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CRESTAR'S TRUST ASSETS TOP $30 BILLION, REFLECTING SUCCESS AT MEETING NEW DEMAND FOR ASSET MANAGEMENT SERVICES

 RICHMOND, Va., Sept. 8 /PRNewswire/ -- Trust assets held by Crestar Bank's Trust & Investment Management Group have passed the $30 billion mark, underscoring the growth of demand for asset management services in the Virginia, Washington, Maryland market, as well as the rapid expansion of Crestar's competitive position within that field.
 Trust assets are entrusted by their owners to bank trust departments or other investment managers to be invested or safeguarded on their behalf.
 The $30 billion figure represents growth in Crestar's trust assets of 58 percent over the last five years. During the same period, Crestar's trust assets under management -- funds actively managed on behalf of clients -- have grown to $9.1 billion from $6.2 billion.
 Crestar Trust & Investment Management Group is marking the milestones with a series of celebrations for employees in bank offices throughout Virginia and in the Washington area.
 "The steady growth in the level of assets entrusted to us illustrates, I believe, how effectively we've anticipated and kept pace with our clients' changing service requirements and investment expectations," said Thomas D. Hogan, executive vice president in charge of the bank's Trust & Investment Management Group. "With a team of well-trained and talented professionals offering superior service quality and sophisticated products and services, Crestar can look forward to solidifying and building on our position as a leader in trust and investment advisory services," he said.
 Crestar's Trust & Investment Management Group provides trust, investment advisory and money management services to meet a wide range of financial objectives for institutions and individuals. The group is a unit of Crestar Financial Corporation (NYSE: CF), which, with $12.2 billion in assets, is the holding company for three banks operating in Virginia, Maryland and the District of Columbia. Other subsidiaries provide inr?ance, brokerage and mortgage banking services.
 -0- 9/8/93
 /CONTACT: Tony Mattera of Crestar, 804-782-7844/
 (CF)


CO: Crestar Trust & Investment Management Group; Crestar Financial
 Corporation ST: Virginia IN: FIN SU:


MH-DC -- DC005 -- 9691 09/08/93 09:55 EDT
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Publication:PR Newswire
Date:Sep 8, 1993
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