Grand Rapids, Michigan -- On November 29, 1999, Standard & Poor's announced that it

would add Old Kent Financial Corporation to the S&P 500 Index effective with the close of trading

on December 1, 1999. Standard & Poor's selects companies for inclusion in the S&P 500 Index

based on an extensive screening process that includes a rigorous analysis of the financial and

operating condition of the company and the trading activity and ownership characteristics of the

company's outstanding common stock. Companies selected for the S&P 500 Index represent

important industry segments within the U.S. economy. The S&P 500 Index is a market-value

weighted index. It contains 500 different common stocks and is a leading benchmark for

performance measurement of the U.S. equity markets.

        In reacting to the announcement, David J. Wagner, Chairman, President and CEO of

Old Kent Financial Corporation, said "the inclusion of Old Kent in this prestigious index comprised

of America's leading enterprises is an honor. We are pleased by this recognition and believe that it

acknowledges Old Kent's commitment to shareholder value and its consistent, long-term record of

achievement and growth."

        Old Kent is a financial services company headquartered in Grand Rapids, Michigan, with a

40 year history of consecutive increases in annual per share earnings and dividends. It operates over

250 banking offices in Michigan, Illinois, and Indiana as well as over 150 mortgage lending sites

located throughout the United States. At September 30, 1999, Old Kent had total assets of

approximately $17.6 billion.