Trusco Capital Buys Stake in Alpha Equity Management LLC

Trusco Capital Management, Inc. ("Trusco") announced today that it has signed a definitive agreement to acquire a minority equity interest in Alpha Equity Management LLC ("Alpha Equity"). Alpha Equity manages a variety of equity hedge funds and is one of the pioneers in active extension (also referred to as 130/30) strategies, where it has six-year performance records in multiple asset classes.

The addition of Alpha Equity will allow Trusco to participate in the tremendous growth that is anticipated for alternative investments, particularly in 130/30 strategies. Total assets in 130/30-type products is currently estimated at $100 billion, and some sources estimate that over the next five years, demand in both the institutional and retail marketplaces could drive that number to more than $1 trillion in assets.

"We are pleased to be adding Alpha Equity's products to Trusco Capital's line up," said David H. Eidson, Chairman and CEO of Trusco Capital Management. "Our clients, who continue to seek new ways to diversify their portfolios, will have a keen interest in this addition given Alpha Equity's very impressive six-year performance record and its managers' expertise in running long/short portfolios. Alpha Equity's team is committed to delivering superior investment performance to its clients and has a high focus on client satisfaction. I have no doubt that Alpha Equity will be a good fit for our clients and our business."

"My partners and I are excited about joining forces with Trusco," said Kevin Means, CFA, Founder and Managing Partner at Alpha Equity. "This strategic partnership brings together Alpha Equity's strong and successful investment methodology and long-term performance record with Trusco's solid client relationships, extensive distribution network and institutional infrastructure. The 130/30 market represents a convergence between long-only asset management and hedge fund alternative management. We believe this partnership will help both firms capitalize upon Alpha Equity's first mover advantage in this fast growing strategy."

In this partnership with Trusco, Alpha Equity will operate as an independent alternative asset management boutique under the Alpha Equity name, will maintain its offices in Hartford, Connecticut and New York City and will continue to service its current client base. Current Alpha Equity clients will experience no change in the people, investment style, processes and the service they have come to value over the years.

Trusco Capital Management, Inc. is a subsidiary of SunTrust Banks, Inc. (NYSE: STI), one of the largest bank holding companies in the nation with total assets of $175.9 billion and total deposits of $115.9 billion as of September 30, 2007. Through its Wealth and Investment Management Division, SunTrust has approximately $250 billion in managed and advised client assets. As SunTrust's primary provider of institutional investment management services, Trusco provides customized investment management to a growing client base that includes endowments, foundations, corporations, healthcare organizations, municipalities, public funds, associations, insurance companies, labor unions and high net worth individuals. Trusco employs specialists in a wide variety of investment disciplines including liquidity management, fixed income and equity management. In addition, the firm serves as the investment adviser to the STI Classic Mutual Fund family. Trusco Capital Management is an SEC Registered Investment Adviser headquartered in Atlanta, Ga., with approximately $74 billion in assets under management.

Alpha Equity Management, LLC, founded in 2000, manages a variety of equity hedge funds, is a pioneer in active extension (130/30) strategies and has over $200 million in assets under management. The firm has six-year performance records in three asset classes: U.S. Real Estate Equities, U.S. Equities and International Equities for institutional clients and high net worth individuals. Alpha Equity Management's headquarters is in Hartford, Connecticut, and it has an office in New York, N.Y. Alpha Equity is an SEC Registered Investment Adviser.

Source: Trusco