WILLETTS TO SPEAK AT SOUTHEAST INVEST 2006 CONFERENCE 

For Immediate release:  April 4, 2006 

Wilmington, NC—Frederick Willetts, III, Chairman and President of Cooperative Bankshares, Inc., (the “Company”), (NASDAQ:“COOP”) will be a guest speaker at the SouthEast Invest 2006 Conference on April 6, 2006 in Durham, NC.  Mr. Willetts’ presentation will focus on the Company’s performance and strategies. 

The presentation slides will be filed with the Securities and Exchange Commission prior to the start of the conference.  The presentation will be accessible “live” during the conference by clicking: www.corporate-ir.net/ireye/confLobby.zhtml?ticker=COOP&item_id=1230171 and will also be available on the Company website here. The presentation will be archived until April 28, 2006.

Cooperative Bankshares, Inc. is the parent company of Cooperative Bank.  Chartered in 1898, Cooperative Bank provides a full range of financial services through 21 offices in Eastern North Carolina.  Cooperative Bank’s subsidiary, Lumina Mortgage, Inc., is a mortgage banking firm, originating and selling residential mortgage loans through three offices in North Carolina, and offices in North Myrtle Beach, South Carolina, and Virginia Beach, Virginia.

For additional information:
Frederick Willetts, III
910-343-0181