Company Press Release

ATLANTA, July 16 / -- SunTrust Banks, Inc. (NYSE: STI) today announced the completion of the strategic review of its RidgeWorth Capital Management subsidiary, and that the Company has reached a definitive agreement for Federated Investors, Inc. (Federated) (NYSE: FII) to acquire approximately $17 billion in managed liquidity assets. SunTrust will retain RidgeWorth's long-term asset management business.

Under the agreement, approximately $17 billion in money market mutual fund assets currently managed in nine RidgeWorth money market mutual funds will transition to six existing Federated money market mutual funds with similar investment objectives. The transactions are subject to receipt of the customary approvals and the companies expect the migration to the Federated Funds will be completed by year end. SunTrust will continue to offer a variety of liquidity options and money market solutions for its institutional and individual clients.

"These actions reflect SunTrust's ongoing efforts to ensure its business mix maximizes client satisfaction and shareholder value," said William H. Rogers, Jr., president of SunTrust Banks, Inc. "Federated shares SunTrust's focus on providing outstanding client service, and we are dedicated to ensuring a smooth transition for our managed liquidity clients. Furthermore, we believe RidgeWorth's long-term asset management business offers attractive growth opportunities for us, and we look forward to driving its continued success."

RidgeWorth's strong investment performance has been recognized by the industry and it continues to grow its assets under management. In March, Lipper awarded RidgeWorth its Small Company "Overall" and "Mixed-Asset" Awards for the highest consistent return among qualifying small companies over the three-year period ending December 31, 2009. In addition, at the end of the first quarter, Morningstar had awarded four or five star Overall ratings to 23 of RidgeWorth's 41 I-share class mutual funds. This strong investment performance has enabled RidgeWorth and its boutiques to gather over $10.6 billion in new, non-trust client assets over the last 18 months.

RidgeWorth and its boutiques collectively managed $65.1 billion in assets as of March 31, 2010. SunTrust had more than $211 billion in assets under advisement, including $122.7 billion in assets under management as of March 31, 2010.

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 March 31, 2010, SunTrust had total assets of $171.8 billion and total deposits of $118.8 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 clients 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 investment banking services. SunTrust's Internet address is suntrust.com