Standard & Poor's Assessment Of Commercial Credit Models Completed For PNC Bank

NEW YORK March 15, 2005--Standard & Poor's Risk Solutions has completed
an independent review of PNC Bank's commercial risk rating models. The bank had developed the commercial credit models as part of a broader initiative to enhance capital measurement methodologies for key elements of the commercial credit portfolio, and turned to Risk Solutions for an external review. Credit models form part of the internal ratings systems key for meeting the requirements of Basel II and an independent review of credit models is a vital part of Basel II validation.

"The assessment was designed to provide PNC with an objective third-party
validation of the appropriateness of techniques used in developing its
commercial credit models, as well as the data applied to the process,"
commented Alan McCrum, Senior Vice President and a senior strategist in PNC
Bank's portfolio management group. "We were very specific in what we requested
and found Standard & Poor's Risk Solutions to be responsive and the results
from the assessment to be actionable."

"Given PNC's progress in developing its commercial credit models, the
bank was able to leverage Risk Solutions' focus on internal ratings systems
and credit risk modeling," said Darren Davies, Managing Director at Standard &
Poor's Risk Solutions. "We are pleased that we were able to assist the bank
with this important project and are in advanced discussions with a number of
institutions that involve similar services."

Providing a rich variety of advanced tools and services, Standard &
Poor's Risk Solutions helps clients worldwide to develop, enhance, and validate their credit assessment processes, collect and analyze data, model credit risk, and train staff. Risk Solutions leverages Standard & Poor's experience in credit assessment to help you manage your credit activities with confidence.

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