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SHAREHOLDER VALUE FOCUSOur strategies, which we updated and then pursued withrenewed energy beginning in late 2006, are aimed at ensuringthat our financial performance, over time, is commensuratewith our growth potential. The goal is to capitalize onour unique institutional strengths and fully leverage theopportunities afforded by our high-growth geographicfootprint, our strong competitive positions, and our wellbalanced business mix.Our Board of Directors is unified in its support of our strategicdirection. Our management team is committed to its success.And more than 32,000 talented, motivated employees workhard every day to translate it into results. We are confidentthat continued successful implementation of our strategy,building on progress in key initiatives in 2007, will deliverimproved shareholder value in a more normalized operatingenvironment. For example: T hrough enhanced balance sheet management strategies,we have reduced the holdings of lower-yielding loans andsecurities on our books, and also cut back on higher-costwholesale deposits. These steps had a direct and positiveimpact on 2007 net interest income with the prospectof continued benefits as we move ahead. W e employed fresh strategies to more effectively manageour capital resources to support future growth. Includedwas the sale of a portion of our longtime stock holdings inThe Coca-Cola Company and a commitment to rationalizeour remaining holdings consistent with our capitaloptimization goals. It is important to note that ourdecisions in this area are based entirely on SunTrust capitalmanagement considerations. The Coca-Cola Company,clearly one of the world’s leading business enterprises,remains a highly valued SunTrust business partner. P erhaps most visible from an employee perspective, wemoved decisively during 2007 to take productivity andefficiency to new levels throughout the Company. Thecenterpiece of this effort is a bold, structured programcalled “E2 – Excellence in Execution.” Launched in January,E2 encompasses a series of very specific initiatives designedto significantly reduce the growth in operating expensesover a four-year period. Based on initial successes inareas such as corporate-owned real estate and suppliermanagement, the E2 program was expanded and acceleratedin mid-2007 and remains on track to meet or exceed itsannual financial targets.229352 Text.indd 2One goal of the E2 program is to provide funds for investmentin selected high-growth businesses and customer-focusedtechnology. In addition, by taking a hard look at ourorganization, streamlining various internal processes andprocedures and operating more efficiently ourselves, we aremaking it easier for clients to do business with SunTrust. Webelieve this will contribute meaningfully to our competitiveadvantage in the marketplace and, by extension, improve ourrevenue-generating capacity once market conditions improve.I do not wish to downplay the seriousness of the challengesconfronting our industry at this time. Yet history tells usconvincingly that, in time, markets will stabilize, the creditcycle will play out and more normal performance patternsfor banks will resume. So, even as we deal with currentpressures, we are positioning ourselves for the future — andfor better than “normal” performance.INVESTING FOR GROWTHWe fully expect to emerge from this inhospitable environmentstrong, successful and poised to take full advantage of thegrowth opportunities that are out there for us. In that vein,we are prudently investing in our businesses and expandingour capabilities. For example: O ur innovative “My Cause” deposit-generation campaign —through which clients who open a new checking accountcan have SunTrust make a donation in their name toan IRS-recognized charity — led to significant growthin new accounts and households while reinforcing our longtrack record of community support. I nvestments in our award-winning Treasury & PaymentsSolutions business boosted our competitive position incommercial products with high client appeal and attractiveprofit characteristics such as online payroll, remote checkcapture, and fraud prevention. T o tap the growth potential in the “megawealthy” market,our multi-family office subsidiary — which was rebrandedas GenSpring Family Offices — added an internationalcapability and enhanced its domestic footprint by expandingits New York City presence and acquiring a well-regardedPhoenix-based wealth management operation. GenSpringnow serves over 600 families with nearly 15 billion inassets under management.SUNTRUST 2007 ANNUAL REPORT2/20/08 5:56:27 PM

