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TheStreet Open House

Synovus Announces Early Tender Results

Synovus Financial Corp. (NYSE: SNV) today announced that as of 5:00 p.m., New York City time, on February 21, 2012 (the “Early Tender Time”), an aggregate principal amount of approximately $145.6 million of its outstanding 4.875% Subordinated Notes due February 15, 2013 (the “2013 notes”), representing approximately 70% of the outstanding principal amount, had been tendered (and had not been validly withdrawn) under the previously announced cash tender offer for such notes.

Synovus expects to accept and make payment today for all of the 2013 notes that were validly tendered and not validly withdrawn on or prior to the Early Tender Time. Holders of 2013 notes who validly tendered (and did not validly withdraw) their 2013 notes at or before the Early Tender Time are eligible to receive $1,000 per $1,000 principal amount of 2013 notes tendered, and accrued and unpaid interest thereon.

The tender offer will expire at 11:59 p.m. (New York City time) on March 6, 2012, unless the tender offer is earlier terminated or extended (as may be extended, the “Expiration Time”). The tender offer is being made exclusively to holders of the 2013 notes pursuant to an offer to purchase dated February 7, 2012 (the “Offer to Purchase”), which sets forth the terms and conditions of the tender offer.

Holders who have not already tendered all of their 2013 notes may still tender such notes at any time at or before the Expiration Time. Holders who tender their 2013 notes after the Early Tender Time but at or before the Expiration Time will receive $970 per $1,000 principal amount of 2013 notes tendered, plus accrued and unpaid interest thereon. There are no withdrawal rights with respect to the tender of 2013 notes after the Early Tender Time, except as may be required by law. Synovus expects to accept for purchase, promptly following the Expiration Time, all 2013 notes tendered after the Early Tender Time but at or before the Expiration Time, subject to the terms and conditions described in the Offer to Purchase.

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