The PNC Financial Services Group Announces Common Stock Dividend and New Stock Repurchase Program

PITTSBURGH, Oct. 4 /PRNewswire-FirstCall/ -- The PNC Financial Services Group, Inc. (NYSE: PNC) board of directors today declared a quarterly cash dividend of 63 cents per share on the common stock. The board also authorized the company to purchase up to 25 million shares of its common stock in open market or privately negotiated transactions.

The dividend is payable Oct. 24, 2007 to shareholders of record at the close of business Oct. 12, 2007. The board also declared a quarterly cash dividend on the following preferred stocks:

    -- Series A and B: a dividend of 45 cents per share will be payable Dec.
       10, 2007 to shareholders of record at the close of business Nov. 16,
       2007.

    -- Series C: a dividend of 40 cents per share will be payable Jan. 2, 2008
       to shareholders of record at the close of business Dec. 7, 2007.

    -- Series D: a dividend of 45 cents per share will be payable Jan. 2, 2008
       to shareholders of record at the close of business Dec. 7, 2007.

The new stock repurchase authorization, which does not bear a termination date, is a replacement of the prior repurchase program that commenced on February 16, 2005, and was terminated today. Approximately 16.4 million shares were repurchased under this program.

There were approximately 340 million common shares outstanding at September 30, 2007.

The PNC Financial Services Group, Inc. (http://www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.

SOURCE The PNC Financial Services Group, Inc.

Released October 4, 2007