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SunTrust Opens Delaware Trust Company

ATLANTA -- SunTrust Bank (NYSE: STI) announced today that it has opened a limited purpose Delaware Trust Co. to provide specialized investment-related services for high net worth clients. Through its new Delaware Trust Co., SunTrust's high net worth clients and their financial advisors will benefit from Delaware's progressive trust laws, which offer a number of advantages for trust beneficiaries and provide trustees the flexibility to manage trust assets in perpetuity for families.

“This expansion of our trust capabilities reflects SunTrust's strategic priority of meeting the unique needs of the wealthy market,” said E. Jenner Wood, executive vice president of Trust and Investment Services for SunTrust.

With $135 billion in total trust assets, SunTrust is a leading provider of trust and investment services. First Vice President and Senior Relationship Officer Jeff Kaczmarczyk, who has more than 10 years of experience in Delaware trust administration, has been hired to oversee the Delaware Trust Co. from its office in Wilmington. Previous financial service industry experience included administering trust and investment advisory accounts for high net worth clients throughout the country. He received his bachelor of science degree in accounting from University of Delaware, and his master's degree in taxation from Widener University in Pennsylvania. He is a CPA. SunTrust Bank, the nation's 9th largest commercial banking organization, provides a wide range of financial services to meet the needs of its growing customer base in Alabama, Florida, Georgia, Maryland, Tennessee, Virginia, and the District of Columbia. Its primary businesses include traditional deposit and credit services as well as trust and investment services. Through various subsidiaries, the company provides credit cards, mortgage banking, insurance, data processing and information services, brokerage and investment services.