W e also continued targeted investments in technologyand product development to enhance overall customerconvenience and service capabilities. For example, SunTrustwas among the first banks to launch a mobile telephonebanking application. And we continued implementationof a multiyear program to upgrade and expand ourbranch network, the core channel through which wedeliver “big bank” capabilities with a truly local touch.I t is gratifying when our efforts to provide a superior clientexperience are recognized by respected industry observers.SunTrust Online Sales Contact Centers, for example, wererated number one among the top 15 banks for the seventhconsecutive year in the 2007 O’Connor & AssociatesIndustry Benchmark Study. We also ranked “Highestin Customer Satisfaction among Home Equity Line ofCredit/Loan Servicers*” in the J.D. Power and Associates2007 Home Equity Line of Credit/Loan Servicer Study SM.*Greenwich Associates recognized SunTrust for excellencein small business client satisfaction, and our Private WealthManagement unit was rated the most prestigious wealthmanagement firm among regional banks in the 2007 LuxuryBrand Status Index, conducted by the Luxury Institute.SEEING BEYOND MONEYWhat this kind of recognition says to me is that SunTrustpeople know that clients need more than a range of productsto make the financial decisions that shape their lives. Theyneed a partner who understands them, supports them, andactively helps them to achieve their goals. Our commitmentto do this — to operate not just profitably but also in the bestinterests of our clients — is reflected in our distinctive andincreasingly visible brand promise: “Seeing beyond money.”More than a slogan, our brand promise provides a conceptualfocal point for each of our business lines to bring the fullrange of SunTrust resources to bear on the needs of theirindividual clients.I should point out that, while seeing beyond money maydefine our approach to helping our clients, we know ourshareholders’ interest in SunTrust is very much about money about our making more money. That is as it should be intoday’s demanding investment climate. We take thisresponsibility very seriously.The good news is that shareholder and client interests gohand in hand. As we do a better job than other financialservice providers in serving existing clients and addingnew ones, we can expect our business to grow faster.Coupled with the success of our programs to reduce costsand improve efficiency — and assuming stable marketsand a reasonably supportive economic and operatingenvironment — business growth should lead to qualityearnings growth.Of course, markets were far from stable in 2007. And theoperating environment was anything but supportive. So, asI noted at the beginning of this letter, our bottom lineresults were not as I had hoped or expected. That beingsaid, I conclude my first year as Chief Executive Officerof SunTrust with pride in our accomplishments, renewedappreciation of the strengths of our Company, undiminishedenthusiasm about the growth opportunities that are out therefor us, and absolute confidence in the ability of our peopleto bring it all together.I would like to express my gratitude to our Board of Directorsfor their wisdom, support and valued perspective during ayear that was sometimes difficult and always challenging.A special word of thanks goes to L. Phillip Humann, mypredecessor as Chief Executive Officer, who in Februaryannounced his plans to retire from SunTrust in 2009 aftera 40-year career at our Company. There will be ample timeto recognize Phil’s many contributions to SunTrust, but fornow I simply will say that I am honored to succeed him asChairman of the Board in April 2008.The Board of Directors and I wish to thank our employeesfor their hard work on behalf of our clients and shareholders.Finally, I thank our shareholders for your investment, yourinterest, and your supportJAMES M. WELLS IIIPresident and Chief Executive OfficerFebruary 29, 2008* SunTrust received the highest numerical score in the proprietary J.D. Powerand Associates 2007 Home Equity Line of Credit/Loan Servicer StudySM. Studybased on 4,964 total responses measuring 25 lenders and measures the servicesatisfaction of bank customers who obtained a home equity line of credit/loan in September 2006-May 2007. Proprietary study results are basedon experiences and perceptions of consumers surveyed in June-August 2007.Your experiences may vary. Visit jdpower.com.SUNTRUST 2007 ANNUAL REPORT29352 Text.indd 332/20/08 5:56:27 PM

