Reliance Financial Corporation Receives Approval for a Delaware Charter to Offer Clients Delaware Trust Powers

ATLANTA, Nov. 1, 2011 /PRNewswire/ -- Reliance Financial Corporation, a diversified financial services and wealth management company with more than $86 billion in assets under management and administration, announced today that it received approval for a Delaware charter for Reliance Trust Company of Delaware, a Delaware limited purpose trust company. With the opening of the new office and the establishment of the trust company, Reliance Trust Company of Delaware will be able to offer the benefit of Delaware trust powers to its clients.

"We established Reliance Trust Company of Delaware to complement our suite of wealth management services," said Jim Maxwell, Chairman, CEO and President of Reliance Financial Corporation. "We are committed to providing our clients with the best products and services available. Opening an office in Delaware was the next step in offering our clients the tremendous advantages that come from establishing a Delaware trust."

Tony Guthrie, CEO and President of Reliance Trust Company added that the decision also allows Reliance Trust to expand its suite of product and service offerings to our wealth management clients across the country.

David G Bakerian, President and CEO of the Delaware Bankers Association commented, "The State of Delaware, being a recognized leader in the highly competitive world of the trust industry, is fortunate that Reliance Trust has chosen to set up operations here. The Delaware Bankers Association welcomes the decision and looks forward to working with the company in the near future."

"Delaware provides Reliance Trust with a range of legal and business advantages that facilitate trust and financial planning strategies ideally suited for wealthy individuals, families and closely-held business owners," said Michael Roberts, Executive Vice President of Reliance Trust and President of Reliance Trust Company of Delaware. "Delaware is a trust-friendly jurisdiction with a sophisticated and well established body of trust law and unique income tax advantages."

Delaware Reliance Trust professionals will contribute their expertise as part of a client's team of portfolio managers, account administrators and senior and strategic advisors, leveraging the whole team's collective investment knowledge and strategic advice. The new office is located at 200 Bellevue Parkway, Suite 220 in Wilmington, Delaware; the phone number is 302-246-5400 or 888-803-7466.

About Reliance Financial Corporation

Reliance Financial Corporation is a privately held, Atlanta-based, diversified financial services and wealth management company with more than $86 billion in assets under management and administration.  Reliance conducts business throughout the United States through its trust company (one of the largest independent trust companies in the country), subsidiaries and affiliated offices. Reliance offers a full array of trust and wealth management, investment, retirement plan and outsourcing services to individuals, corporations and institutions, as well as to other banks, brokerage firms and insurance companies. Please visit www.reliance-trust.com for information on all of the company's programs and services.

SOURCE Reliance Financial Corporation

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