The PNC Financial Services Group, Inc.
First Quarter 2008
Earnings Conference Call
April 17, 2008
Exhibit 99.2

2
Cautionary Statement Regarding Forward-Looking
Information and Adjusted Information
This presentation contains forward-looking statements regarding our outlook or expectations relating to PNC’s future business, operations, financial
condition,
financial
performance
and
asset
quality.
Forward-looking
statements
are
necessarily
subject
to
numerous
assumptions,
risks
and
uncertainties, which change over time.
The forward-looking statements in this presentation are qualified by the factors affecting forward-looking statements identified in the more detailed
Cautionary
Statement
included
in
the
Appendix,
which
is
included
in
the
version
of
the
presentation
materials
posted
on
our
corporate
website
at
www.pnc.com/investorevents.
We
provide
greater
detail
regarding
these
factors
in
our
2007
Form
10-K,
including
in
the
Risk
Factors
and
Risk
Management
sections,
and
in
our
other
SEC
reports
(accessible
on
the
SEC’s
website
at
www.sec.gov
and
on
or
through
our
corporate
website
at
www.pnc.com/secfilings).
Future events or circumstances may change our outlook or expectations and may also affect the nature of the assumptions, risks and uncertainties
to which our forward-looking statements are subject.  The forward-looking statements in this presentation speak only as of the date of this
presentation.  We do not assume any duty and do not undertake to
update those statements.
In this presentation, we will sometimes refer to adjusted results to help illustrate the impact of the deconsolidation of BlackRock near the end of
third quarter 2006 and the impact of certain types of items.  Adjusted results reflect, as applicable, the following types of adjustments:  (1) 2006
and
earlier
periods
reflect
the
impact
of
the
deconsolidation
of
BlackRock
by
adjusting
as
if
we
had
recorded
our
BlackRock
investment
on
the
equity
method
prior
to
its
deconsolidation;
(2)
adjusting
2006
periods,
as
applicable,
to
exclude
the
impact
of
the
third
quarter
2006
gain
on
the
BlackRock/MLIM
transaction
and
losses
on
the
repositioning
of
PNC’s
securities
and
mortgage
loan
portfolios;
(3)
adjusting
fourth
quarter
2006
and
2007
periods
to
exclude
the
net
mark-to-market
adjustments
on
PNC’s
remaining
BlackRock
LTIP
shares
obligation
and,
as
applicable,
the
gain
PNC
recognized in first quarter 2007 in connection with the company’s transfer of BlackRock shares to satisfy a portion of its BlackRock LTIP shares
obligation;
(4)
adjusting
2007
and
2006
periods
to
exclude,
as
applicable,
integration
costs
related
to
acquisitions
and
to
the
BlackRock/MLIM
transaction;
(5)
adjusting
2007
periods,
as
applicable,
for
the
fourth
quarter
2007
Visa
litigation
charge;
and
(6)
adjusting,
as
appropriate,
for
the
tax
impact
of
these
adjustments.
We
have
provided
these
adjusted
amounts
and
reconciliations
so
that
investors,
analysts,
regulators
and
others
will be better able to evaluate the impact of these items on our
results for the periods presented, in addition to providing a basis of comparability for
the impact of the BlackRock deconsolidation given the magnitude of the impact of deconsolidation on various components of our income statement
and balance sheet.  We believe that information as adjusted for the impact of the specified items may be useful due to the extent to which these
items are not indicative of our ongoing operations as the result
of our management activities on those operations.  While we have not provided other
adjustments for the periods discussed, this is not intended to imply that there could not have been other similar types of adjustments, but any such
adjustments would not have been similar in magnitude to the amount of the adjustments shown. 
In certain discussions, we may also provide revenue information on a taxable-equivalent basis by increasing the interest income earned on tax-
exempt assets to make it fully equivalent to interest income earned on taxable investments.  We believe this adjustment may be useful when
comparing yields and margins for all earning assets.
This presentation may also include a discussion of other non-GAAP financial measures, which, to the extent not so qualified therein or in the
Appendix, is qualified by GAAP reconciliation information available on our corporate website at www.pnc.com under “About PNC–Investor Relations.”

3
Key Take-Aways
Delivered solid results
Posted strong revenue growth despite market volatility
Created positive operating leverage
Maintained a well-positioned balance sheet
Asset quality performing as expected
Building our tier 1 capital ratio
Despite Market Volatility, PNC’s Ability
to Execute Yielded Positive Results.

