BankAnnapolis Names Three New Board Members; Leading Community and Business Leaders Join Bank's Governing Body.

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ANNAPOLIS, Md.--(BUSINESS WIRE)--Feb. 2, 2004

Annapolis Bancorp, Inc. (NASDAQ:ANNB) today announced the appointment of three prominent business leaders to the Board of Directors of its subsidiary, BankAnnapolis.

The Company appointed long-time business owner and executive Clyde E. Culp III, founder of Davco Food, Inc., Nancy Lowell, president of the custom stationery design firm Lallie, Inc., and Anne Arundel Medical Center neurosurgeon Clifford T. Solomon to the BankAnnapolis Board effective January 15th. As members of the 10-person BankAnnapolis Board of Directors, the three will help steer the bank in future years as it attempts to solidify and expand its position in Anne Arundel and Queen Anne's Counties.

"We're delighted that these three distinguished individuals have chosen to join the BankAnnapolis Board of Directors," said Richard M. Lerner, Chairman and CEO of BankAnnapolis. "With their diverse backgrounds and experiences, they will bring new perspective to Board deliberations and will help us extend our outreach to the local business community. They also share our commitment to upholding the highest standards of corporate governance."

"It's not often that any company gets a chance to add three such accomplished and highly-regarded business leaders to its board of directors. We are extremely pleased to have Clyde Culp, Nancy Lowell, and Clifford Solomon join our ranks, and we look forward to a long and mutually beneficial association," Lerner said.

For the past four years, Solomon was Chairman of Surgery at Anne Arundel Medical Center and helped the hospital transition into its new facilities in 2002. He is an assistant professor of neurosurgery at Johns Hopkins Hospital and the University of Maryland Hospital and was recently named a Physician Hero by The Daily Record. Solomon specializes in neurosurgery using minimally invasive computer-assisted techniques.

"I've been impressed with BankAnnapolis since I came to the community ten years ago," said Solomon, who also serves as Director of The Maryland Neurological Institute and recently created a foundation to provide free life-saving surgery to patients who could not otherwise afford it.

"The bank has a sense of community: it's not this large institution that treats you like a number, yet it's large enough to handle complex transactions and handle them with a high level of commitment. I wanted to contribute to a bank that's been so dedicated to the community over the past decade," said Solomon.

Lowell started her business in 1975 and has won several industry awards for graphic design. Today, Lallie, Inc. employs 40 people in Millersville producing personalized stationery sold in the finest gift and stationery stores throughout the U.S., Canada and Europe.

"My experience of owning and running a business over the past 27 years helps me understand the needs of small business owners," said Lowell. "Being a part of BankAnnapolis will allow me to contribute back to the business community, and coming from a creative business, I think I can bring a new realm of insight to the bank's Board as well."

Culp has been an integral part of the Anne Arundel business community since 1975 when he founded Davco Food with five partners. The company became the largest Wendy's franchise in the world by the time it was sold in 1987. Culp went on to serve as Chief Operating Officer of Holiday Inns, President and CEO of Embassy Suites Hotels, and President and CEO of Long John Silvers, a chain of 1,500 restaurants. Since 1996, Culp has continued to found new businesses and currently serves as a consultant to the restaurant industry.

"The BankAnnapolis Board is focused on building a solid community bank," said Culp. "I look forward to being a part of an organization that is committed to community service, good corporate citizenship, and strong support of businesses in the Annapolis region."

Directors on the BankAnnapolis Board provide oversight and direction to bank management. They also act as ambassadors for the bank in the community and serve as a source of valuable business referrals.

Founded in 1990, BankAnnapolis serves small businesses, professional concerns and individuals through six community banking offices in Anne Arundel and Queen Anne's Counties. The bank's parent company, Annapolis Bancorp, Inc., reported earnings of $1,227,000 in 2002, up 142% from the previous year. Earnings in the first nine months of 2003 improved by 45.9% and total assets at September 30, 2003 were $231 million.

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