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Press release from Business Wire

Morgan Keegan Announces Completion of Voluntary Auction Rate Securities Repurchase

Wednesday, June 29, 2011

Morgan Keegan Announces Completion of Voluntary Auction Rate Securities Repurchase14:51 EDT Wednesday, June 29, 2011 MEMPHIS, Tenn. (Business Wire) -- Morgan Keegan & Company, Inc. is pleased to announce the final phase of the firm's voluntary repurchase program for auction rate securities. With the completion of this final tender offer during the third quarter of 2011, Morgan Keegan will repurchase all remaining auction rate securities sold by the firm and held by retail investors in Morgan Keegan accounts. The tender will include auction rate securities issued by Jefferson County, Alabama. This will conclude the voluntary program that Morgan Keegan initiated in early 2009 to restore liquidity to retail investors who had purchased approximately $2 billion of auction rate securities through the firm. Participants in the repurchase program have not lost a penny on their auction rate investments – the program returned 100% of principal and interest. Morgan Keegan will continue to work on a best efforts basis to address the liquidity needs of institutional investors. “We have been committed to restoring liquidity to our clients since the broad failure in the auction rate markets and, with the conclusion of our voluntary repurchase program and a recent favorable court ruling on this matter, we are pleased to bring this to a close,” said John Carson, CEO of Morgan Keegan. About Morgan Keegan & Company, Inc. Morgan Keegan & Company, Inc., one of the nation's largest regional full-service brokerage and investment banking firms, is the securities brokerage arm of Regions Financial Corporation (NYSE: RF). Headquartered in Memphis, Tenn., Morgan Keegan serves individual and institutional investors in over 300 offices in 20 states. Additional information about Morgan Keegan and Regions — a member of the S&P 500 Index — can be found here and at Morgan Keegan & Company, Inc.Eric Bran,