4
Retail
Effectively grew net checking relationships organically
Investments in acquired branches produced excellent results
Asset quality performing as expected
Corporate & Institutional
Acquisitions and client demand helped drive loan and deposit growth
Strong year over year net interest income growth
Treasury management and capital markets posted excellent results
PFPC
Solid servicing revenue growth year over year
Albridge and Coates acquisitions transforming the model
Total fund assets serviced grew to $2.6 trillion
BlackRock
Posted another strong quarter of core earnings
Assets under management now at $1.4 trillion
Business Segment Highlights
Execution in PNC’s Segments Leaves Us
Well-Positioned for the Future.

5
First Quarter 2008 Highlights
Delivered solid results
Posted strong revenue growth despite market volatility
Created positive operating leverage
Maintained a well-positioned balance sheet
Asset quality performing as expected
Building our tier 1 capital ratio
$.52
4Q07
1Q07
1Q08
$1.46
$1.09
Diluted earnings per share
Despite Market Volatility, PNC’s Ability
to Execute Yielded Positive Results.

6
+16%
(2%)
+8%
+36%
+7%
+40%
+8%
+37%
+12%
+13%
Total Revenue Growth
(1)
The sum of deposit NII and loan NII equals GAAP net interest income.  Further information regarding revenue mix is provided in the
Appendix.
Change vs.
4Q07
1Q07
Noninterest
Income
53%
Deposit NII
29%
Loan NII
18%
1Q08 Mix
1
PNC’s Revenue Streams are Diverse and
Require Less Credit Capital.
$2.0
$1.5
$1.0
$0.5
$0
Diversified Revenue Growth
Net Interest Income Growth

7
Noninterest Income
(1)
“Other”
includes commercial mortgage loans and commitments held for sale valuations, net of hedges, trading income (losses), the
gain on the sale of Hilliard Lyons, the Visa redemption gain, BlackRock LTIP shares mark-to-market adjustments and BlackRock LTIP
shares distribution gains.  Further information regarding noninterest income is provided in the Appendix.
PNC’s Primary Client-Based Fee Income
Posted Strong Year over Year Growth.
Change vs.
16%
NM
NM
(9)
(9)
(5)
(6)
6%
4Q07
6
82
Service charges on deposits
NM
41
Net securities gains (losses)
1Q07
1Q08
(In millions)
(2%)
$967
Total noninterest income
(70)
70
Other
3
164
Corporate services
8
170
Consumer services
28                         
212
Asset management
12%
$228
Fund servicing
1

8
$0
$1
$2
$3
$4
$5
$6
$7
Revenue
+12%
Creating Positive Operating Leverage
Adjusted
Revenue
(as
reported
$5.5
billion,
$6.3
billion,
$8.6
billion,
$6.7
billion
for
2004,
2005,
2006,
2007,
respectively)
Adjusted Noninterest
Expense
(as reported $3.7 billion, $4.3 billion, $4.4 billion, $4.3 billion for 2004, 2005, 2006, 2007, respectively)
Adjusted Net Income
(as reported $1.2 billion, $1.3 billion, $2.6 billion, $1.5 billion for 2004, 2005, 2006, 2007, respectively)
$1.2
$1.3
$1.5
(1)
As
reported:
revenue
7%,
expense
5%,
operating
leverage
2%.
Adjusted
amounts
are
reconciled
to
GAAP
amounts
in
the
Appendix.
2004
2005
2006
Expense
+9%
Compound Annual Growth
(2004-2007, as adjusted)¹
Revenue
+13%
Expense
+10%
1Q08 vs. 1Q07
Operating
Leverage
+3%
Operating
Leverage
+3%
$1.7
2007
PNC’s Disciplined Growth Strategies
Help Drive Positive Operating Leverage.

9
Credit, Balance Sheet and Capital
Credit decisions driven by
risk-adjusted returns
Minimal exposure to
subprime mortgages, high-
yield bridge and leveraged
finance loans
Relatively low commercial
real estate exposure
Residential real estate
development loans of $2.1
billion or less than 2% of
total assets
Highly granular portfolio
Credit quality migrating as
expected
Asset Quality
Duration of equity of 2.2
years
Net interest margin
improvement
Strong liquidity
Low loans to deposits ratio
with a low cost deposit
base
Balance Sheet Management
Estimated Tier 1 capital
ratio of 7.7%
Continued access to capital
markets
Increased quarterly
dividend
Capital Management
PNC’s Business Model and Discipline
Lead to a Moderate Risk Profile.

