Admiralty Bancorp. Inc., Announces Total Assets in Excess of $200 Million.

Business Editors

PALM BEACH GARDENS, Fla.--(BUSINESS WIRE)--Aug. 16, 2000

Admiralty Bancorp, Inc., (NNM: AAABB) parent company of Admiralty Bank announced that its total assets have exceeded $200 Million.

Over the last two years, under the guidance of a new Board of Directors and a new senior management team, Admiralty Bank has grown from $50 million in assets to over $200 million in assets. Over just the last twelve months, loans, deposits, and assets of the company have doubled!

Also during the last two years, the company relocated the Jupiter office to a larger facility, opened very successful new offices in Boca Raton and Melbourne, and recently announced an exciting expansion into the Orlando market.

In addition the company converted its item processing and data processing from a service bureau environment to an in-house system, and registered as a financial holding company to broaden the range of activities in which it can engage- such as the insurance joint venture with USI- Florida.

Ward Kellogg, President and CEO of Admiralty Bank said "Admiralty's tremendous success in the markets we serve provides clear evidence that professionals and business owners prefer to deal with community bankers who know the market and understand their customers businesses. Our speed, flexibility and local decision making allow us to provide a level of service which is greatly appreciated by our customers."

Bruce Mahon, Chairman of the Board of Admiralty Bancorp, Inc. said, "We are very proud to continue announcing results which exceed our original projections. Our stockholders demonstrated much faith in our abilities and the best way to thank them is to outperform the expectations."

Admiralty Bancorp, Inc. is the parent company for Admiralty Bank and admiralty Insurance Services. Admiralty Bank is a Florida chartered commercial bank operating through its main office in Palm Beach Gardens, Florida and four branches offices located in Boca Raton, Juno Beach, Jupiter and Melbourne, Florida. The bank is a full service financial institution, catering to the needs of businesses, professionals, and private banking clients. Admiralty Insurance Services is a limited liability corporation providing a full range of insurance services to Admiralty Bank customers and the public.

"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.

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