STU Student Loan Corp. (The)

Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by members of the Board of Directors ("Board") of The Student Loan Corporation ("SLC" or the "Company") (NYSE: STU) in connection with their efforts to sell SLC to Discover Financial Services ("Discover") (NYSE: DFS). If the transaction is completed, SLC shareholders will receive $30.00 in cash for each share of SLC common stock they hold. Separately and immediately prior to the transaction, SLM Corporation will acquire from SLC $28 billion of securitized federal student loans and related assets and Citibank will acquire from SLC certain federal and private student loans and other assets totaling $8.7 billion. The transaction is expected to be completed by the end of 2010.

Robbins Umeda LLP's investigation concerns whether SLC's Board undertook a fair process to obtain fair consideration for all shareholders of SLC. Specifically, our investigation concerns whether the Company's Board breached their fiduciary duties to SLC shareholders by failing to adequately shop the Company before entering into the transaction with Discover. Of particular note, SLC's book value is over $65.00 per share. Furthermore, the Company closed as high as $37.14 in April of this year.

If you are a shareholder of SLC, plan to continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at info@robbinsumeda.com.

Robbins Umeda LLP is a California-based law firm with significant experience representing investors in merger-related shareholder class actions, shareholder derivative actions, and securities fraud class actions. For more information about the firm, please go to http://www.robbinsumeda.com.

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