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                                                                    Exhibit 99.1

For Immediate Release                 Contact: James C. Armstrong (404) 588-7425
January 4, 1999


                       SUNTRUST, CRESTAR MERGER COMPLETED


ATLANTA, GA -- SunTrust Banks, Inc. (NYSE: STI) and Crestar Financial
Corporation reported their merger became effective December 31, 1998. Crestar is
now a wholly owned subsidiary of SunTrust. Fourth quarter and annual 1998
earnings for the combined company will be reported on January 12, 1999.

In addition, SunTrust announced today the four Crestar directors who became
members of the SunTrust Board of Directors upon completion of the merger. The
new directors are:

         Richard G. Tilghman, Vice Chairman of SunTrust, is Chairman and Chief
         Executive Officer of Crestar.

         Frank E. McCarthy is President of the National Automobile Dealers
         Association based in McLean, Virginia.

         G. Gilmer Minor, III is Chairman, President and Chief Executive Officer
         of Owens & Minor, Inc, a hospital and medical supply distributor based
         in Richmond, Virginia.

         Frank S. Royal is President of Frank S. Royal, M.D., P.C., a family
         medicine practice in Richmond, Virginia and Chairman of the Board of
         Meharry Medical College, Nashville, Tennessee.

SunTrust is the tenth largest banking company in the United States with assets
of more than $87 billion. The Company provides a full line of consumer and
commercial banking services to more than 3.3 million customers through 1,094
branches in Alabama, Florida, Georgia, Maryland, Tennessee, Virginia and the
District of Columbia.