N@N

COLUMBUS, Ga.--([ BUSINESS WIRE ])--Synovus Financial Corp. (NYSE: SNV) today announced that as of 5:00 p.m., New York City time, on February 21, 2012 (the aEarly Tender Timea), an aggregate principal amount of approximately $145.6 million of its outstanding 4.875% Subordinated Notes due February 15, 2013 (the a2013 notesa), representing approximately 70% of the outstanding principal amount, had been tendered (and had not been validly withdrawn) under the previously announced cash tender offer for such notes.

Synovus expects to accept and make payment today for all of the 2013 notes that were validly tendered and not validly withdrawn on or prior to the Early Tender Time.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 aExpiration Timea). The tender offer is being made exclusively to holders of the 2013 notes pursuant to an offer to purchase dated February 7, 2012 (the aOffer to Purchasea), 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.

J.P. Morgan Securities LLC is serving as dealer manager (the aDealer Managera) for the tender offer.

The tender offer is being effected pursuant to the Offer to Purchase and related letter of transmittal (aLetter of Transmittala). Holders of the 2013 notes are urged to read carefully the Offer to Purchase and Letter of Transmittal before making any decision with respect to the tender offer. Questions regarding the tender offer may be directed to the Dealer Manager at (866) 834-4666 (toll-free) or (212) 834-4811. Copies of the Offer to Purchase and Letter of Transmittal may be obtained upon request by contacting the tender agent and information agent (the aTender Agenta and aInformation Agenta) for the tender offer, D.F. King & Co., Inc., 48 Wall Street, 22nd Floor, New York, New York 10005, Attn: Elton Bagley; banks and brokers call collect (212) 269-5550, all others call toll free (800) 967-4617.

This news release shall not be construed as an offer to purchase or a solicitation of an offer to purchase any of the 2013 notes or any other securities. Synovus, subject to applicable law, may amend, extend or terminate the tender offer and may postpone the acceptance for purchase of, and payment for, the 2013 notes so tendered. The tender offer is not being made in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the tender offer is required to be made by a licensed broker or dealer, they shall be deemed to be made on behalf of Synovus by the Dealer Manager. None of Synovus, the Dealer Manager, the Information Agent or the Tender Agent makes any recommendation as to whether holders of the 2013 notes should tender their 2013 notes pursuant to the tender offer.

About Synovus

Synovus Financial Corp. is a diversified financial services company and a registered bank holding company based in Columbus, Georgia. Synovus provides integrated financial services including commercial and retail banking, financial management, insurance and mortgage services to its customers through 30 locally-branded banking divisions of its wholly owned subsidiary bank, Synovus Bank, and other offices in Georgia, Alabama, South Carolina, Florida and Tennessee.