EX-99.1

Exhibit 99.1


		National City Corporation
		1900 E. 9^th St.
		Cleveland, OH 44114-3484


NEWS RELEASE
For Immediate Release
Investor Contacts:		Media Contact:
Jill Hennessey		Kristen Baird Adams
216-222-9253		216-222-8202
jill.hennessey@nationalcity.com		kristen.bairdadams@nationalcity.com

NATIONAL CITY REPORTS SECOND QUARTER 2008 RESULTS

	•		Net Loss of $1.8 Billion Driven By Actions to Increase Loss Reserves on Liquidating Loan Portfolios; Includes $1.1 Billion After-Tax Non-Cash Goodwill Charge Related to Previous Acquisitions — No Effect on Regulatory Capital

	•		*Excluding Unusual and Non-Operating Items, Pre-Tax Pre-Provision Operating Earnings Were $610 Million, Up 19%*

	•		*Tier 1 Capital $7 Billion over Well Capitalized Minimum; 11.1 % Tier 1 Capital Ratio Highest of All Major U.S. Banks*

	•		*Net Charge-Offs of $740 Million, Predominantly in Liquidating Loan Portfolios Versus $1.6 Billion Provision for Loan Losses; Nonprime Delinquencies Down*

	•		*Solid Progress in Actively Managing Liquidating Loan Portfolios, Which are Isolated, Contained, and Performing in Line with Expectations*

	•		*Aggressively Re-Focusing on Core Businesses, Which Remain Profitable; Deposits Continue Solid Growth Trend*

	•		*Enhanced Leadership Team Intensely Focused on Managing Risk, Controlling Expenses and Improving Profitability*

CLEVELAND—July 24, 2008— National City Corporation (NYSE: NCC) reported a net loss for the second quarter of 2008 of $1.8 billion, compared to a net loss of $171 million in the first quarter of 2008, and net income of $347 million in the second quarter a year ago. The net loss was $1.9 billion for the first half of 2008 compared to net income of $666 million in the first half of 2007.

The quarter and year-to-date loss was mainly driven by actions to increase loss reserves on liquidating mortgage loan portfolios and a non-cash goodwill impairment charge of $1.1 billion related to previous acquisitions. The second quarter provision for loan losses was $1.6 billion, of which $1.0 billion pertained to liquidating portfolios of brokered home equity, nonprime mortgage, and

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construction loans to individuals. The second quarter provision for loan losses included supplemental reserves of $478 million, specifically reflecting the difficult environment in the housing market.

Excluding unusual and non-operating items, pre-tax pre-provision operating earnings were $610 million in the second quarter of 2008, up 19% from $512 million in the first quarter of 2008. Net charge-offs of $740 million were predominantly in the liquidating portfolios and were less than half of the second quarter provision, resulting in a significant increase in the allowance for loan losses to 3.03% of portfolio loans. While the goodwill charge increased the reported net loss for the period, it had no effect on tangible equity, regulatory capital, or liquidity. As of June 30, 2008, the Tier 1 risk-based capital ratio was approximately 11.08%, up from 6.67% at March 31, 2008 and significantly in excess of the well-capitalized minimum of 6%. Total risk-based capital was approximately 14.90% and tangible equity to assets was approximately 8.94% at June 30, 2008.

Summary Financial Highlights


	Second			First			Second
	Quarter			Quarter			Quarter			YTD			YTD
($ in millions, except per share data)	2008			2008			2007			2008			2007

Pre-tax pre-provision operating earnings*	$	610		$	512		$	690		$	1,122		$	1,330

Consolidated net (loss)/income		(1,756	)		(171	)		347			(1,927	)		666

Diluted earnings per share		(2.45	)		(.27	)		.60			(2.86	)		1.09

Tier 1 capital ratio		11.08	%		6.67	%		6.56	%

Total risk-based capital		14.90	%		10.31	%		10.28	%

Tangible equity to tangible assets		8.94	%		5.00	%		5.43	%

Annualized net charge-offs as a percentage of average portfolio loans:

Core portfolio		.90	%		.71	%		.30	%		.80	%		.36	%

Commercial construction		1.70	%		.83	%		.25	%		1.27	%		.26	%

All other		.81	%		.69	%		.31	%		.75	%		.37	%

Liquidating portfolio		10.99	%		7.02	%		.66	%		8.91	%		.89	%

*See reconciliation to net (loss) income reported in accordance with GAAP in the following table.

Reconciliation of Pre-Tax Pre-Provision Operating Earnings

Management has presented pre-tax pre-provision operating earnings in this release for purposes of additional analysis of operating results. Pre-tax pre-provision operating earnings, as defined by

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management, represents net (loss) income excluding income tax (benefit) expense, the provision for loan and recourse losses, as well as other unusual, nonrecurring or nonoperating items shown below.

