WL Wilmington Trust Corp. (DE)

Wilmington Trust Corporation (NYSE:WL), a leading provider of specialised trust, agency, and administrative services to corporations worldwide, announced today the latest expansion of its Corporate Client Services (CCS) business in Europe with the acquisition of Amaco (Luxembourg) S.A., a Luxembourg-based supplier of entity management services. The organisation will be known as Wilmington Trust SP Services (Luxembourg) S.A. The acquisition of the Luxembourg business of Amaco Management Services, a corporate trust provider based in the Netherlands, extends Wilmington Trust�s capabilities for corporate clients and gives it a physical presence in another major European financial centre. Wilmington Trust�s other European offices are in London, England; Dublin, Ireland; and Frankfurt, Germany. The acquisition follows several strategic investments Wilmington Trust made in CCS in 2006, including the opening of the Frankfurt office, the expansion of its business in the Cayman Islands through an acquisition, and the creation of Wilmington Trust Conduit Services, LLC to serve the collateral administration and reporting needs of collateralized debt obligations (CDOs), the fastest-growing area of the structured finance industry. �Luxembourg�s central location in Europe and its favourable legal and tax environments have long made it an attractive jurisdiction for corporate business,� said Wilmington Trust chairman and CEO Ted T. Cecala. �Over the past several years, Europe has been an increasingly significant source of CCS revenue. �This acquisition builds on that momentum and reflects our strategy to invest in businesses with excellent growth potential.� Beyond serving as a preferred international jurisdiction for entity management services, Luxembourg is also an attractive location for other specialised services that CCS provides to corporate clients such as investment managers, captive insurance companies, and many structured finance products, including CDOs. As a result, Wilmington Trust�s presence in Luxembourg is expected to benefit the CCS business as a whole. Amaco�s entity management services in Luxembourg consist of management, domiciliation, accounting, and director services for international holding and finance companies. As independent service providers, both Amaco (Luxembourg) S.A. and Wilmington Trust�s CCS group are free from potential business conflicts that can arise when providers also offer investment banking and lending services to their corporate clients. �Beyond extending our capabilities in Europe, this acquisition reinforces our competitive advantage of being an independent, conflict-free service provider,� said Christophe Schroeder, managing director and head of Wilmington Trust�s CCS business in Europe. �This business approach is highly valued by corporate clients and makes for a strong cultural fit between our respective organisations.� Amaco (Luxembourg) S.A. employs eight staff members, all of whom will be retained by Wilmington Trust. Terms of this acquisition were not disclosed. Its associated revenue and expenses will be consolidated into Wilmington Trust�s financial statements. It is anticipated that the acquisition will have a neutral effect on Wilmington Trust�s earnings in 2007. Wilmington Trust�s CCS business provides specialised trust, administrative, and investment management services for national and multinational institutions. Its entity management services help clients maintain �nexus,� or legal residency, in jurisdictions around the globe that offer favourable legal and tax environments. Its capital markets services are integral to many complex financing structures, including asset-backed securitisations. CCS�s retirement plan services provide trustee and custodial services for pension plans, 401(k) plans, and other corporate plans. Wilmington Trust Corporation (NYSE:WL) is a financial services holding company that provides Regional Banking services throughout the Delaware Valley region, Wealth Advisory Services for high-net-worth clients in 36 countries, and Corporate Client Services for institutional clients in 86 countries. Its wholly owned bank subsidiary, Wilmington Trust Company, which was founded in 1903, is one of the largest personal trust providers in the United States and the leading retail and commercial bank in Delaware. Wilmington Trust Corporation and its affiliates have offices in California, Connecticut, Delaware, Florida, Georgia, Maryland, Nevada, New Jersey, New York, Pennsylvania, South Carolina, Vermont, the Cayman Islands, the Channel Islands, London, Dublin, Frankfurt, and Luxembourg. For more information, visit www.wilmingtontrust.com.