Comerica Incorporated to Acquire Sterling Bancshares for $10 per Share

Comerica Incorporated CMA and Sterling Bancshares, Inc. SBIB today announced that they have entered into a definitive agreement under which Comerica will acquire all of the outstanding shares of common stock of Sterling in a stock-for-stock transaction. Under terms of the agreement, each outstanding share of Sterling common stock will be exchanged for 0.2365 shares of Comerica common stock upon closing. Based on Comerica's 15-day average NYSE closing common share price through January 11, 2011 of $42.28, the transaction values each share of Sterling common stock at $10.00, or an aggregate implied value of approximately $1,027 million in Comerica common shares. The closing share price of Sterling common stock on the NASDAQ on January 14, 2011 was $7.70.