The following table reconciles pre-tax pre-provision operating earnings to consolidated net (loss)/income presented in accordance with U.S. generally accepted accounting principles (GAAP).


	Second			First			Second
	Quarter			Quarter			Quarter			YTD			YTD
($ in millions)	2008			2008			2007			2008			2007

Consolidated net (loss)/income	$	(1,756	)	$	(171	)	$	347		$	(1,927	)	$	666

Income tax (benefit) expense		(667	)		(35	)		175			(702	)		309

Provision for loan losses		1,592			1,393			145			2,985			267

Goodwill impairment		1,080			—			—			1,080			—

Provision for recourse losses		215			38			33			253			49

Visa-related gains		—			(772	)		—			(772	)		--

MSR hedging losses (gains)		146			59			(10	)		205			39

Pre-tax pre-provision operating earnings	$	610		$	512		$	690		$	1,122		$	1,330

Consolidated net (loss)/income, measured in accordance with GAAP, is the principal and most useful measure of earnings and provides comparability of earnings with other companies. However, management believes presenting pre-tax pre-provision operating earnings provides investors with the ability to understand the company’s underlying operating trends.

Chairman’s Comments

Chairman, President and CEO Peter E. Raskind commented, “In this very challenging environment, we have made significant progress during the quarter in strengthening our balance sheet, mitigating losses in our liquidating portfolios and positioning National City for long-term growth when the credit cycle turns. With the completion of our $7 billion capital raise, National City is by far the best capitalized bank among its peer group — and is the best capitalized of all major U.S. banks. We continue to generate strong pre-provision income, and we are confident that we have more than sufficient capital to ride out turbulent credit markets. We fully recognize that we need to improve performance. Our management team is aggressively executing on plans to manage risk, cut expenses, and improve profitability. We are sharpening our focus on our core businesses while continuing to serve customers as one of the leading banks in our region. We believe that the fundamental strengths of our business model will help drive a return to profitability. As we continue to work through the

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current credit market turbulence, we are building our core business through profitable relationship growth and expansion.”

Significant Actions to Strengthen Operations and Manage Risks

National City has taken a number of other actions to re-focus its operations, cut costs, enhance risk management and strengthen its management team, including:

	•		Restructuring the mortgage business under a new management team, exiting all broker-based mortgage and home equity operations, closing correspondent lending, reducing national home equity exposures, and lowering mortgage headcount;

	•		Sharpening focus of the core commercial banking business, including curtailing out-of-footprint commercial real estate loans, reducing credit-only or credit-heavy relationships, focusing on higher-return relationships, and continuing to make significant investments in non-credit capabilities such as treasury management services;

	•		Continuing to build out and differentiate the retail franchise, offering industry-leading products and services that are driving household retention and expansion, while attracting new customer relationships. This includes “Points from National City,” the most comprehensive banking rewards program in the industry; a checking product line that waives ATM fees; and Work Perks, National City’s “bank at work” program;

	•		Appointing new senior executives — including a chief risk officer and new heads of the mortgage and corporate banking units — as well as a new board member.

	•		Initiating a search for a new CFO as well as for two new directors to join the National City Board;

	•		Ongoing review of potential troubled asset disposition opportunities to the extent such transactions make economic sense; and

	•		Making significant investments in risk management processes, talent and technology.

“We believe we have clearly identified and segregated our portfolio of non-core assets and have much better visibility regarding loss estimates than we did earlier this year. As a result, we expect the provision for loan losses to decline in the second half of 2008. Our liquidating portfolios are isolated and contained, and are performing in line with expectations. More importantly, we are making progress in reducing the size of the liquidating portfolio and mitigating associated losses,” continued Raskind. “National City was among the first in our peer group to raise capital and build reserves. Our strong capital position not only enables us to fully address the ongoing challenges in the credit and housing

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markets, but also allows us to continue investing in and growing our core businesses, which continue to be profitable.”

