Donald E Foley joins Wilmington Trust Board

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Wilmington Trust Corporation (NYSE: WL) announced yesterday that Donald E. Foley has been elected to its Board of Directors. Mr. Foley, 54, is senior vice president, treasurer, and director of taxes for ITT Corporation, based in White Plains, New York. He is responsible for ITT’s capital structure and financing activities, cash management, pension and investment activities, and insurance, commodity, and financial risk management. He is a member of the company’s Executive Council, chairman of ITT Industries of Canada, and serves on the boards of several other international subsidiaries of the company.

“Don’s background complements the diverse expertise already represented on our Board, and we look forward to having the benefit of his perspective,” said Ted T. Cecala, Wilmington Trust chairman and chief executive officer. “His experience with acquisitions and tax issues and his international business acumen will be especially valuable as we continue to expand in the United States and Europe.”

ITT Corporation (NYSE: ITT) supplies advanced technology products and services. ITT is a global leader in the transport, treatment, and control of water, wastewater, and other fluids, and is a major supplier of sophisticated defense communications, electronics products, and intelligence systems used on international security. It also supplies the leisure marine and electronics components markets. ITT has 40,000 employees around the world and approximately $8 billion in annual revenues. About 50% of ITT’s revenues are generated outside of the United States. As director of taxes, Mr. Foley has global tax responsibility for the corporation, and international tax issues are an important area of his focus.

Prior to joining ITT in 1996, Mr. Foley was assistant treasurer for International Paper Company, responsible for financing, foreign exposure management, and tax-efficient business structuring. Before that, he held a progression of capital market, treasury, and tax-related assignments at Mobil Corporation. He began his career at General Electric, where he held accounting, financial planning, and treasury positions.

“I am pleased to be joining the Board of such a high-caliber company,” said Mr. Foley. “Wilmington Trust is at an exciting point in its history, and I look forward to leveraging my experience on behalf of the company’s clients, shareholders, and staff members.”

Mr. Foley’s election to the Wilmington Trust Board was effective July 21, 2006. He is an outside director, as are all but two of the company’s 12 other directors. The only two inside directors are Mr. Cecala and Robert V.A. Harra Jr., the company’s president and chief operating officer.

Mr. Foley serves on the boards of several charitable institutions and is a past director and chairman of the New York Corporate Treasury Association. In 2005, he received the Institutional Investor Corporate Plan Sponsor Investor of the Year award as well as Money Management Letter’s Corporate Award for Excellence. In 2006, he won Alternative Investment News’ Institutional Investor of the Year award. He received the Harold S. Geneen award, ITT’s highest achievement award, for outstanding contribution in 1998.

Mr. Foley earned an MBA in Finance from New York University and received a Bachelor’s degree in Economics from Union College in Schenectady, New York. He resides in Greenwich, Connecticut with his wife and two children.

Wilmington Trust Corporation (NYSE: WL) is a financial services holding company that provides wealth management and specialized corporate services to clients throughout the United States and in 85 other countries, and commercial banking services throughout the Delaware Valley region. 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, and Frankfurt.

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