F.N.B. Capital Corporation Successfully Exits MLP Steel Investment

F.N.B. Capital Corporation, a banking subsidiary of F.N.B. Corporation FNB, today announced that it successfully exited its investment in the Scottdale, PA-based MLP Steel, LLC. In January 2008, F.N.B. Capital Corporation provided capital to Jim Philipkosky of MLP Capital Partners, LLC when he led a change of control transaction to purchase MLP Steel, formerly known as Marwas Steel Company. Despite uncertain economic times, MLP Steel has performed well over the past three years, as evidenced by the company's successful outcome. Stephen Gurgovits, Jr., President and CEO of F.N.B. Capital Corporation, commented, "It has been a rewarding experience to partner with Philipkosky in his efforts as he and members of MLP Steel's management team have successfully navigated the company during unpredictable economic times. It is great to see a local company thriving in the steel industry, and we are proud to have been part of this success."