Financial HighlightsYear Ended December 31(Dollars in millions, except per share data)200720062005 1,634.01,603.78,250.91,026.6 2,117.52,109.78,216.8879.6 1,987.21,987.27,809.5795.0 4.552.9262.4950.38 5.822.4484.4548.78 5.472.2072.7646.65FOR THE YEARNet incomeNet income available to common shareholdersTotal revenue - FTE 1Common dividends paidPER COMMON SHARENet income - dilutedDividends declaredCommon stock closing priceBook valueFINANCIAL RATIOSReturn on average total assets0.92%1.17%Return on average assets less netunrealized securities gains 20.811.17Return on average common shareholders’ equity9.2712.13Return on average realized common shareholders’ equity 28.6512.72Net interest margin 33.113.00Efficiency ratio 363.4359.39Tier 1 capital ratio6.937.72Total capital 57SELECTED AVERAGE BALANCESTotal assetsEarning assetsLoansDepositsTotal shareholders’ equityCommon shares - diluted (thousands) 8 2 4Total assets 179,573.9 182,161.6Earning owance for loan and lease l shareholders’ equity18,052.517,813.6Common shares outstanding (thousands)348,411354,903Market value of investment in common stock ofThe Coca-Cola Company 2,674 2,325 4361,984AS OF DECEMBER 31 1,9461 Total revenue is comprised of net interest income (fully taxable-equivalent, or “FTE”) and noninterest income.2 In this report, SunTrust presents a return on average assets less net unrealized securities gains and return on average realized equity which exclude realizedand unrealized securities gains/losses and dividends from The Coca-Cola Company. The foregoing numbers primarily reflect adjustments to removethe effects of the ownership by the Company of 43.6 million shares of The Coca-Cola Company. The Company uses this information internally to gaugeits actual performance in the industry. The Company believes that the return on average assets less the net unrealized securities gains is more indicative ofthe Company’s return on assets because it more accurately reflects the return on assets that are related to the Company’s core businesses. The Companyalso believes that the return on average realized equity is more indicative of the Company’s return on equity because the excluded equity relates primarilyto a long-term holding of a specific security. The Company provides reconcilements of all non-US GAAP measures in Tables 21 and 22 of Management’sDiscussion and Analysis.3 The net interest margin and efficiency ratios are presented on a fully taxable-equivalent (FTE) basis. The FTE basis adjusts for the tax-favored status ofincome from certain loans and investments. The Company believes this measure to be the preferred industry measurement of net interest income and itenhances comparability of net interest income arising from taxable and tax-exempt sources.429352 Text.indd 4SUNTRUST 2007 ANNUAL REPORT2/20/08 5:56:27 PM

Management CommitteeJAMES M. WELLS IIIRAYMOND D. FORTINDENNIS M. PATTERSONPresident and Chief Executive Officer40 years of serviceCorporate Executive Vice PresidentCorporate Executive Vice PresidentGeneral Counsel19 years of serviceCorporate Sales Administration39 years of serviceVice ChairmanTHOMAS E. FREEMANWILLIAM H. ROGERS, JR.Banking Groups38 years of serviceCorporate Executive Vice PresidentCorporate Executive Vice PresidentChief Credit and Risk Officer2 years of serviceWealth and Investment Management,Mortgage, and Corporate and InvestmentBanking Lines of Business28 years of serviceWILLIAM R. REED, JR.GAY O. ABBOTTCorporate Executive Vice PresidentC.T. HILLCommercial Line of Business25 years of serviceChairman, President and ChiefExecutive OfficerMid-Atlantic Banking Group38 years of serviceMIMI BREEDENTIMOTHY E. SULLIVANCorporate Executive Vice PresidentChief Information Officer5 years of serviceCorporate Executive Vice PresidentHuman Resources28 years of serviceCRAIG J. KELLYCorporate Executive Vice PresidentE. JENNER WOOD, IIIChief Marketing Officer11 years of serviceChairman, President