CHARLOTTE, N.C. — Grandbridge Real Estate Capital LLC announces the retirement of R. Thomas Gracey, Executive Vice President and National Loan Production Co-Manager effective September 1, 2008.

In addition to his role as Executive Vice President and National Loan Production Co-Manager in which he oversaw 12 commercial loan origination offices in the company’s Southern, Carolinas and Florida regions, Mr. Gracey served on the Grandbridge Real Estate Capital’s Board of Managers and Executive Committee.

Prior to his tenure with Grandbridge, Mr. Gracey managed the national loan delivery platform of Laureate Capital. He founded Mortgage Company of Indiana, which Laureate Capital acquired in July 1995. He has been active in commercial mortgage banking since 1956, having held production and management positions with major companies in Indiana, Kentucky, and Missouri.

“Tom played a critical role in managing the production side of our business as well as providing strategic leadership as we successfully expanded Laureate Capital and evolved into Grandbridge. Although he will no longer be a full-time employee, we have persuaded him to retain association with the company in an active consulting role. This will allow Grandbridge to continue benefiting from Tom’s deep knowledge and experience in our business. He will primarily be assisting in our insurance company investor relations, management of our annual lender production goals, and expansion of our product platform and acquisition opportunities. Tom has also graciously agreed to continue serving as a member of Grandbridge’s Board of Managers,” stated Grandbridge CEO Thomas S. Dennard.

“With Tom transitioning into his new role, it is our pleasure to announce that Mr. Gracey’s northern counterpart, Executive Vice President and National Loan Production Co-Manager, John W. Davis has agreed to expand his scope of responsibilities to include oversight of all the company’s loan origination offices. John has enjoyed a distinguished career in our industry. He has substantial hands-on experience managing large and diverse loan origination operations from his days at Eberhart, LJ Melody, Collateral Real Estate Capital and now Grandbridge. Under John’s leadership, we remain committed to our vision of expanding Grandbridge’s production platform and developing the premier sales force in the commercial mortgage banking industry. John will continue as a member of our Executive Committee and Board of Managers,” stated Grandbridge President and COO David A. Roberts.

Charlotte, N.C.-based Grandbridge, one of the largest full-service commercial and multifamily mortgage banking companies in the nation, is a Fannie Mae DUS® (Delegated Underwriting and Servicing) lender, a Freddie Mac Program Plus® seller/servicer, and a MAP-approved participant in multifamily products insured by the Federal Housing Administration.

The company arranges permanent commercial and multifamily real estate loans; services loan portfolios; and provides asset and portfolio management and real estate brokerage services. Grandbridge has a servicing portfolio of more than $22 billion representing 96 capital providers. It closed more than 1,000 transactions in 2007. More information about the company is available at http://www.gbrecap.com.

With $136.4 billion in assets, BB&T Corporation (NYSE: BBT) is the nation’s 14th largest financial holding company. It operates nearly 1,500 financial centers in 11 states and Washington, D.C. More information about the company is available at BBT.com.

Contacts

BUSINESS

Thomas S. Dennard
Grandbridge CEO
704.379.6910

David A. Roberts
Grandbridge President and COO
205.978.1841

MEDIA

Patricia Muse
Grandbridge Marketing
205.978.1139