Consolidated Income Statement Highlights


	Second			First			Second
	Quarter			Quarter			Quarter		YTD			YTD
($ in millions, except per share data)	2008			2008			2007		2008			2007

Tax-equivalent net interest income	$	1,021		$	1,069		$	1,096	$	2,090		$	2,214

Provision for loan losses		1,592			1,393			145		2,985			267

Net interest (expense) income after provision for loan losses		(571	)		(324	)		951		(895	)		1,947

Noninterest income		431			1,138			764		1,569			1,385

Noninterest expense		2,277			1,012			1,186		3,289			2,342

(Loss) income before income taxes		(2,417	)		(198	)		529		(2,615	)		990

Income tax (benefit) provision and tax equivalent adjustment		(661	)		(27	)		182		(688	)		324

Net (loss) income	$	(1,756	)	$	(171	)	$	347	$	(1,927	)	$	666

Net (loss) income available to common shareholders		(1,771	)		(171	)		346		(1,942	)		665

Diluted earnings per common share		(2.45	)		(.27	)		.60		(2.86	)		1.09

Net Interest Income

Tax-equivalent net interest income was $1.0 billion for the second quarter of 2008, down about 5% compared to the immediately preceding quarter, and down 7% compared to the second quarter a year ago due to lower net interest margin. Net interest margin was 2.97% in the second quarter of 2008, 3.18% in the first quarter of 2008, and 3.59% in the second quarter a year ago. The lower margin in the second quarter 2008 reflects higher levels of nonperforming loans, as well as lower interest rates, which moved loan yields more than funding costs. Average earning assets for the second quarter of 2008 were $137.8 billion, up 2% compared to the preceding quarter, and up 13% compared to the second quarter a year ago, largely due to an acquisition completed in the last half of 2007.

Tax-equivalent net interest income was $2.1 billion for the first half of 2008, down 6% compared to the prior year. Net interest margin was 3.08% for the first half of 2008 compared to 3.64% in the first half of 2007. The lower margin in 2008 is attributable to the same factors previously

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described. Average earning assets were $136.2 billion in the first half of 2008, up 12% from the same period a year ago.

Provision for Loan Losses

The provision for loan losses was $1.6 billion in the second quarter of 2008, $1.4 billion in the first quarter of 2008, and $145 million in the second quarter of 2007. The larger provision for loan losses reflects additional loss reserves for loans secured by residential real estate, inclusive of a $478 million supplemental reserve on liquidating portfolios of construction loans to individuals and broker-sourced nonprime mortgage and home equity loans. On a year-to-date basis, the provision for loan losses was $3.0 billion in 2008 compared to $267 million in 2007.

Net charge-offs were $740 million in the second quarter of 2008, $538 million in the first quarter of 2008, and $98 million in the second quarter of last year, with the increase mainly in the liquidating portfolios. Net charge-offs in the core portfolio were $213 million in the second quarter versus $166 million in the first quarter primarily due to increased losses in commercial construction; both commercial and branch home equity charge-offs were fairly stable. Net charge-offs for the liquidating portfolio were $527 million, up $155 million from first quarter 2008 due to higher write-offs of construction loans to individuals, reflecting higher loss severities. On a year-to-date basis, net charge-offs were $1.3 billion in 2008 and $245 million in 2007.

The Corporation’s liquidating loan portfolios are managed separately from the core portfolio. The core portfolio consists of commercial and consumer loans associated with ongoing businesses. The liquidating loan portfolios consist of consumer loans associated with products and/or origination channels that have been exited, specifically broker-sourced nonprime mortgage loans, broker-sourced home equity lines and loans, construction loans to individuals, and indirect automobile, marine and recreational vehicle loans. The following tables show the provision for loan losses and net charge-offs for the core portfolio separately from the liquidating portfolios.


	Second		First		Second
	Quarter		Quarter		Quarter		YTD		YTD
($ in millions)	2008		2008		2007		2008		2007

Provision for Loan Losses:

Core portfolio	$	565	$	405	$	86	$	970	$	102

Liquidating portfolios		1,027		988		59		2,015		165

Total	$	1,592	$	1,393	$	145	$	2,985	$	267

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	Second		First		Second
	Quarter		Quarter		Quarter			YTD		YTD
($ in millions)	2008		2008		2007			2008		2007

Net charge-offs:

Core portfolio:

Commercial loans and leases	$	39	$	24	$	19		$	63	$	42

Commercial construction		39		19		5			58		10

Commercial real estate		22		7		(1	)		29		1

Mortgage and other consumer		113		116		34			229		80

Total core		213		166		57			379		133

Liquidating portfolios		527		372		41			899		112

Total	$	740	$	538	$	98		$	1,278	$	245

Loans 90 days past due were $1.2 billion at June 30, 2008, down 12% from March 31, 2008 due primarily to lower levels of past due nonprime mortgage loans, as this portfolio continues to run off. Nonperforming assets were approximately $3.1 billion at June 30, 2008, up 14% from the preceding quarter, with the growth primarily in mortgage- and broker-sourced home equity loans, as well as commercial construction loans to residential real estate developers. Commercial and industrial nonperforming loans were flat. The table shown below reports these measures for the core and liquidating loan portfolios.