and ChiefExecutive OfficerMARK A. CHANCYCentral Banking Group33 years of serviceCorporate Executive Vice PresidentChief Financial Officer19 years of serviceDAVID F. DIERKERC. EUGENE KIRBYCorporate Executive Vice PresidentCommercial and Retail Lines of Business,Corporate Marketing23 years of serviceCorporate Executive Vice PresidentChief Administrative Officer11 years of serviceTHOMAS G. KUNTZChairman, President and ChiefExecutive OfficerSTERLING EDMUNDS, JR.President and Chief Executive OfficerFlorida Banking Group29 years of serviceSunTrust Mortgage, Inc.21 years of serviceSUNTRUST 2007 ANNUAL REPORT29352 Text.indd 552/20/08 5:56:27 PM

SunTrust Banking NetworkBANKING GROUPS & REGIONSKEY CITYKEY EXECUTIVECentral GroupAtlanta, GAE. Jenner Wood, IIIAtlanta RegionAtlanta, GAGary Peacock, Jr.· SunTrust Bank, AtlantaAtlanta, GAGary Peacock, Jr.· SunTrust Bank, GainesvilleGainesville, GALana D. Nix· SunTrust Bank, AthensAthens, GAPeter Hodgson, Jr.Chattanooga RegionChattanooga, TNMichael R. Butler· SunTrust Bank, ChattanoogaChattanooga, TNMichael R. Butler· SunTrust Bank, Northwest GeorgiaRome, GABradley L. White· SunTrust Bank, Tennessee ValleyFlorence, ALW. David JonesEast Tennessee RegionKnoxville, TNDeborah G. Crowder· SunTrust Bank, East TennesseeKnoxville, TNDeborah G. Crowder· SunTrust Bank, Northeast TennesseeJohnson City, TNScott FolsomSavannah, GAWilliam B. Haile· SunTrust Bank, AugustaAugusta, GAWilliam R. Thompson· SunTrust Bank, Middle GeorgiaMacon, GAJames A. Manley, III· SunTrust Bank, SavannahSavannah, GAKay A. Ford· SunTrust Bank, Southeast GeorgiaBrunswick, GABrian R. Parks· SunTrust Bank, West GeorgiaColumbus, GAFrank S. Etheridge, III· SunTrust Bank, South GeorgiaAlbany, GAD. Michael MarzMemphis, TNJohn R. FrazerMemphis, TNJohn R. FrazerNashville, TNRobert E. McNeilly, IIINashville, TNRobert E. McNeilly, IIIFlorida GroupOrlando, FLThomas G. KuntzCentral Florida RegionOrlando, FLRay L. Sandhagen· SunTrust Bank, Central FloridaOrlando, FLRay L. Sandhagen· SunTrust Bank, East Central FloridaDaytona Beach, FLSteven R. Forsyth· SunTrust Bank, Brevard CountyMelbourne, FLDonna M. DemersJacksonville, FLJohn R. Schmitt· SunTrust Bank, North FloridaJacksonville, FLJohn R. Schmitt· SunTrust Bank, OcalaOcala, FLJames C. Maguire· SunTrust Bank, TallahasseeTallahassee, FLThomas M. Pennekamp· SunTrust Bank, PensacolaPensacola, FLChristina L. Doss· SunTrust Bank, GainesvilleGainesville, FLDick D. Mahaffey, Jr.· SunTrust Bank, Panama CityPanama City, FLJohn S. Kranak, Jr.Georgia RegionMemphis Region· SunTrust Bank, MemphisNashville Region· SunTrust Bank, NashvilleNorth Florida RegionSouth Florida Region629352 Text.indd 6Ft. Lauderdale, FLJames W. Rasmussen· SunTrust Bank, South FloridaFt. Lauderdale, FLJames W. Rasmussen· SunTrust Bank, MiamiMiami, FLNicholas G. BustleSUNTRUST 2007 ANNUAL REPORT2/20/08 5:56:27 PM

BANKING GROUPS & REGIONSFlorida Group continuedSouthwest Florida Region· SunTrust Bank, Gulf Coast· SunTrust Bank, Charlotte County· SunTrust Bank, Lee CountyTampa Region· SunTrust Bank, Hillsborough County· SunTrust Bank, Nature Coast· SunTrust Bank, Pinellas County· SunTrust Bank, South Pinellas CountyMid-Atlantic GroupCentral Carolina Region· SunTrust Bank, Durham· SunTrust Bank, Greensboro· SunTrust Bank, WilmingtonCentral Virginia Region· SunTrust Bank, Central Virginia· SunTrust Bank, Tri-CitiesGreater Washington & Maryland Region· SunTrust Bank, Maryland· SunTrust Bank, Greater WashingtonHampton Roads Region· SunTrust Bank, Hampton Roads· SunTrust Bank, Newport News· SunTrust Bank, WilliamsburgMecklenburg/South Carolina Region· SunTrust Bank, Asheville· SunTrust Bank, Cabarrus· SunTrust Bank, CharlotteWestern Virginia Region· SunTrust Bank, Roanoke· SunTrust Bank, Charleston· SunTrust Bank, Charlottesville· SunTrust Bank, Harrisonburg· SunTrust Bank, Lynchburg· SunTrust Bank, Martinsville· SunTrust Bank, New River Valley· SunTrust Bank, StauntonKEY CITYKEY EXECUTIVESarasota, FLMargaret L. CallihanPort Charlotte, FLSteven J. VitoSarasota, FLFort Myers, FLTampa, FLTampa, FLBrooksville, FLSt. Petersburg, FLClearwater, FLMargaret L. CallihanHeidi Colgate-TamblynDaniel W. MahurinO. Fred DobbinsJames H. KimbroughRoy A. BingerSteven L. CassRichmond, VAC.T. HillDurham, NCLisa H. YarboroughDurham, NCRaleigh, NCWilmington, NCRichmond, VARichmond, VAPetersburg, Hopewell,John