Fifth Third Plans to Repay TARP Preferred Shares

Fifth Third Bancorp FITB today announced the commencement of a public offering of $1.7 billion of its common stock. The shares will be issued pursuant to a prospectus supplement filed as part of an existing shelf registration statement filed with the Securities and Exchange Commission on form S-3. Fifth Third intends to use the proceeds, together with the net proceeds of a planned senior debt offering and other available funds, to repurchase in full all 136,320 shares of its Series F Preferred Stock issued to the U.S. Treasury under its Troubled Asset Relief Program ("TARP") Capital Purchase Program, after notification to and approval by the U.S. Treasury.