Wilmington Trust Executive Richard Nenno Says New Total Return Unitrust Statute Exemplifies Delaware's Position at the Forefront of Innovative Wealth Management.

Business Editors

WILMINGTON, Del.--(BUSINESS WIRE)--Jan. 10, 2002

"Delaware is a pioneer in personal trust laws and the new Total Return Unitrust Statute exemplifies its commitment to developing cutting-edge trust strategies for individuals nationwide," said Richard W. Nenno, Esq., Vice President and Trust Counsel at Wilmington Trust, in comments delivered today at the 36th Annual Philip E. Heckerling Institute on Estate Planning, in Miami, Florida.

Mr. Nenno added: "Given Delaware's unique, sophisticated legal infrastructure with over 250 years of legal precedents in trust and corporate law, and the strong commitment by every member of Delaware's financial community, Delaware is the best place to set up trusts, including the new Total Return Unitrust," said Mr. Nenno.

Wilmington Trust has been a leader in the Delaware trust and estate community for nearly 100 years. Mr. Nenno was significantly involved in the drafting committee of Delaware's Total Return Unitrust (TRU) statute and helped brief Delaware's Court of Chancery on the new statute. In June 2001, Delaware became the first state to offer Total Return Unitrusts. Since then, more than $20 million in trusts has been converted to Total Return Unitrusts at Wilmington Trust.

Mr. Nenno headed the team that developed Wilmington Trust's procedures for Total Return Unitrusts, which were in place at the time the state statute was adopted. Wilmington Trust has also developed proprietary patent-pending Total Return Unitrust software to help families assess its unique benefits.

Total Return Unitrusts are personal trusts that help balance the interests of present trust beneficiaries with those in future generations, by allowing, under certain circumstances, current beneficiaries to receive a percentage of the trust's principal. "The Total Return Unitrust was designed as the best way to meet the needs of remainder and income beneficiaries while still having the trustee invest for total return," said Mr. Nenno.

The Heckerling Institute brings together the nation's leading experts to discuss the latest developments in trust and estate planning. The University of Miami School of Law's Heckerling Institute is widely recognized as the nation's leading program on estate planning. The conference takes place from January 7 -11, 2002.

Mr. Nenno, a graduate of Princeton University and Harvard Law School, was past Chairman of the Estates and Trusts Section of the Delaware State Bar Association and was a past President of the Estate Planning Council of Delaware, Inc. He is manager of Wilmington Trust's Estate Planning Section, and assists clients and their advisors in designing estate plans for wealthy individuals and families throughout the United States and abroad. A leader in his field, he frequently lectures on dynasty trusts and asset protection trusts.

About Wilmington Trust

Wilmington Trust Corporation (NYSE:WL) is a financial services holding company that provides wealth management and specialty corporate trust services to clients throughout the U.S. and in more than 50 other countries, and commercial banking services throughout the Delaware Valley region. Its wholly owned bank subsidiary, Wilmington Trust Company, was founded in 1903 and today is the 13th largest personal trust provider in the United States.

Wilmington Trust has offices in California, Delaware, Florida, Maryland, Nevada, New Jersey, New York, Pennsylvania, London, the Cayman Islands, and the Channel Islands. At September 30, 2001, combined assets under management at Wilmington Trust and its affiliates Cramer Rosenthal McGlynn and Roxbury Capital Management were $34.7 billion.

For more information about Wilmington Trust, visit www.wilmingtontrust.com.