10
Cautionary Statement Regarding Forward-Looking
Information
Appendix
We
make
statements
in
this
presentation,
and
we
may
from
time
to
time
make
other
statements,
regarding
our
outlook
or
expectations for
earnings, revenues, expenses and/or other matters regarding or affecting PNC that are forward-looking statements within the meaning of the
Private
Securities
Litigation
Reform
Act.
Forward-looking
statements
are
typically
identified
by
words
such
as
“believe,”
“expect,”
“anticipate,”
“intend,”
“outlook,”
“estimate,”
“forecast,”
“will,”
“project”
and other similar words and expressions.
Forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time.  Forward-looking statements
speak only as of the date they are made.  We do not assume any duty and do not undertake to update our forward-looking statements.  Because
forward-looking
statements
are
subject
to
assumptions
and
uncertainties,
actual
results
or
future
events
could
differ,
possibly
materially, from
those that we anticipated in our forward-looking statements, and future results could differ materially from our historical performance.
Our forward-looking statements are subject to the following principal risks and uncertainties.  We provide greater detail regarding some of these
factors in our Form 10-K for the year ended December 31, 2007, including in the Risk Factors and Risk Management sections of that report, and in
our other SEC reports.  Our forward-looking statements may also be subject to other risks and uncertainties, including those that we may discuss
elsewhere in this presentation or in our filings with the SEC, accessible on the SEC’s website at www.sec.gov and on or through our corporate
website at www.pnc.com/secfilings.
•Our businesses and financial results are affected by business and economic conditions, both generally and specifically in the principal markets in
which we operate.  In particular, our businesses and financial results may be impacted by:
•Changes in
interest
rates
and
valuations
in
the
debt,
equity
and
other
financial
markets.
•Disruptions in the liquidity and other functioning of financial markets, including such disruptions in the markets for real estate and other assets
commonly securing financial products.
•Actions by the Federal Reserve and other government agencies, including those that impact money supply and market interest rates.
•Changes
in
our
customers’,
suppliers’
and
other
counterparties’
performance
in
general
and
their
creditworthiness
in
particular.
•Changes in customer preferences and behavior, whether as a result of changing business and economic conditions or other factors.
•A continuation of recent turbulence in significant portions of the global financial markets could impact our performance, both directly by affecting
our revenues and the value of our assets and liabilities and indirectly by affecting the economy generally.
•Given current economic and financial market conditions, our forward-looking financial statements are subject to the risk that these conditions will
be substantially different than we are currently expecting.  These statements are based on our current expectations that interest rates will remain
low through 2008 with continued wide market credit spreads and that national economic conditions currently point toward a mild recession.
•Our operating results are affected by our liability to provide shares of BlackRock common stock to help fund certain BlackRock long-term incentive
plan (“LTIP”) programs, as our LTIP liability is adjusted quarterly (“marked-to-market”) based on changes in BlackRock’s common stock price and
the number of remaining committed shares, and we recognize gain or loss on such shares at such times as shares are transferred for payouts
under the LTIP programs.
•Legal and regulatory developments could have an impact on our ability to operate our businesses or our financial condition or results of
operations or our competitive position or reputation.  Reputational impacts, in turn, could affect matters such as business generation and
retention, our ability to attract and retain management, liquidity, and funding.  These legal and regulatory developments could include:  (a) the
unfavorable resolution of legal proceedings or regulatory and other governmental inquiries;  (b) increased litigation risk from recent regulatory and
other
governmental
developments;
(c)
the
results
of
the
regulatory
examination
process,
our
failure
to
satisfy
the
requirements
of
agreements
with
governmental
agencies,
and
regulators’
future
use
of
supervisory
and
enforcement
tools;
(d)
legislative
and
regulatory
reforms,
including
changes to laws and regulations involving tax, pension, education lending, and the protection of confidential customer information; and (e)
changes in accounting policies and principles.

