MassMutual to Acquire The First Mercantile Trust Company From SunTrust Banks, Inc.

SPRINGFIELD, Mass., Feb. 28 /PRNewswire/ -- Massachusetts Mutual Life 

Insurance Company (MassMutual) today announced an agreement to purchase The

First Mercantile Trust Company from SunTrust Banks, Inc. (NYSE: STI).

Headquartered in Memphis, Tennessee, First Mercantile provides retirement 

plan recordkeeping and investment management services nationally to more than

3,100 plans with a total of approximately 140,000 participants. With nearly

$5 billion in assets under management as of Dec. 31, 2007, First Mercantile's

operations will add complementary products and further scale to MassMutual's

existing $40 billion retirement plan business.

"With an extensive distribution network that includes a strong base of 

registered investment advisors, broad and complementary product offerings, and

tradition of working closely with clients to offer premier retirement services

programs, First Mercantile makes an excellent strategic fit for MassMutual's

Retirement Services business," said Elaine A. Sarsynski, Executive Vice

President of MassMutual's Retirement Services Division. "This acquisition is

an important strategic step forward as we continue to build momentum in the

marketplace."

Ms. Sarsynski added that collective trusts offered by First Mercantile 

represent an outstanding opportunity for MassMutual in the important

institutional investment market landscape.

First Mercantile will retain its headquarters location. The company's 

current management team, including President Alan Dunaway and Chief Operating

Officer James Pratt, will remain with the business and retain ongoing

responsibility for First Mercantile's daily operations.

The planned purchase by MassMutual is subject to regulatory approvals and 

is expected to close early in the second quarter of 2008. "We look forward to

completing this transaction and welcoming the First Mercantile management team

and employees into the MassMutual Financial Group family of companies," Ms.

Sarsynski said.

First Mercantile provides retirement plans and products to individuals and 

businesses across the U.S., focusing on the market for plans with $1 million

to $20 million in assets and, in general, 50 to 250 employees. The company

also serves as trustee and fiduciary to more than 180 collective investment

trusts.

"MassMutual is a leader in financial services, not only from a products 

and services perspective, but in its visionary approach to the retirement

services marketplace. As the newest member of the MassMutual family, we are

excited about the opportunities for growth here at First Mercantile and for

our valued distribution relationships," Mr. Dunaway stated.

With more than 125 employees, First Mercantile delivers its product to the 

retail marketplace through investment consultants, brokerage firms, trust

companies and financial institutions.

"This transaction streamlines our retirement product offerings consistent 

with our ongoing commitment to efficiently provide one-stop shopping for

bundled retirement services," said David Eidson, Executive Vice President of

SunTrust Banks, Inc. "First Mercantile has a very attractive, unbundled

product sold through independent financial consultants. Their product

offering and delivery channel are clearly aligned with MassMutual's long term

strategic objectives, so this is a very positive transaction for all parties

involved."

Terms of the transaction were not disclosed.

About SunTrust Banks, Inc.

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.