PNC Financial Services (PNC)

One PNC

We also support our neighborhoods with community development banking. We provide not only special loans and low-cost checking accounts to the financially disadvantaged, but also financial education.

We believe that education of all types is the surest path from poverty to financial independence.

With that in mind, we have committed $100 million over 10 years to PNC Grow Up Great. It is a program that helps children from birth to five years of age prepare for school. Our employees provide further support to the program by volunteering to work with children at risk. In 2006, PNC Grow Up Great was recognized by Reading Is Fundamental with its Gift of Reading Award.

PNC also is committed to good environmental stewardship. Our new branches – as well as PNC’s Firstside Center processing facility in Pittsburgh and PFPC’s J. Richard Carnall Center in Wilmington, Delaware – all have been certified as green buildings. We have a total of 27 such environmentally friendly buildings. It is the highest figure for any publicly traded company, and we are in the process of building another – Three PNC Plaza. Located at our Pittsburgh headquarters, Three PNC Plaza will be the largest mixed-use green building in the world.

Awards. Recognition. Record earnings. The hard work of our many employees and the strong leadership of our board of directors helped make 2006 the best year yet at PNC. Our success is a tribute to their dedication.

On behalf of everyone at PNC, I also thank you, our shareholders, for your continued investment in PNC. We will strive to be worthy of your support, and we thank you for the confidence you show in us as we work to build a great company.

Sincerely,

James E. Rohr

Chairman and Chief Executive Officer