11
Cautionary Statement Regarding Forward-Looking
Information (continued)
Appendix
•Our business and operating results are affected by our ability to identify and effectively manage risks inherent in our businesses, including, where
appropriate, through the effective use of third-party insurance, derivatives, and capital management techniques.
•The adequacy of our intellectual property protection, and the extent of any costs associated with obtaining rights in intellectual property claimed       
by others, can impact our business and operating results.
•Our ability to anticipate and respond to technological changes can have an impact on our ability to respond to customer needs and to meet
competitive demands.
•Our ability
to
implement
our
business
initiatives
and
strategies
could
affect
our
financial
performance
over
the
next
several
years.
•Competition can have an impact on customer acquisition, growth and retention, as well as on our credit spreads and product pricing, which can       
affect market share, deposits and revenues.
•Our business and operating results can also be affected by widespread natural disasters, terrorist activities or international hostilities, either as a
result
of
the
impact
on
the
economy
and
capital
and
other
financial
markets
generally
or
on
us
or
on
our
customers,
suppliers
or
other
counterparties specifically.
•Also, risks and uncertainties that could affect the results anticipated in forward-looking statements or from historical performance relating to our
equity interest in BlackRock, Inc. are discussed in more detail in BlackRock’s filings with the SEC, including in the Risk Factors sections of
BlackRock’s reports.  BlackRock’s SEC filings are accessible on the SEC’s website and on or through BlackRock’s website at www.blackrock.com.
We
grow
our
business
from
time
to
time
by
acquiring
other
financial
services
companies.
Acquisitions
in
general
present
us
with
risks
in
addition
to those presented by the nature of the business acquired.  In particular, acquisitions may be substantially more expensive to complete (including
as
a
result
of
costs
incurred
in
connection
with
the
integration
of
the
acquired
company)
and
the
anticipated
benefits
(including
anticipated
cost
savings
and
strategic
gains)
may
be
significantly
harder
or
take
longer
to
achieve
than
expected.
In
some
cases,
acquisitions
involve
our
entry
into new businesses or new geographic or other markets, and these situations also present risks resulting from our inexperience in these new
areas.  As a regulated financial institution, our pursuit of attractive acquisition opportunities could be negatively impacted due to regulatory delays
or other regulatory issues.  Regulatory and/or legal issues related to the pre-acquisition operations of an acquired business may cause reputational
harm to PNC following the acquisition and integration of the acquired business into ours and may result in additional future costs arising as a result
of those issues.  Our recent acquisition of Sterling Financial Corporation (“Sterling”) presents regulatory and litigation risk, as a result of financial
irregularities at Sterling’s commercial finance subsidiary, that may impact our financial results.
Any annualized, proforma, estimated, third party or consensus numbers in this presentation are used for illustrative or comparative purposes only
and may not reflect actual results.  Any consensus earnings estimates are calculated based on the earnings projections made by analysts who
cover
that
company.
The
analysts’
opinions,
estimates
or
forecasts
(and
therefore
the
consensus
earnings
estimates)
are
theirs
alone,
are
not
those of PNC or its management, and may not reflect PNC’s or other company’s actual or anticipated results.

12
Non-GAAP to GAAP Reconcilement
Appendix
For the year ended December 31, 2007
PNC
PNC
In millions
As Reported 
Adjustments (a)
As Adjusted
Net interest income
$2,915
$2,915
Noninterest income
3,790
$131
3,921
Total revenue
6,705
131
6,836
Provision for credit losses
315
(45)
270
Noninterest expense
4,296
(184)
4,112
Income before income taxes
2,094
360
2,454
Income taxes
627
125
752
Net income
$1,467
$235
$1,702
BlackRock
For the year ended December 31, 2006
PNC
Deconsolidation and
BlackRock
PNC
In millions
As Reported
Adjustments (a)
Other Adjustments
Equity Method
As Adjusted
Net interest income
$2,245
$(10)
$2,235
Noninterest income
6,327
$(1,812)
(1,087)
$144
3,572
Total revenue
8,572
(1,812)
(1,097)
144
5,807
Provision for credit losses
124
124
Noninterest expense
4,443
(91)
(765)
3,587
Income before minority interest and income taxes
4,005
(1,721)
(332)
144
2,096
Minority interest in income of BlackRock
47
18
(65)
Income taxes
1,363
(658)
(130)
7
582
Net income
$2,595
$(1,081)
$(137)
$137
$1,514
(a) Amounts
adjusted
to
exclude
the
impact
of
the
following
pretax
items:
(1)
the
gain
of
$83
million
recognized
in
connection
with
PNC's
transfer
of
BlackRock
shares
to
satisfy a
portion
of
our
BlackRock
LTIP
shares
obligation,
(2)
the
net
mark-to-market
adjustment
totaling
$210
million
on
our
remaining
BlackRock
LTIP
shares
obligation,
(3) acquisition
integration
costs
totaling
$151
million,
and
(4)
Visa
indemnification
charge
of
$82
million.
The
net
tax
impact
of
these
items
is
reflected
in
the
adjustment
to income taxes.
(a) Includes
the
impact
of
the
following
pretax
items:
$2,078
million
gain
on
BlackRock/MLIM
transaction,
$196
million
securities
portfolio
rebalancing
loss,
$101
million
of BlackRock/MLIM transaction
integration
costs,
$48
million
mortgage
loan
portfolio
repositioning
loss,
and
$12
million
net
loss
related
to
our
BlackRock
LTIP
shares
obligation. The net tax impact of these items is reflected in the adjustment to income taxes.

