Albemarle First Bank Postpones 2005 Annual Shareholder Meeting.

CHARLOTTESVILLE, Va. -- Albemarle First Bank, Charlottesville, Virginia (NASDAQ:AFBK) announces that its 2005 annual shareholder meeting previously scheduled for July 26, 2005, for shareholders of record on June 10, 2005, will be rescheduled to coincide with the meeting of shareholders to be called later this year to consider the definitive agreement and related Plan of Merger with Millennium Bankshares Corporation (Nasdaq SmallCap Market "MBVA") entered into on June 9, 2005. A new record date will be set in connection with the rescheduled meeting and notice of the rescheduled meeting and record date will be given when each has been established.

Information about Millennium Bankshares and Albemarle First Bank

In connection with the proposed acquisition of Albemarle First Bank by Millennium Bankshares, Millennium Bankshares will file with the Securities and Exchange Commission a registration statement on Form S-4 to register the shares of Millennium Bankshares' common stock to be issued to the shareholders of Albemarle First Bank. The registration statement will include a joint proxy statement/prospectus which will be sent to the shareholders of Albemarle First Bank seeking their approval of the proposed transaction and to the shareholders of Millennium Bankshares seeking their approval of an amendment to Millennium Bankshares' articles of incorporation to increase the number of its authorized shares of common stock and approving the issuance of shares of Millennium Bankshares to the shareholders of Albemarle First Bank as required by the rules and regulations of the Nasdaq SmallCap Market.

WE URGE INVESTORS AND SECURITY HOLDERS TO READ THE REGISTRATION STATEMENT ON FORM S-4 AND THE JOINT PROXY STATEMENT/PROSPECTUS INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IN CONNECTION WITH THE PROPOSED TRANSACTION, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT MILLENNIUM BANKSHARES CORPORATION, ALBEMARLE FIRST BANK AND THE PROPOSED TRANSACTION. Investors and security holders may obtain free copies of these documents through the website maintained by the Securities and Exchange Commission at http://www.sec.gov. Free copies of the joint proxy statement/prospectus also may be obtained by directing a request by telephone or mail to Millennium Bankshares Corporation, 1601 Washington Plaza, Reston, Virginia 20190, Attention: Investor Relations (telephone number [phone]) or Albemarle First Bank, 1265 Seminole Trail, Charlottesville, Virginia 22901, Attention: Thomas M. Boyd, Jr. (telephone number [phone]).

The directors, executive officers, and certain other members of management of Millennium Bankshares and Albemarle First Bank may be soliciting proxies in favor of the transaction from the companies' respective shareholders. For information about Millennium Bankshares' directors, executive officers and members of management, shareholders are asked to refer to the most recent proxy statement issued by Millennium Bankshares, which is available on its web site and at the address provided in the preceding paragraph. Information about Albemarle's directors and executive officers is included in Albemarle's Annual Report on Form 10-KSB for the year ended December 31, 2004, as amended, which was filed with the Board of Governors of the Federal Reserve System and is available on Albemarle's website and at the address provided in the preceding paragraph. Additional information regarding the interests of such potential participants will be included in the registration and joint proxy statement/prospectus and other relevant documents filed with the SEC.