Exhibit 99.1

                            SUNTRUST CONFERENCE CALL
                                OCTOBER 11, 2004
                                   8:30 AM EST


Operator: Thank you all participants for standing by. Your lines will be placed
on a listen-only mode until the end of today's conference. The call is being
recorded on behalf of SunTrust.

I will now turn the call over to your speaker today, Mr. Gary Peacock. Sir, you
may begin.

Gary Peacock: Thank you. Good morning and welcome to SunTrust's call to discuss
our revisions to first and second quarter 2004 earnings. We appreciate your
joining us.

With me today are Phil Humann and Mark Chancy, our Chief Financial Officer.

First, a few advisories: I'll remind you that any forward-looking statements
made during this presentation are subject to risk and uncertainty. Further, we
have no obligation to update any forward-looking statements to reflect
circumstances or events that occur after the date the forward-looking statements
are made.

If you're interested in factors that could cause our results to differ
materially from any forward-looking statements, they're detailed on our website
and summarized in our press release this morning.

With that, let me turn it over to Phil Humann.




Phil Humann: Thanks, Gary. And thanks to everybody for calling in this morning.
We realize it's a bank holiday, when I suspect you weren't looking for much in
the way of news.

Right up front, I need to tell you that we're not going to be able to take Q&A
on this call. And following the call, neither Gary, Mark nor I will be able to
respond to specific questions about today's release.

Now, the reasons for that are actually quite simple. Specifically, we think the
release speaks for itself and constitutes all we know on the subject of
restatement at this point.

Now I will tell you, I don't like this. But I hope you understand that we are
limited in what we're able to say about the expected restatement, about the
audit committee review or about its impact.

Now, having said that, we thought it was very important to have this call.
First, in today's environment, when an announcement like the one we made can be
easily misinterpreted, we didn't want to just issue a press release without
trying to offer some additional perspective on it.

As you know, we try to be as open and straightforward as we can about
developments at SunTrust. That's real easy when things are going well. But those
who know us know we also try to talk straight when things are not going well.
Now in that vein we will tell you all of what we know with respect to the
restatement at this point, even though it's not all that much beyond what was in
the press release.

I've asked Mark, our Chief Financial Officer, to give you our best sense at this
stage of what led to the expected restatement.




Now, looking beyond the restatement issue, we are cooperating enthusiastically
and fully with the audit committee in their review and are anxious to bring this
matter to a swift and proper conclusion.

We do know already that errors were made. What I can tell you is that we're
determined to understand fully what those errors were and take whatever steps --
I underscore -- whatever steps are necessary to make sure they don't happen
again.

Now, with respect to Sandra Jansky and Jorge Arrieta, the two executives placed
on administrative leave, it's important to note that no final determination of
any improper conduct has been made. Sandra and Jorge's duties will be handled
temporarily within our existing management structure.

Now as we say in the press release, SunTrust has a long history of integrity in
financial management. And I want every one of you to know that we take that
heritage very seriously.

We all know of companies, some in our industry, that, when confronted with a
situation like this, get very defensive and in effect circle the wagons. We're
not going to do that. We're going to manage through this episode in a
responsible manner and are determined to emerge from it with our reputation
intact.

I should also point out that while this clearly is not a positive development
for SunTrust, neither is it the end of the world. It has essentially no customer
impact, nor do I believe it will have any lingering implications for our
strategic priorities or business plans. Now let me turn it over to Mark.




Mark Chancy: Thank you, Phil. And good morning. As you can see from the press
release, the restatement relates to the company's allowance for loan losses
during the first and second quarters of 2004.

To put this issue into context, during 2003, SunTrust enhanced its methodology
for calculating its allowance. These enhancements include a more quantitative
approach to determine the allowance for each of its loan pools. The methodology
also provides management with a better tool to document the decisions
surrounding the adequacy of the allowance. Now, these enhancements were
implemented by SunTrust earlier this year in January of 2004. Now, with that as
background, let me now walk you through the specifics of the process that led to
the need for these restatements.

During preparation of the third quarter financials, the company determined that
an error had been made in an input to the calculation of the allowance
associated with its indirect loan portfolio. This error occurred in both the
first and the second quarters.

Without going into too much detail, the input error related to our use of the
gross charge-off data as opposed to using net charge-offs to augment a baseline
loss assumption for purposes of calculating the reserve for that loan pool. The
result of this was the determination that incremental reserves were required to
support this loan pool. Had we used the correct information, i.e., the net
charge-offs, no upward adjustment would have been required at that time.

To be specific, had the company used net charge-off data in calculating its
reserve of this pool, the provision for loan losses for the first quarter would
have been $24.8 million lower, or $17.4 million after tax. That lower provision
level translates into $0.07 per share for the quarter.




In the second quarter, provision would have been $6.8 million less, or $4.8
million after tax, which is a penny per share for the quarter.

So in combination, SunTrust earnings per share on a restated basis increased
from $2.55 per share to $2.63 for the six-month period ended June 30th, 2004.

Now let me comment on the third quarter. The company's audit committee has begun
an independent review of these errors, the communications that were made by
SunTrust personnel to PWC about the errors and all related matters. As a result,
the company has decided as a matter of prudence that it will delay its third
quarter earnings release until after the completion of this process.

As Phil mentioned, as soon as the review is complete and we are able to, we will
communicate with you again.

I hope that you now understand the context of this restatement. The company will
be working hard in the coming weeks to facilitate the audit committee's efforts
so that we can conclude the third quarter results and speak with you again.

Now let me turn it back to Phil.

Phil Humann: Thanks, Mark. Let me just simply wrap up by thanking you again for
calling in and also reminding you that we believe that SunTrust remains strong.
We're in great financial competitive shape and our people are doing a great job.

And an earnings restatement and even an audit committee review, we don't think
changes any of that one iota.

Thanks again for calling in.