CONTACT:
B. Grant Yarber
President and Chief Executive Officer            
Phone: (919) 645-3494
Email: gyarber@capitabank-nc.com

Capital Bank NC Saves Campaign

Bank kicks off Financial Literacy Month by announcing new saver enrollments

Raleigh, NC - April 16, 2008- In keeping with the theme of Financial Literacy Month, Capital Bank announced the enrollment of 50 new savers during North Carolina Saves Week. The bank offered a special "NC Saves" account with no monthly service fee for the first nine months to promote the campaign and encourage North Carolina residents to open a savings account with Capital Bank.

"In 2006, the national savings rate was -1% and Capital Bank wanted to improve that rate for North Carolina," said Teresa Grigsby, CRA Officer for Capital Bank. "We dedicated our time and energy to educate our community about the importance of having savings for everything from emergencies to education or a car or home."

NC Saves is a statewide initiative that is part of America Saves. The campaign is chaired by State Treasurer Richard Moore, is comprised of financial institutions such as Capital Bank, the IDA and Asset Building Collaborative of North Carolina, The United Way of North Carolina, NC Cooperative Extension, FDIC, ETIC Carolinas, the North Carolina Bankers Association, the Federal Reserve, community groups and religious organizations.

"The NC Saves campaign encourages and educates individuals and families on how to save and build wealth. As Capital Bank is focused on promoting financial literacy in the communities we serve, it was appropriate for us to partner with NC Saves," said B. Grant Yarber, president and CEO of Capital Bank.

In addition to supporting the NC Saves campaign, Capital Bank also is a continued supporter of the North Carolina Council on Economic Education, with Commercial Services and Marketing Executive Roger Plott serving on the board. The bank sponsored the council's Economic Calendar Poster Contest for 2008 and will do so again for 2009. The calendar is a tool that aligns with the NCCEE's mission to ensure that all students in North Carolina develop economic understanding while utilizing their creativity.