13
Non-GAAP to GAAP Reconcilement
Appendix
For the year ended December 31, 2005
BlackRock
PNC
Deconsolidation and
BlackRock
PNC
In millions
As Reported
Other Adjustments
Equity Method
As Adjusted
Net interest income
$2,154
$(12)
$2,142
Noninterest income
4,173
(1,214)
$163
3,122
Total revenue
6,327
                     
(1,226)
                         
163
                            
5,264
              
Provision for credit losses
21
21
Noninterest expense
4,306
(853)
3,453
Income before minority interest and income taxes
2,000
(373)
163
1,790
Minority interest in income of BlackRock
71
(71)
Income taxes
604
(150)
11
465
   Net income
$1,325
$(152)
$152
$1,325
For the year ended December 31, 2004
BlackRock
PNC
Deconsolidation and
BlackRock
PNC
In millions
As Reported
Other Adjustments
Equity Method
As Adjusted
Net interest income
$1,969
$(14)
$1,955
Noninterest income
3,572
(745)
$101
2,928
Total revenue
5,541
                     
(759)
                           
101
                            
4,883
              
Provision for credit losses
52
52
Noninterest expense
3,712
(564)
3,148
Income before minority interest and income taxes
1,777
(195)
101
1,683
Minority interest in income of BlackRock
42
(42)
Income taxes
538
(59)
7
486
   Net income
$1,197
$(94)
$94
$1,197

14
Non-GAAP to GAAP Reconcilement
Appendix
Adjusted
In millions
2004
2005
2006
2007
2004-2007 CAGR
Adjusted net interest income
$1,955
$2,142
$2,235
$2,915
14%
Adjusted noninterest income
2,928
3,122
3,572
3,921
10%
Adjusted total revenue
4,883
5,264
5,807
6,836
12%
Adjusted noninterest expense
3,148
3,453
3,587
4,112
9%
Adjusted net income
1,197
                     
1,325
                          
1,514
                
1,702
            
12%
Adjusted operating leverage
3%
Reported
In millions
2004
2005
2006
2007
2004-2007 CAGR
Net interest income, as reported
$1,969
$2,154
$2,245
$2,915
14%
Noninterest income, as reported
3,572
4,173
6,327
3,790
2%
Total revenue, as reported
5,541
6,327
8,572
6,705
7%
Noninterest expense, as reported
3,712
4,306
4,443
4,296
5%
Net income, as reported
1,197
                     
1,325
                          
2,595
                
1,467
            
7%
Operating leverage, as reported
2%
For the year ended December 31, as adjusted
For the year ended December 31, as reported
In millions, for the three months ended
March 31, 2008
December 31, 2007
March 31, 2007
December 31, 2007
March 31, 2007
Net interest income
$854
$793
$623
8%
37%
Loan net interest income
324
304
232
7%
40%
Deposit net interest income
530
489
391
8%
36%
Noninterest income
967
834
991
16%
(2%)
Total revenue
$1,821
$1,627
$1,614
12%
13%
Fund servicing
$228
$215
$203
6%
12%
Asset management
212
                       
225
                            
165
                    
(6%)
28%
Consumer services
170
                       
179
                            
157
                    
(5%)
8%
Corporate services
164
                       
180
                            
159
                    
(9%)
3%
Service charges on deposits
82
                         
90
                              
77
                      
(9%)
6%
Net securities gains (losses)
41
                         
(1)
                              
(3)
                      
NM
NM
Other
70
                         
(54)
                            
233
                    
NM
(70%)
Noninterest income
$967
$834
$991
16%
(2%)
% Change for 1Q08 vs.