	June 30,		March 31,		June 30,
($ in millions)	2008		2008		2007

Loans 90 days past due

Core portfolio:

Commercial loans and leases	$	28	$	72	$	45

Commercial construction		44		84		66

Commercial real estate		102		76		38

Residential real estate		498		487		192

Other consumer		67		70		37

Total core		739		789		378

Liquidating portfolios		417		524		731

Total	$	1,156	$	1,313	$	1,109

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	June 30,			March 31,			June 30,
($ in millions)	2008			2008			2007

Nonperforming Assets

Core portfolio:

Commercial loans and leases	$	236		$	231		$	125

Commercial construction		626			387			108

Commercial real estate		294			239			138

Residential real estate		421			337			83

Total core		1,577			1,194			454

Liquidating portfolios		1,021			1,070			110

Other real estate owned		528			488			284

Total	$	3,126		$	2,752		$	848

Allowance for loan losses

Core portfolio	$	1,603		$	1,252		$	856

Liquidating portfolios		1,831			1,330			280

Total	$	3,434		$	2,582		$	1,136

Allowance for loan losses as a percentage of portfolio loans

Core portfolio		1.71	%		1.33	%		1.09	%

Liquidating portfolios		9.20			6.20			1.34

Total loan portfolio		3.03			2.23			1.14

Noninterest Income

Noninterest income was $431 million in the second quarter of 2008, $1.1 billion in the first quarter of 2008, and $764 million in the second quarter a year ago. The decline in second quarter resulted from mortgage servicing right (MSR) hedging losses of $146 million, a mortgage recourse provision of $215 million, and a $532 million gain on the partial redemption of Visa shares in the first quarter of 2008. On a year-to-date basis, noninterest income was $1.6 billion in the first half of 2008 compared to $1.4 billion in the first half of 2007.

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	Second			First		Second
	Quarter			Quarter		Quarter			YTD			YTD
($ in millions)	2008			2008		2007			2008			2007

Deposit service charges	$	260		$	230	$	223		$	490		$	427

Loan sale and servicing (loss) revenue*		(141	)		105		206			(36	)		313

Security (losses) gains*		(11	)		515		(1	)		504			26

All other		323			288		336			611			619

Total noninterest income	$	431		$	1,138	$	764		$	1,569		$	1,385

*MSR hedging losses and mortgage recourse provision included within loan sale and servicing. Gain on redemption of Visa shares included within security gains.

Deposit service fees were $260 million in the second quarter of 2008, up 13% compared to the first quarter and 17% compared to the second quarter a year ago. On a year-to-date basis, deposit service fees were $490 million, up 15% from the same period last year. The growth compared to the preceding quarter reflects higher fee generating transaction volumes, as the first quarter of the year generally has seasonally lower volumes of overdraft and nonsufficient funds transactions. The growth in deposit service fees compared to a year ago reflects continued growth in the number of deposit accounts, including the effect of an acquisition completed in the last half of 2007.

Loan sale (loss) revenue was $(94) million in the second quarter of 2008, $89 million in the first quarter of 2008, and $110 million in the second quarter a year ago. The loss from loan sales in the second quarter of 2008 resulted from a provision for potential recourse losses of $215 million related to mortgage and home equity loan repurchases. The mortgage recourse reserve increased to $364 million at June 30, 2008, up $168 million compared to March 31, 2008. On a year-to-date basis, loan sale (loss) revenue was $(5) million in 2008 and $185 million in 2007. On a year-over-year basis, loan sale revenue has declined due to lower originations as the Corporation has exited certain products and origination channels, as well as the larger provision for potential losses on mortgage loan repurchases.

Loan servicing (loss) revenue was $(47) million in the second quarter of 2008, $16 million in the first quarter of 2008, and $96 million in the second quarter a year ago. This decrease primarily reflects net MSR hedging (losses)/gains of $(146) million in the second quarter of 2008, $(59) million in the first quarter of 2008, and $10 million in the second quarter a year ago. On a year-to-date basis, loan servicing losses were $(31) million in the first half of 2008, inclusive of $(205) million of net MSR hedging losses, compared to loan servicing revenue of $128 million in the first half of 2007, inclusive of $(39) million of net MSR hedging losses.

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Noninterest Expense

Noninterest expense was $2.3 billion in the second quarter of 2008, $1.0 billion in the first quarter of 2008, and $1.2 billion in the second quarter a year ago. Noninterest expense was $3.3 billion for the first half of 2008 compared to $2.3 billion in the first half of 2007, with the increase due mainly to a goodwill impairment charge of $1.1 billion associated with previous acquisitions. Noninterest expense for the first quarter and first half of 2008 benefited from the release of $240 million of Visa indemnification liabilities.


