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Thu Sep 10, 2009 10:20am EDT

* Reuters is not responsible for the content in this press release.

Joint Venture - Reliance Asset Advisors, LLC Formed at Request of Local Business

Leaders

WILMINGTON, N.C.--(Business Wire)--

Reliance Trust Company, an Atlanta-based financial services company, announced

today that it has formed a new joint venture, Reliance Asset Advisors, LLC to

serve the trust, wealth management and financial service needs of the Greater

Wilmington, North Carolina market. This new joint venture has been started in

partnership with several long-time Wilmington business leaders.

"The formation of Reliance Asset Advisors is the manifestation of Reliance

Trust`s long stated strategy of developing a direct retail presence in key

Coastal markets throughout the South East. We believe that markets such as

Wilmington are currently underserved and present a great opportunity for

Reliance which is big enough to provide all the needed products and services and

small enough to provide the kind of personal service that clients want and

demand," said Anthony Guthrie, president of Reliance Trust. "In addition, we

have found tremendous local business partners who desire a more personalized

approach to delivering financial services who share our belief in the future of

Wilmington."

It is the stated goal of Reliance Asset Advisors to provide access to best in

class financial services and wealth management products and services while bring

the highest levels of customer service to the market place. Services will

include:

* Investment management services

* Local Trust services and Administration

* Financial planning services

* Retirement services to include 401(k) rollover and IRA services.

"We are excited about our entrance into Wilmington," said Andy Crane, Managing

Principal of Reliance Asset Advisors. "We have spent several years evaluating

how we could expand our proven lines of business and leverage the success we

have already experienced in other areas of the country. The formation of

Reliance Asset Advisors, in conjunction with Reliance Trust, perfectly fits our

goals in that direction. We are pleased to have strong partners who share our

vision and mission. Given the current impact of mergers, consolidations and

closings the time is right for a new provider."

Wilmington partners include Harold W. Wells, III and Mort Neblett.

The office is located in downtown Wilmington at Three North Third Street in the

Wells Insurance building.

Reliance Financial Corporation is a privately held, Atlanta-based, diversified

financial services and wealth management company with more than $65 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 outsourcing, wealth management, investment and

trust and asset management services to individuals, corporations and

institutions, as well as to other banks, brokerage firms and insurance

companies. Please visit www.relico.com for information on all of the company`s

programs and services or call 910-338-2900.

Reliance

Tony Greene, 678-274-1693

tgreene@relico.com

Copyright Business Wire 2009

http://www.reuters.com/article/2009/09/10/idUS142423+10-Sep-2009+BW20090910

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