Hibernia Asset Management Refines Structure to Strengthen Key Asset Ar

Hibernia Asset Management Refines Structure to Strengthen Key Asset Areas

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    NEW ORLEANS--(BUSINESS WIRE)--May 16, 2005--Hibernia (NYSE: HIB) today announced a reorganization of Hibernia Asset Management, creating two new leadership positions to further strengthen its equity and fixed income asset areas.
    The company named Martin Sirera its new chief equity strategist to lead a team of portfolio managers throughout Louisiana and Texas who manage approximately $1.5 billion in trust investments for Hibernia clients. Sirera is also the portfolio manager of the Hibernia Capital Appreciation Fund and the Hibernia Mid Cap Equity Fund. A vice president with the company, Sirera's previous position was senior equity portfolio manager. He has 16 years of experience in the financial services industry, including nine years at Hibernia. A native of New Orleans, Sirera received a degree in finance from the University of New Orleans and in 1999 earned his designation as a Chartered Financial Analyst (CFA), a credential of excellence for investment professionals. He is a member of the CFA Society of New Orleans and the CFA Institute and volunteers with the Boy Scouts of America.
    Hibernia also named Steven Knight as fixed income strategist to lead a team that manages $1.4 billion of institutional fixed income portfolios and mutual funds and sets the company's fixed income strategy. Knight and the fixed income team manage the Hibernia Louisiana Municipal Income Fund, the Hibernia Total Return Bond Fund and the Hibernia U.S. Government Income Fund. A financial services veteran, Knight has 25 years of experience and joined Hibernia in 2005 as a vice president after serving in asset management positions with investment companies in Des Moines, Iowa, Minneapolis and Chicago. A native of Cedar Rapids, Iowa, Knight holds a master's degree in economics from the University of Iowa and earned his designation as a CFA in 1989. He is a member of the National D-Day Museum in New Orleans.
    "Martin and Steven are both accomplished and highly effective leaders who understand the needs of their clients and how to produce results," said Richard Chauvin, Hibernia's Chief Investment Officer. "Creating these new leadership positions means Hibernia Asset Management will be able to provide more specialized attention to client portfolios, with more focus by individual managers on the important segments of the portfolio. In addition, we believe the new structure will better leverage Hibernia Asset Management's research efforts and staff expertise in the investment decision process."
    Hibernia Asset Management helps each client by defining and implementing a plan to achieve investment objectives and receive the maximum return consistent with the client's risk profile. Its portfolio managers, analysts and traders manage over $4 billion in assets.
    Hibernia is on Forbes magazine's list of the world's 2,000 largest companies and Fortune magazine's list of America's top 1,000 companies according to annual revenue. Hibernia has $22.2 billion in assets and 317 locations in 34 Louisiana parishes and 35 Texas counties. Hibernia Corporation's common stock (HIB) is listed on the New York Stock Exchange.

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CONTACT: Hibernia, New Orleans Media Inquiries: Steven Thorpe, 504-533-2753 E-mail: sthorpe@hibernia.com or Investor Inquiries: Trisha Voltz, 504-533-2180 E-mail: tvoltz@hibernia.com

KEYWORD: LOUISIANA INDUSTRY KEYWORD: BANKING MANAGEMENT CHANGES PHOTO PHOTOWIRE SOURCE: Hibernia PHOTO: 45552 45553

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