	Second		First			Second
	Quarter		Quarter			Quarter		YTD		YTD
($ in millions)	2008		2008			2007		2008		2007

Salaries, benefits and other personnel costs	$	619	$	659		$	642	$	1,278	$	1,275

Impairment, fraud and other losses*		1,098		(197	)		14		901		20

Foreclosure costs		61		49			13		110		23

All other		499		501			517		1,000		1,024

Total noninterest expense	$	2,277	$	1,012		$	1,186	$	3,289	$	2,342

*Goodwill impairment and Visa indemnification included within impairment, fraud and other losses.

Personnel costs decreased about 6% compared to the preceding quarter, and 4% compared to the second quarter a year earlier, due to reductions in staffing and lower business volumes, particularly in the mortgage business. Full-time equivalent employees were 30,302 at June 30, 2008 versus 30,841 at March 31, 2008, and 32,445 at June 30, 2007. On a year-to-date basis, personnel costs were about the same for the first half of 2008 and 2007. Cost savings from reduced staffing levels in 2008 were offset by lower deferrals of loan origination costs resulting from the adoption of fair value for certain loans held for sale at the beginning of the year.

Foreclosure costs increased to $61 million in the second quarter, up $12 million from the immediately preceding quarter, and $48 million versus the second quarter a year ago. On a year-to-date basis, foreclosure costs were $110 million in the first half of 2008, up $87 million from the first half of 2007. Foreclosure costs have increased significantly due to more loans proceeding to foreclosure, as well as higher losses realized upon sale of foreclosed properties as a result of declining property values.

All other noninterest expenses were relatively stable between periods as management has worked to control costs.

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Balance Sheet

Loans

Average portfolio loans were $114.1 billion in the second quarter of 2008, $115.4 billion in the preceding quarter and $99.7 billion in the second quarter a year ago. The table shown below summarizes the average balances for both the core and liquidating portfolios, as well as loans held for sale.


	Second Quarter		First Quarter		Second Quarter
($ in millions)	2008		2008		2007

Core portfolio	$	94,880	$	94,183	$	74,870

Liquidating portfolios		19,185		21,196		24,819

Total portfolio loans		114,065		115,379		99,689

Loans held for sale		3,075		4,494		12,615

Continued runoff of the liquidating loan portfolio due to paydowns and charge-offs, as well as a credit card securitization of $374 million, resulted in a somewhat smaller average loan portfolio compared to the preceding quarter. Compared to second quarter a year ago, portfolio loan growth was driven by growth in commercial loans, a late 2007 acquisition, and transfers of formerly held-for-sale loans to portfolio. Average loans held for sale were $3.1 billion in the second quarter of 2008, down $1.4 billion compared to the preceding quarter, and down $9.5 billion compared to the second quarter a year ago. The lower levels of loans held for sale reflects the curtailment of certain mortgage and home equity products and origination channels.

Deposits

Average total deposits were $99.6 billion in the second quarter of 2008, up $2 billion compared to the preceding quarter, and up $9.5 billion compared to the second quarter a year ago. Average core deposits, excluding mortgage escrow and custodial balances, were $84.3 billion in the second quarter of 2008, up $1.1 billion compared to the first quarter of 2008, and up $10.3 billion compared to the second quarter a year ago. Core deposits have increased with continued household growth and expansion as well as a late 2007 acquisition.

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Capital

Total stockholders’ equity was $18.0 billion at June 30, 2008 and tangible stockholders’ equity was $13.3 billion, up $5.9 billion compared to March 31, 2008. During the second quarter of 2008, the Corporation raised $7.0 billion of equity capital by issuing common and contingently convertible preferred shares. The contingently convertible preferred shares will automatically convert into common shares five business days after stockholder approval. The shareholder meeting is scheduled for September 15, 2008. Capital ratios are shown in the table below.


	Second			First			Second
	Quarter			Quarter			Quarter
	2008			2008			2007

Capital Ratios

Tier 1 capital		11.08	%		6.67	%		6.56	%

Total risk-based capital		14.90	%		10.31	%		10.28	%

Tier 1 leverage		10.33	%		6.49	%		6.53	%

Period end equity to assets		11.70	%		8.53	%		8.64	%

Period end tangible equity to assets		8.94	%		5.00	%		5.43	%

National City is by far the best-capitalized bank among its peer group and is the best-capitalized of all major U.S. banks.

