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Susquehanna Bancshares, Inc. Announces Pricing Of Public Offering Of Senior Notes

Susquehanna Bancshares, Inc. (“Susquehanna”) (NASDAQ: SUSQ) announced today that it has priced an underwritten public offering of $150 million aggregate principal amount of 5.375% senior notes due 2022. The offering is expected to close on August 13, 2012, subject to customary closing conditions.

Susquehanna expects to use the net proceeds from the offering, which are expected to be approximately $148.7 million, along with available cash: (i) to cause the redemption of all of the outstanding 9.375% Capital Securities, Series I, having an aggregate liquidation amount of approximately $125 million issued in December 2007 by Susquehanna Capital I, an affiliated Delaware statutory trust, (ii) to cause the redemption of all of the outstanding 11% Cumulative Trust Preferred Securities, Series II, maturing in March 2040 and having an aggregate liquidation amount of approximately $50 million issued in March 2010 by Susquehanna Capital II, another affiliated Delaware statutory trust, (iii) to fund a redemption of certain subordinated notes having an aggregate principal amount of approximately $21 million originally issued by Tower Bancorp, Inc. that Susquehanna acquired in February 2012, and (iv) for general corporate purposes.

J.P. Morgan Securities LLC is acting as sole book-running manager for the offering, Jefferies & Company, Inc. is acting as lead manager for the offering, and Keefe, Bruyette & Woods, Inc. is acting as co-manager for the offering. A registration statement relating to the notes has been filed with the Securities and Exchange Commission and has become effective. This release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the notes in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state. The notes offering may be made only by means of a prospectus and a related prospectus supplement, copies of which may be obtained by contacting J.P. Morgan Securities LLC at (212) 834-4533.

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