ATLANTA, June 29 /PRNewswire-FirstCall/ -- SunTrust Banks, Inc. (NYSE: STI) today announced the final results of its previously announced cash tender offer (the 'Tender Offer') to purchase up to $750 million aggregate liquidation preference or amount of the issued and outstanding Preferred Depositary Shares, Normal PPS, SunTrust Capital VIII Preferred Securities, SunTrust Capital I Preferred Securities and SunTrust Capital III Preferred Securities (collectively, the 'Securities'). All capitalized terms used but not defined in this press release shall have the meanings ascribed to them in the Company's Offer to Purchase, dated June 1, 2009, as supplemented by the Supplement to Offer to Purchase, dated June 15, 2009 (collectively, the 'Offer to Purchase').

The Tender Offer expired at 11:59 p.m., New York City time, on Friday, June 26, 2009 (the 'Expiration Date'). As of the Expiration Date, the following aggregate liquidation preference or amount of the Securities were validly tendered for purchase: $314,227,600 aggregate liquidation preference of Preferred Depositary Shares; $450,800,000 aggregate liquidation amount of Normal PPS; $177,326,000 aggregate liquidation amount of SunTrust Capital VIII Preferred Securities; $35,475,000 aggregate liquidation amount of SunTrust Capital I Preferred Securities; and $49,602,000 aggregate liquidation amount of SunTrust Capital III Preferred Securities. The Company has accepted for purchase all of the Preferred Depositary Shares validly tendered and not validly withdrawn, and has accepted $374,920,000 aggregate principal amount of the Normal PPS tendered in the offer and $60,815,000 aggregate principal amount of the SunTrust Capital VIII Preferred Securities tendered in the offer. The pro ration factor for Normal PPS tendered in the offer will be .831854 and the pro ration factor for SunTrust Capital VIII Preferred Securities will be .343167. Because of the Maximum Tender Amount of $750,000,000 the Company has not accepted for purchase any of the tendered SunTrust Capital I Preferred Securities or SunTrust Capital III Preferred Securities. The Company's acceptance of these Securities will result in an aggregate purchase price of approximately $525,000,000, plus accrued and unpaid dividends or distributions on the Securities so accepted through June 30, 2009.