Notice of Filing Securities Class Action against Synovus Financial Corp.

SAN DIEGO--(Business Wire)--
Coughlin Stoia Geller Rudman & Robbins LLP ("Coughlin Stoia")
(http://www.csgrr.com/cases/synovus/) today announced that a class action has
been commenced on behalf of an institutional investor in the United States
District Court for the Northern District of Georgia on behalf of purchasers of
Synovus Financial Corp. ("Synovus") (NYSE:SNV) common stock during the period
between January 24, 2008 and January 21, 2009 (the "Class Period").

If you wish to serve as lead plaintiff, you must move the Court no later than 60
days from today. If you wish to discuss this action or have any questions
concerning this notice or your rights or interests, please contact plaintiff`s
counsel, Darren Robbins of Coughlin Stoia at 800/449-4900 or 619/231-1058, or
via e-mail at djr@csgrr.com. If you are a member of this class, you can view a
copy of the complaint as filed or join this class action online at
http://www.csgrr.com/cases/synovus/. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their choice, or may
choose to do nothing and remain an absent class member.

The complaint charges Synovus and certain of its officers and directors with
violations of the Securities Exchange Act of 1934. Synovus is a diversified
financial services company and a registered bank holding company.

The complaint alleges that during the Class Period, defendants issued materially
false and misleading statements regarding the Company`s business and financial
results and engaged in improper behavior which harmed Synovus` investors by
failing to disclose the extent of its large exposure to the Sea Island Company
("Sea Island"), a resort in Georgia, and the deteriorating condition of Sea
Island. The Company also failed to adequately and timely record losses for its
impaired loans, causing its financial results to be materially false. As a
result of defendants` false statements, Synovus stock traded at artificially
inflated prices during the Class Period, reaching a high of $13.49 per share on
February 1, 2008.

Then, on January 22, 2009, Synovus reported a net loss for the fourth quarter of
2008 of $637 million, or $1.93 per share. The fourth quarter 2008 results
included provision expense of $364 million and a $443 million non-cash goodwill
impairment charge. On this news, Synovus stock fell to as low as $4.52 before it
closed at $4.75 per share on January 22, 2009.

According to the complaint, the true facts, which were known by the defendants
but concealed from the investing public during the Class Period, were as
follows: (a) defendants` assets contained hundreds of millions of dollars worth
of impaired and risky securities, many of which were backed by real estate that
was rapidly dropping in value for which Synovus had failed to record adequate
loan loss reserves; (b) prior to and during the Class Period, Synovus had been
extremely aggressive in granting credit, including to Sea Island, where top
officers of each company sat on each other`s boards and whose enormous
development projects were highly risky and would be enormously problematic if
the value of residential real estate did not continue to increase and if the
tourism market slowed, which was then already happening; (c) Synovus` largest
customer, Sea Island, was performing extremely poorly; (d) defendants failed to
properly account for Synovus` real estate loans, failing to reflect impairment
in the loans; (e) Synovus` balance sheet included hundreds of millions of
dollars in impaired goodwill which had not been recorded as losses on a timely
basis; (f) Synovus had not adequately reserved for loan losses and goodwill
impairment such that its financial statements were presented in violation of
Generally Accepted Accounting Principles; and (g) Synovus was not on track to
report the earnings being forecast for it by analysts covering the Company and
relying on Company statements.

Plaintiff seeks to recover damages on behalf of all purchasers of Synovus common
stock during the Class Period (the "Class"). The plaintiff is represented by
Coughlin Stoia, which has extensive experience in prosecuting investor class
actions and actions involving financial fraud.

Coughlin Stoia Geller Rudman & Robbins LLP
Darren J. Robbins, 800-449-4900
djr@csgrr.com

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