and request items to be returned if suspected fraudulent -- without the paper work and investigation wait time.

The Barlow Monarch Innovation Awards recognize financial institutions that provide the most innovative products to business clients as well as the risk takers who create and promote innovation within their organizations. This was the inaugural year for the awards, and due to SunTrust's out-of-the-box thinking, Fraud Inspector received the first-ever Innovative Feature award.

Financial management consultant and Barlow Innovation Award judge, Ken Parkinson, said one of the things he liked about Fraud Inspector was its timeliness, "It forces a small business owner to look at these items while they are hot, as opposed to 30 or 60 days after the fact, when they scratch their head and wonder what that check was for."

Fraud is increasingly on the minds of small business owners. In fact, results of a recent SunTrust/National Small Business Association (NSBA) survey of small business owners revealed that 84 percent of small business owners are concerned about fraud in connection to their business' finances. And, their concern is growing as three-quarters of those surveyed, stated they are more concerned about fraud now than they were a year ago.

"SunTrust strives to be the bank of choice for businesses," said SunTrust Executive Vice President David Fuller, division head of SunTrust Treasury & Payment Solutions. "In doing so it is important for us to constantly bring the best technology and innovation to our clients to assist them in meeting the challenges of running their business. Fraud Inspector is one of those innovations that we're proud to provide to our clients. Winning this distinguished inaugural award is truly an honor and confirms that we are accomplishing what we set out to do. We will continue to innovate in our clients' best interests."

For more information on protecting businesses from fraud, Online Cash Manager with Fraud Inspector or the SunTrust/NSBA Foil Fraud survey visit www.suntrust.com/foilfraud .

About SunTrust Banks, Inc.

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 March 31, 2008, SunTrust had total assets of $179.0 billion and total deposits of $116.2 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 mortgage banking, insurance, brokerage, investment management, equipment leasing and capital markets services. SunTrust's Internet address is suntrust.com

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SOURCE: SunTrust Banks, Inc.

CONTACT: Hugh Suhr of SunTrust, +1-404-827-6813; or Yona Benstock of
Edelman, +1-404-460-1491, yona.benstock@edelman.com, for SunTrust