Conference Call

Management of National City will host a conference call at 8:00 a.m. (ET) on Thursday, July 24, 2008 to discuss the second quarter 2008 results. Presentation slides to accompany the conference call remarks may be found at http://phx.corporate-ir.net/phoenix.zhtml?c=64242&p=irol-presentations. Interested parties may access the conference call by dialing 1-800-288-8961. Participants are encouraged to call in 15 minutes prior to the call in order to register for the event. The conference call will also be accessible via the Company’s Web site, nationalcity.com/investorrelations. Questions for discussion at the conference call may be submitted any time prior to or during the call by sending an email to investor.relations@nationalcity.com.

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A replay of the conference call will be available from 1:00 p.m. (ET) on July 24, 2008, until midnight (ET) on July 31, 2008. The replay will be accessible by calling 1-800-475-6701 (domestic) or 320-365-3844 (international) using the pass code of 893754 or via the Company’s Web site.

National City Corporation (NYSE: NCC), headquartered in Cleveland, Ohio, is one of the nation’s largest financial holding companies. The company operates through an extensive banking network primarily in Ohio, Florida, Illinois, Indiana, Kentucky, Michigan, Missouri, Pennsylvania, and Wisconsin and also serves customers in selected markets nationally. Its core businesses include commercial and retail banking, mortgage financing and servicing, consumer finance and asset management. For more information about National City, visit the company’s Web site at nationalcity.com.

Forward-Looking Statements

This document contains forward-looking statements. Forward-looking statements provide current expectations or forecasts of future events and are not guarantees of future performance, nor should they be relied upon as representing management’s views as of any subsequent date. The forward-looking statements are based on management’s expectations and are subject to a number of risks and uncertainties. Although management believes that the expectations reflected in such forward-looking statements are reasonable, actual results may differ materially from those expressed or implied in such statements. Risks and uncertainties that could cause actual results to differ materially include, without limitation, the Corporation’s ability to effectively execute its business plans; changes in general economic and financial market conditions including the housing and residential mortgage markets; changes in interest rates; changes in the competitive environment; continuing consolidation in the financial services industry; new litigation or changes in existing litigation; losses, customer bankruptcies, claims and assessments; changes in banking regulations or other regulatory or legislative requirements affecting the Corporation’s business; and changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies. Additional information concerning factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements is available in the Corporation’s Annual Report on Form 10-K for the year ended December 31, 2007, and subsequent filings with the United States Securities and Exchange Commission (SEC). Copies of these filings are available at no cost on the SEC’s Web site at sec.gov or on the Corporation’s Web site at nationalcity.com/investorrelations. Management

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may elect to update forward-looking statements at some future point; however, it specifically disclaims any obligation to do so.

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Unaudited

National City Corporation
CONSOLIDATED FINANCIAL HIGHLIGHTS
(In millions, except per share data)


																												Six Months Ended
	2008						2007												2006									June 30,
	*2nd Qtr*			*1st Qtr*			*4th Qtr*			*3rd Qtr*			*2nd Qtr*			*1st Qtr*			*4th Qtr*			*3rd Qtr*			*2nd Qtr*			*2008*			*2007*
EARNINGS

Tax-equivalent interest income	$	1,886		$	2,132		$	2,381		$	2,360		$	2,255		$	2,218		$	2,270		$	2,298		$	2,243		$	4,018		$	4,473
Interest expense		865			1,063			1,272			1,258			1,159			1,100			1,137			1,148			1,076			1,928			2,259

Tax-equivalent net interest income		1,021			1,069			1,109			1,102			1,096			1,118			1,133			1,150			1,167			2,090			2,214
Provision for loan losses		1,592			1,393			691			368			145			122			325			70			62			2,985			267

Tax-equivalent (NIE) NII after provision for loan losses		(571	)		(324	)		418			734			951			996			808			1,080			1,105			(895	)		1,947
Noninterest income		431			1,138			597			624			764			621			1,702			877			784			1,569			1,385
Noninterest expense		2,277			1,012			1,567			1,396			1,186			1,156			1,208			1,187			1,172			3,289			2,342

(Loss) income before taxes and tax-equivalent adjustment		(2,417	)		(198	)		(552	)		(38	)		529			461			1,302			770			717			(2,615	)		990
Income tax (benefit) expense		(667	)		(35	)		(226	)		(26	)		175			134			452			236			238			(702	)		309
Tax-equivalent adjustment		6			8			7			7			7			8			8			8			6			14			15

Net (loss) income		($1,756	)		($171	)		($333	)		($19	)	$	347		$	319		$	842		$	526		$	473			($1,927	)	$	666