G. StallingsSpence H. BroadhurstDonna S. CameronGail L. LettsGail L. LettsColonial Heights, VAErnest H. YerlyBaltimore, MDBill McCarthyWashington, DCWashington, DCNorfolk, VANorfolk, VANewport News, VAWilliamsburg, VACharlotte, NCAsheville, NCCabarrus, NCCharlotte, NCRoanoke, VARoanoke, VACharleston, WVCharlottesville, VAHarrisonburg, VALynchburg, VAMartinsville, VARadford, VAStaunton, VAJ. Scott WilfongJ. Scott WilfongThomas V. RuegerThomas V. RuegerJerome F. ClarkBernard H. NgoCarl E. Wicker, Jr.William S. MillerE. K. Prewitt, Jr.Thomas M. Hodges IVBarry HendersonBarry HendersonDavid L. SayreStephen C. CampbellMartha D. ShifflettMichael A. SyrekRicky A. SwinneyEdward B. LawhornRussell A. RoseSUNTRUST 2007 ANNUAL REPORT29352 Text.indd 772/20/08 5:56:27 PM

Board of DirectorsL. PHILLIP HUMANN 1BLAKE P. GARRETT, JR. 5FRANK S. ROYAL, M.D. 2Executive Chairman of the BoardPartnerPresidentGarrett & GarrettFountain Inn, South CarolinaFrank S. Royal, M.D., P.C.Richmond, VirginiaDAVID H. HUGHES 3, 4KAREN HASTIE WILLIAMS 2, 4Former Chairman of the BoardRetired PartnerHughes Supply, Inc.Orlando, FloridaCrowell & Moring, L.L.P.Washington, D.C.E. NEVILLE ISDELL 1DR. PHAIL WYNN, JR. 4, 5J. HYATT BROWN 1Chairman of the Board andChief Executive OfficerVice President, Durham andRegional AffairsChairman of the Board andChief Executive OfficerThe Coca-Cola CompanyAtlanta, GeorgiaDuke UniversityDurham, North CarolinaM. DOUGLAS IVESTER 2, 41 Executive CommitteeJames M. Wells III, ChairJAMES M. WELLS III 1President and Chief Executive OfficerROBERT M. BEALL, II 5Executive ChairmanBeall’s, Inc.Bradenton, FloridaBrown & Brown, Inc.Daytona Beach, FloridaPresidentA. D. CORRELL 3, 4ChairmanDeer Run Investments, LLCAtlanta, GeorgiaAtlanta Equity Investors, LLCAtlanta, Georgia3 Compensation CommitteeLarry L. Prince, ChairJ. HICKS LANIER 2JEFFREY C. CROWE 2Chairman of the BoardLandstar System, Inc.Jacksonville, Florida2 Audit CommitteeM. Douglas Ivester, ChairAudit Committee Financial ExpertChairman of the Board andChief Executive OfficerOxford Industries, Inc.Atlanta, Georgia4 Governance and Nominating CommitteeDavid H. Hughes, Chair5 Risk CommitteeThomas C. Farnsworth, Jr., ChairG. GILMER MINOR, III 3, 4THOMAS C. FARNSWORTH, JR. 5Chairman of the BoardChairmanOwens & Minor, Inc.Richmond, VirginiaFarnsworth Investment Co.Memphis, TennesseeLARRY L. PRINCE 3PATRICIA C. FRIST 5Chairman of the Executive CommitteePartnerGenuine Parts CompanyAtlanta, GeorgiaFrist Capital PartnersNashville, Tennessee829352 Text.indd 8SUNTRUST 2007 ANNUAL REPORT2/20/08 5:56:27 PM

UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 205492007 FORM 10-KÈ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the fiscal year ended December 31, 2007or‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934Commission File Number 001-08918SUNTRUST BANKS, INC.(Exact name of registrant as specified in its charter)Georgia58-1575035(State or other jurisdiction(I.R.S. Employerof incorporation or organization)Identification No.)303 Peachtree Street, N.E., Atlanta, Georgia 30308(Address of principal executive offices) (Zip Code)(404) 588-7711(Registrant’s telephone number, including area code)Securities registered pursuant to section 12(b) of the Act:Title of each className of exchange on which providedCommon StockNew York Stock ExchangeDepository Shares, Each Representing 1/4000th Interest in aNew York Stock ExchangeShare of Perpetual Preferred Stock, Series AIndicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the SecuritiesAct. Yes È No ‘Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the ExchangeAct. Yes ‘ No ÈIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file suchreports), and (2) has been subject to such filing requirements for the past 90 days. Yes È No ‘Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, andwill not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated byreference in Part III of the Form 10-K or any amendment to this Form 10-K. ÈIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,

Atlanta, GA 30308 404.588.7711 CORPORATE MAILING ADDRESS SunTrust Banks, Inc. P.O. Box 4418 Center 645 Atlanta, GA 30302-4418 NOTICE OF ANNUAL MEETING The Annual Meeting of Shareholders will be held on Tuesday, April 29, 2008 at 9:30 a.m. in Suite 105 on the first floor of SunTrust Plaza Garden Offices, 303 Peachtree Center Avenue, Atlanta .