SunTrust Attains Preferred Lender Status for the U.S. Small Business Administration´s Export Working Capital Program

ATLANTA, Mar. 27 /PRNewswire/ --

ATLANTA, March 27 /PRNewswire-FirstCall/ -- SunTrust Banks, Inc. announced today that it has attained Preferred Lender status with the U.S. Small Business Administration for its Export Working Capital Program (EWCP). According to the SBA, SunTrust is the first major financial institution to obtain preferred lender status under the program's new procedures.

Established under the authority of the Small Business Act, the EWCP helps provide access to working capital financing for small businesses seeking to sell their products and services to overseas markets.

"In today's global marketplace, access to markets and potential customers overseas is vital to the growth and continuing success of small businesses throughout the United States," said Susanne Keough, Managing Director of the Global Trade Solutions department of SunTrust Bank. "We are delighted to be a preferred lender for the Export Working Capital Program. This designation affords us increased accessibility to this additional source of capital to help existing and new clients grow their international sales and allows us to fulfill our mission of helping our clients prosper."

The Preferred Lenders Program (PLP) is another step in SBA's process of "streamlining" the procedures necessary to provide financial assistance to the small business community. Under PLP, the SBA delegates loan approval, closing, and most servicing and liquidation authority and responsibility to these carefully selected lenders.

"The pivotal role of exports to our economy has become even more relevant in the current economic climate, therefore, it is imperative that we do all we can to encourage small businesses to go global," said SBA Administrator Steve Preston. By extending EWCP authority to our PLP lenders we are facilitating much needed access to capital to small exporters. We are very pleased that SunTrust has joined us in this effort and look forward to working with them."

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 December 31, 2007, SunTrust had total assets of $179.6 billion and total deposits of $117.8 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.

Additional information about SunTrust's international services can be found at the "International" link found on the "Corporate and Institutional" section of www.suntrust.com

Additional information about SBA's programs and services is available at SBA's Web site: www.sba.gov