SunTrust Banks Announces Consent Solicitation for the Holders of its 6% Subordinated Notes due 2026

SunTrust Banks, Inc.

announced today that it has commenced a consent solicitation from holders of record at 5:00 p.m., New York City time, on September 9, 2011, of its 6% Subordinated Notes due 2026 to terminate each of four replacement capital covenants executed by the Company in connection with various hybrid securities offerings. The proposed termination of the Replacement Capital Covenants requires, among other conditions, the instruction to consent of the holders of at least a majority in aggregate principal amount of the Notes outstanding. The complete terms and conditions of the Consent Solicitation are as set forth in SunTrust's Consent Solicitation Statement dated September 12, 2011, and the related Letter of Consent, to be distributed to holders of the Notes for their consideration. Holders are urged to read the Solicitation Documents carefully.