Effective tax rate		(27.5	)%		(17.0	)%		(40.5	)%		(58.4	)%		33.6	%		29.5	%		34.9	%		30.9	%		33.5	%		(26.7	)%		31.7	%
PER COMMON SHARE

Net (loss) income:
Basic		($2.45	)		($.27	)		($.53	)		($.03	)	$	.60		$	.50		$	1.37		$	.87		$	.77			($2.86	)	$	1.10
Diluted		(2.45	)		(.27	)		(.53	)		(.03	)		.60			.50			1.36			.86			.77			(2.86	)		1.09
Dividends paid		.01			.21			.41			.41			.39			.39			.39			.39			.37			.22			.78
Book value		15.07			20.61			21.15			21.86			21.45			22.12			23.06			21.44			20.84
Market value (close)		4.77			9.95			16.46			25.09			33.32			37.25			36.56			36.60			36.19
Average shares:
Basic		722.9			633.4			633.2			588.1			572.7			631.7			611.9			603.8			609.7			678.2			602.1
Diluted		722.9			633.4			633.2			588.1			580.4			640.5			620.7			612.1			618.2			678.2			610.3
PERFORMANCE RATIOS

Return on average common equity		—			—			—			—			11.35	%		8.98	%		24.93	%		16.45	%		15.08	%		—			10.08	%
Return on average total equity		—			—			—			—			11.37			8.99			24.94			16.46			15.10			—			10.09
Return on average assets		—			—			—			—			1.00			.94			2.44			1.51			1.35			—			.97
Net interest margin		2.97	%		3.18	%		3.30	%		3.43	%		3.59			3.69			3.73			3.73			3.73			3.08	%		3.64
Efficiency ratio		156.79			45.84			91.86			80.89			63.76			66.50			42.64			58.59			60.04			89.86			65.08
LINE OF BUSINESS (LOB) RESULTS

Net Income:
Retail Banking	$	151		$	97		$	174		$	172		$	193		$	170		$	129		$	192		$	208		$	248		$	363
Commercial Banking — Regional		(1,103	)		30			83			105			100			128			114			113			106			(1,073	)		228
Commercial Banking — National		(5	)		62			68			45			78			97			77			101			99			57			175
Mortgage Banking		(375	)		(295	)		(346	)		(125	)		24			(26	)		(20	)		34			(51	)		(670	)		(2	)
Asset Management		20			19			24			21			29			27			23			23			30			39			56
Parent and Other		(444	)		(84	)		(336	)		(237	)		(77	)		(77	)		519			63			81			(528	)		(154	)

Total Consolidated National City Corporation		($1,756	)		($171	)		($333	)		($19	)	$	347		$	319		$	842		$	526		$	473			($1,927	)	$	666

LOB Contribution to Diluted Earnings Per Share:
Retail Banking	$	.21		$	.15		$	.28		$	.29		$	.33		$	.27		$	.21		$	.31		$	.34		$	.36		$	.60
Commercial Banking — Regional		(1.53	)		.05			.14			.17			.17			.20			.18			.19			.17			(1.58	)		.37
Commercial Banking — National		(.01	)		.10			.11			.07			.14			.15			.12			.17			.16			.08			.29
Mortgage Banking		(.52	)		(.47	)		(.56	)		(.21	)		.04			(.04	)		(.03	)		.06			(.08	)		(.99	)		—
Asset Management		.03			.03			.04			.03			.05			.04			.04			.03			.05			.06			.09
Parent and Other		(.63	)		(.13	)		(.54	)		(.38	)		(.13	)		(.12	)		.84			.10			.13			(.79	)		(.26	)

Total Consolidated National City Corporation		($2.45	)		($.27	)		($.53	)		($.03	)	$	.60		$	.50		$	1.36		$	.86		$	.77			($2.86	)	$	1.09

Unaudited

National City Corporation
CONSOLIDATED FINANCIAL HIGHLIGHTS (continued)
($ in millions)


																												Six Months Ended
	2008						2007												2006									June 30,
	*2nd Qtr*			*1st Qtr*			*4th Qtr*			*3rd Qtr*			*2nd Qtr*			*1st Qtr*			*4th Qtr*			*3rd Qtr*			*2nd Qtr*			*2008*			*2007*
CREDIT QUALITY STATISTICS

