Sterling Bancorp announces formation of Sterling Business Credit.

NEW YORK--(BUSINESS WIRE)--Feb. 22, 1995--Sterling Bancorp (NYSE:STL) today announced the formation of Sterling Business Credit, a new specialty division of its Sterling Factors Corp. subsidiary.

The new division will provide credit for promising, quality companies that may not have access

Commenting on the new Sterling enterprise, Louis J. Cappelli, chairman and chief executive officer of Sterling Bancorp, said, "We are confident that this new activity will add value to Sterling as it furthers our strategy of diversifying into high margin financial services businesses. The division will be headed by Executive Vice President Stanley Officina, who also directs our Sterling factoring groups. We believe there are vast opportunities in lending to this largely underserved sector of the business community." Sterling Bancorp is the holding company for Sterling National Bank & Trust Company of New York. Founded in 1929, Sterling National Bank provides a full range of banking services, including business and consumer loans, asset based financing, factoring, trade financing, mortgage lending, leasing and trust and estate services in the New York metropolitan area and throughout the U.S. Sterling's other companies include Zenith Financial Services Co., Standard Factors Corp./Sterling Factors and Sterling Banking Corp., all located in New York City, Sterling Industrial Loan Association in Richmond, Va., and Universal Finance Corp. in Los Angeles.

CONTACT: Sterling Bancorp, New York

John Ferguson, 212/826-8046

or

Dewe Rogerson Inc., New York

Stuart Carlisle or Lisa Jospa, 212/688-6840