Admiralty Bancorp Reports Third Quarter Results.

PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--Oct. 26, 1999--

DAQ NM: AAABB) parent company of Admiralty Bank announced today its results for the third quarter of 1999. Admiralty Bancorp reported a third quarter net profit of $63,0e third quarter of 1998, to $2,149,000 from $1,7% over the third quarter of 1998, to $658,000 from $277,000 as a result of a 135.6% increase in total deposits. The increase in deposits was accomplished along with an ihe comparable period of 1998.

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     The Company has demonstrated the ability to achieve rapid growth
and simultaneously produce a profit. The Company generated pre-tax
income of $152,000 and $319,000 in the three months and nine months
ended September 30, 1999. The $152,000 pre-tax income for the quarter
is net of $134,000 in depreciation and amortization expenses and
$232,000 provision to the allowance for loan losses. The $319,000 year
to date pre-tax income is net of $411,000 in depreciation and
amortization expenses and $304,000 provision to the allowance for loan
losses.
     Mr. Ward Kellogg, President and CEO of Admiralty Bancorp, Inc.
stated, "Everyone associated with Admiralty Bank is very pleased to
see our plans and hard work coming to fruition. We have already
surpassed our original growth goals for the end of 1999 and we remain
highly motivated. Our success over the last twelve months has proven
the need in our market for a commercial bank focused on personal
service. We are very encouraged by our future prospects and will
continually strive to exceed the expectations of our customers and our
shareholders."
     Admiralty Bancorp, Inc. is the parent company for Admiralty Bank,
a Florida chartered commercial bank operating through its main office
in Palm Beach Gardens, Florida and three branch offices located in
Boca Raton, Juno Beach and Jupiter, Florida. The Bank is a full
service financial institution, catering to the needs of businesses,
professionals, and private banking clients.

     "Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Certain of these statements contained in this
release which are not historical facts are forward-looking statements
that are subject to risks and uncertainties that could cause actual
results to differ materially from those set forth in the
forward-looking statements, including the uncertainties inherent in
the process of auditing and making end-of-year adjustments to a
corporation's financial statements. By making these forward-looking
statements, the Company undertakes no obligation to update these
statements for revisions or changes after the date of this release.

     L.G. Zangani, LLC provides financial public relations service to
the Company. As such, L.G. Zangani, LLC and/or its officers, agents
and employees, receives remuneration for public relations and/or other
services performed for the Company. This remuneration may take the
form of cash, capital stock in the Company, or warrants and/or options
to purchase stock in the Company.