COOPERATIVE BANK PARTNERS WITH SEAGATE WEALTH MANAGEMENT GROUP

For immediate release: September 5, 2006

Wilmington, North Carolina—O. C. Burrell, Jr. Executive Vice President and Chief Operating Officer of Cooperative Bank announced today that the bank has formed a partnership with Seagate Wealth Management Group through UVEST Financial Services, Inc. The partnership will be managed by partners C. Ryan Horne and M. Jeffery Noonan, JD. The Team will provide a wide variety of financial solutions including retirement planning, professional money management, estate planning, life and long-term-care insurance. Mr. Burrell said " We understand the vital importance of tailoring financial solutions to help our clients reach their lifetime goals and we feel this is the right way to go."

Located at the bank’s Landfall office in Wilmington, North Carolina , the Seagate Wealth Management Group is available by appointment to provide clients with personalized and professional guidance. Appointments for a portfolio review can be made through any of the Cooperative branch offices or by calling 910-344-0100.

UVEST Financial Services, Inc., headquartered in Charlotte, North Carolina, is a registered securities broker-dealer and member of the National Association of Securities Dealers (NASD), and the Securities Investor Protection Corporation (SIPC), as well as the Securities Industry Association (SIA). As one of the fastest growing investment firms, UVEST currently collaborates with over 300 financial institutions located throughout the United States, with assets ranging from $100 million to $22 billion

For More information: 910-344-0100