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| Huntington Bancshares Selects Stonehenge Partners To Manage Corporate Mezzanine Fund |
COLUMBUS, Ohio, Oct. 1 /PRNewswire-FirstCall/ -- Huntington Bancshares Incorporated (Nasdaq: HBAN) ( http://www.huntington.com ), through its wholly owned subsidiary, Huntington Mezzanine Opportunities Inc., has selected Columbus- based, Stonehenge Mezzanine Partners LLC as its asset manager to develop and manage a new private corporate mezzanine investment fund. This fund will provide corporate mezzanine financing in transaction amounts up to $10 million to assist middle market companies primarily in the Midwest with growth or acquisition strategies. "The collaboration with Stonehenge opens the door to new opportunities for Huntington's commercial customers," said Tom Hoaglin, chairman, president and chief executive officer of Huntington Bancshares Incorporated. "Establishing this capability is consistent with our strategy of bringing a full range of financing alternatives, often associated only with larger banks, to our local markets. We are excited about the potential this has to meet the needs of this underserved market." "We are very pleased to form this strategic alliance with Huntington," said Daniel J. Jessee, principal with Stonehenge Mezzanine Partners. "There is a clear need and demand for private financing in today's middle market business environment, and mezzanine financing is often not available to middle market companies. Teaming up with Huntington allows us to provide a financial solution for these businesses." This new corporate mezzanine fund compliments Huntington's existing commercial real estate mezzanine fund established in 1998, Huntington Real Estate Investment Company which is managed internally by David Abshier, managing director of Huntington Capital Corp. a wholly owned investment banking subsidiary of Huntington Bancshares Incorporated. About Huntington Huntington Bancshares Incorporated is a $25 billion regional bank holding company headquartered in Columbus, Ohio. Through its affiliated companies, Huntington has more than 136 years of serving the financial needs of its customers. Huntington provides innovative retail and commercial financial products and services through more than 300 regional banking offices in Indiana, Kentucky, Michigan, Ohio and West Virginia. Huntington also offers retail and commercial financial services online at http://www.huntington.com ; through its technologically advanced, 24-hour telephone bank; and through its network of more than 900 ATMs. Selected financial service activities are also conducted in other states including: Dealer Sales offices in Florida, Tennessee, Pennsylvania and Arizona; Private Financial Group offices in Florida; and Mortgage Banking offices in Florida, Maryland and New Jersey. International banking services are made available through the headquarters office in Columbus and additional offices located in the Cayman Islands and Hong Kong. About Stonehenge Headquartered in Columbus, Ohio, Stonehenge Mezzanine Partners, LLC, an affiliate of Stonehenge Financial Holdings, is one of the largest private capital firms in Ohio. Affiliated companies include Stonehenge Partners, Stonehenge Capital Corporation, Rockbridge Capital, Inc., and Stonehenge Services Corporation. Entities related to Stonehenge Financial Holdings manage $900 million in committed private capital. Forward-looking Statement This press release contains certain forward-looking statements, including certain plans, expectations, goals, and projections, which are subject to numerous assumptions, risks, and uncertainties. A number of factors, including but not limited to those set forth under the heading "Business Risks" included in Item 1 of Huntington's Annual Report on Form 10-K for the year ended December 31, 2001, and other factors described from time to time in Huntington's other filings with the Securities and Exchange Commission, could cause actual conditions, events, or results to differ significantly from those described in the forward-looking statements. All forward-looking statements included in this news release are based on information available at the time of the release. Huntington assumes no obligation to update any forward- looking statement.SOURCE Huntington Bancshares Incorporated
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