SunTrust Completes National Commerce Financial Corporation Merger

ATLANTA, GA – SunTrust Banks, Inc. (NYSE: STI) today announced the completion of its merger with National Commerce Financial Corporation (NCF), creating a combined financial services enterprise with combined assets of more than $152 billion, deposits of $101 billion, and more than 1,700 branches in fast-growing Southeast and Mid-Atlantic markets.

“Today marks an important legal and organizational milestone as we continue the work of combining our two companies,” said L. Phillip Humann, SunTrust chairman, president and CEO. “But the closing of this transaction does not signal any immediate changes for the vast majority of NCF customers; they will continue to do business as they always have, with the same people they know and trust.” Mr. Humann noted that conversion of NCF accounts, and the introduction of the SunTrust “brand” into former NCF markets, will not take place until 2005 and will be preceded by “extensive and timely customer communication.”