Net charge-offs	$	740		$	538		$	275		$	141		$	98		$	147		$	128		$	117		$	76		$	1,278		$	245
Provision for loan losses		1,592			1,393			691			368			145			122			325			70			62			2,985			267
Loan loss allowance		3,434			2,582			1,762			1,373			1,136			1,104			1,131			932			989
Lending-related commitment allowance		75			67			65			54			61			63			78			80			77
Nonperforming assets		3,126			2,752			1,523			1,211			848			801			732			689			667
Annualized net charge-offs to average portfolio loans		2.61	%		1.88	%		.96	%		.54	%		.39	%		.61	%		.54	%		.48	%		.30	%		2.24	%		.50	%
Loan loss allowance to period-end portfolio loans		3.03			2.23			1.52			1.23			1.14			1.11			1.18			1.00			.98
Loan loss allowance to nonperforming portfolio loans		132.59			114.25			161.55			159.42			202.16			206.08			226.13			198.25			202.14
Loan loss allowance (period-end) to annualized net charge-offs		115.45			119.22			161.24			245.43			291.06			184.68			223.38			200.10			326.17			133.63			230.17
Nonperforming assets to period-end portfolio loans and other nonperforming assets		2.74			2.37			1.31			1.08			.85			.80			.76			.74			.66

CAPITAL AND LIQUIDITY RATIOS

Tier 1 capital⁽¹⁾		11.08	%		6.67	%		6.53	%		6.78	%		6.56	%		7.08	%		8.93	%		7.48	%		7.31	%
Total risk-based capital⁽¹⁾		14.90			10.31			10.27			10.37			10.28			10.13			12.16			10.30			10.20
Leverage⁽¹⁾		10.33			6.49			6.39			6.96			6.53			6.92			8.56			7.13			6.89
Period-end equity to assets		11.70			8.53			8.95			8.98			8.64			9.51			10.40			9.34			8.91
Period-end tangible equity to assets ⁽²⁾		8.94			5.00			5.29			5.29			5.43			6.26			7.77			6.99			6.60
Average equity to assets		11.35			8.76			8.88			8.71			8.83			10.45			9.78			9.16			8.97			10.06	%		9.63	%
Average equity to portfolio loans		15.30			11.62			11.94			12.10			12.27			14.66			14.38			13.03			12.35			13.45			13.45
Average portfolio loans to deposits		114.58			118.23			115.45			111.70			110.74			111.78			110.18			116.64			122.88			116.39			111.25
Average portfolio loans to core deposits		127.65			131.57			130.20			128.17			127.87			128.66			131.69			140.31			146.55			129.59			128.26
Average portfolio loans to earning assets		82.80			85.75			84.60			81.43			81.48			80.79			76.65			79.11			81.32			84.26			81.14
Average securities to earning assets		6.16			6.38			6.58			6.11			5.84			6.34			6.43			6.40			6.24			6.27			6.09

AVERAGE BALANCES

Assets	$	153,852		$	153,032		$	152,566		$	145,095		$	138,587		$	137,810		$	136,893		$	138,434		$	140,019		$	153,442		$	138,201
Portfolio loans		114,065			115,379			113,484			104,439			99,689			98,198			93,124			97,404			101,757			114,722			98,947
Loans held for sale or securitization		3,075			4,494			8,340			12,643			12,615			11,769			17,425			15,065			12,760			3,785			12,194
Securities (at cost)		8,491			8,588			8,826			7,835			7,143			7,704			7,806			7,874			7,802			8,539			7,422
Earning assets		137,755			134,552			134,142			128,249			122,344			121,543			121,488			123,126			125,127			136,153			121,946
Core deposits		89,357			87,691			87,164			81,484			77,964			76,322			70,717			69,419			69,434			88,524			77,147
Purchased deposits and funding		43,361			47,475			47,450			47,093			44,604			43,001			48,917			52,321			54,338			45,419			43,808
Total equity		17,455			13,411			13,554			12,636			12,231			14,398			13,388			12,687			12,565			15,433			13,308

PERIOD-END BALANCES

Assets	$	153,673		$	155,038		$	149,852		$	154,166		$	140,636		$	138,559		$	140,191		$	138,123		$	141,486
Portfolio loans		113,420			115,859			116,022			111,991			99,683			99,566			95,492			92,963			100,973
Loans held for sale or securitization		2,385			4,536			4,290			11,987			14,421			10,693			12,853			19,505			12,964
Securities (at fair value)		9,404			8,449			8,731			8,977			7,024			7,208			7,509			7,906			7,726
Core deposits		91,096			89,135			87,536			86,450			79,043			77,884			73,375			68,788			69,744
Purchased deposits and funding		40,603			48,733			44,822			49,193			45,036			42,897			47,147			51,987			54,069
Total equity		17,981			13,223			13,408			13,843			12,147			13,170			14,581			12,902			12,610

⁽¹⁾ Second quarter 2008 regulatory capital ratios are based upon preliminary data
⁽²⁾ Excludes goodwill and other intangible assets