DBRS Places National City’s Ratings Under Review – Negative; Short-Term Bank Rating UR - Developing

DBRS has today placed all ratings of National City Corporation (NatCity or the Company) and its subsidiaries Under Review with Negative Implications except for National City Bank’s Short-Term Instrument’s rating, which has been placed Under Review – Developing.

This rating action follows the announcement by PNC Financial Services Group, Inc. (PNC, Issuer & Senior Debt at A (high) LT Debt Under Review - Negative ) of its intent to acquire NatCity in a stock transaction valued at approximately $5.6 billion ($2.23 per share) including a $384 million cash payment to certain warrant holders. Subject to regulatory and shareholder approvals, the transaction is expected to close by December 31, 2008.

If PNC completes the transaction as proposed, all NatCity ratings would be equalized with those of PNC.

For more information on DBRS’s opinion on the resultant merged entity, please see our PNC press release from today (see link below).