Crestar selects SEI trust software.

announced today that Crestar Bank has selected the SEI trust and securities accounting software for another five years to support its over $30 billion trust business, in its more than twelve trust and investment locations in Virginia, Maryland and Washington, D.C.

With the Crestar Bank contract renewal, SEI continues its leadership as the largest provider of trust services in the United States, serving more than one-third of the top 100 trust departments.

"As a strategic partner, SEI has helped us move our business plan ahead through the application of technology to meet our trust and investment management business needs," said Thomas D. Hogan, Group Executive Vice President, Crestar Bank. "We also selected SEI again because the architecture of SEI trust software allows it to grow with us."

The SEI TRUST 3000 product line provides a comprehensive trust and securities accounting system with integrated and automated solutions for investment management, account administration, and operations.

"We are thrilled that Crestar has again selected us," said Rick Lieb, SEI executive vice president. "We make it our business to know our clients' complete needs, and this--in combination with our commitment to research and development, service and understanding of the industry--allows SEI to deliver the strongest trust solution in the industry."

With assets of $14.4 billion, Crestar Financial Corporation is the holding company for three banks operating 332 banking offices in Virginia, Maryland, and Washington. Other subsidiaries provide insurance, brokerage, investment management and mortgage banking services.

The SEI Investment Systems and Services group, based in Wayne, is the largest provider of trust system technology and consulting to the U.S. trust market. Its customers include national, regional and community banks and others serving the investment services industry.

SEI is an investment services firm with products tailored to meet the needs of institutions with sizable pools of investable capital, combining advanced technology with sophisticated investment services. SEI delivers innovative business and investment solutions to banks and trust organizations across North America.

CONTACT: Manning Selvage & Lee

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