In a joint initiative, Fifth Third announces a $1.25 billion commitment to
                        community development in Ohio

    CINCINNATI, May 13 /PRNewswire/ -- Fifth Third Bank (Nasdaq: FITB) today
announced a $1.25 billion, two-year plan to provide mortgage and small
business lending opportunities for Ohio residents.  The plan was developed
jointly with COHHIO, a not-for-profit entity comprised of 550 members focused
on affordable housing in Ohio, and its Steering Committee, comprised of
12 organizations focused on community reinvestment activities:  Columbus
Housing Partnership, Columbus Urban League, Community Action Agency of Scioto
County, Greater Cincinnati Coalition for the Homeless, Metropolitan Strategy
Group, Ohio Association of
Community Action Agencies, Ohio CDC Association, Ohio Fair Housing Congress,
Ohio Regional Development Corporation Association, Ohio State Legal Services,
Rural Opportunities, and the Toledo Fair Housing Center.
    "Fifth Third, COHHIO and OCRP are truly entering a mutually beneficial
arrangement," states Robert P. Niehaus, Executive Vice President, Fifth Third.
"We are in a unique position to leverage our leadership position as one of
Ohio's largest home mortgage and small business lenders to help stimulate
additional borrowing opportunities for low- and moderate-income families, and
businesses, throughout Ohio.  This initiative will help us communicate to
fellow Ohioans the availability of loans at Fifth Third Bank."
    He continues, "This agreement provides for ongoing, open dialogue with the
initiative's entities in order to build long-standing partnerships which will
assist low- to moderate-income residents and the small businesses in those
areas seeking financing.  These groups represent invaluable connections for
Fifth Third.  Together, Fifth
Third, COHHIO and OCRP will work to identify community reinvestment
opportunities throughout Ohio!"
    Bill Faith, COHHIO Executive Director, offers, "We are pleased to have
been successful in collaborating with the State of Ohio's third largest
financial institution.  This announcement is a demonstration of Fifth Third's
commitment to addressing community development needs throughout Ohio, and it
helps the Bank solidify and focus on aggressive lending goals for low- and
moderate-income individuals, minorities and small businesses.  We are proud to
have reached this agreement for such a worthwhile initiative.  This initiative
encompasses many of the community development endeavors which were pursued by
State Savings Bank of Columbus and Citizens Federal of Dayton.  Fifth Third is
in the process of acquiring these institutions."

    Mortgage Lending
    The agreement publicizes Fifth Third's goal of increasing home purchase,
home improvement and refinance loan goals to low- to moderate-income
borrowers, minority borrowers and borrowers in low- and moderate-income census
tracts.  "This will provide $1 billion in new home, home improvement and
refinancing loans over the next two years," reports Niehaus.  "In addition,
our 'Home Sweet Home' affordable mortgage product shall offer flexible
underwriting standards, no requirement for private mortgage insurance, and a
low downpayment requirement of only 3%."
    He continues, "Our Northwestern and Western Ohio affiliate banks will join
Fifth Third Bank of Columbus in becoming members of the Federal Home Loan
Bank, which will enhance the availability of housing resources.  We will also
continue to identify and financially support not-for-profit entities that
provide pre-purchase and/or post-purchase counseling to first-time home buyers
who are seeking to become homeowners."
    Fifth Third will also participate in an Individual Development Account
(IDA) program, which creates a matching fund product for low- and
moderate-income families.  Under the program, the Bank will provide $50,000 to
assist families in establishing a savings and investment plan for
homeownership.  IDAs assist families who qualify for a mortgage loan, but who
don't have the downpayment.  The IDA is opened with funds from the Bank, and
the homeowner matches the funds.

    Small Business Lending
    "With this agreement," Niehaus reports, "Fifth Third expects to make over
$250 million in loans available to Small and Emerging Businesses to help Ohio
entrepreneurs succeed.  We will continue to partner with the Small Business
Administration, and work through our extensive Banking Center network to seek
and identify those entities seeking funding."

    Services
    This initiative also reaffirms Fifth Third's commitment to provide access
to banking services in low- and moderate-income communities through 60 of its
over 300 Banking Centers in Ohio.

    Investments
    Today's announcement also provides for Fifth Third's investment of
$7 million in Low Income Housing Tax Credit (LIHTC) Projects.  The Bank will
invest as a limited partner in those ventures that provide new and/or
renovated housing.  Fifth Third shall continue its long history of supporting
community development projects by committing $2.2 million in grants from the
Fifth Third Foundation and the Jacob G. Schmidlapp Charitable Trusts to
community-based organizations that enable capacity building among affordable
housing advocates, community and economic development organizations, homeless
service organizations and fair housing agencies.

    Minority Internships
    Fifth Third will also recruit and hire minority college students for paid
summer internships who have an interest in pursuing careers in the banking
industry.  Fifth Third has committed to hire 15 students annually.  Regina G.
Livers, Fifth Third Bank Vice President of Community and Employee Relations,
states, "We believe this program represents an excellent opportunity to expose
minority students to the banking industry and career opportunities at Fifth
Third."
    Founded in 1858, Fifth Third Bank is headquartered in Cincinnati, Ohio.
The Bank is one of 11 affiliates of Fifth Third Bancorp, which has
$22.9 billion in assets, 412 full-service Banking Centers including 101 Bank
Mart(R) locations open seven days a week inside select grocery stores and
1,027 Jeanie(R) ATMs in Ohio, Kentucky, Indiana and Florida.  Fifth Third's
financial strength continues to be recognized by rating agencies with deposit
ratings AA- and Aa2 and commercial paper ratings of A1+ and P1 from Standard &
Poor's and Moody's, respectively.  Fifth Third operates four main businesses:
Retail, Commercial, Investment Advisors and Midwest Payment Systems, the
Bank's data processing subsidiary.
    Bancorp investor information can be accessed on the Internet at
http://www.53.com.  Press releases are available by fax at no charge by calling
800-758-5804, extension 281775.  The company's common stock is traded in the
over-the-counter market through the Nasdaq National Market under the symbol,
"FITB."

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CONTACT:
Roberta R. Jennings of Fifth Third Bancorp,
513-579-4153; or Bill Faith of Ohio Community Reinvestment
Project, 614-280-1984

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