Capital Crossing Bank Declares a 2-for-1 Stock Split.

BOSTON -- Capital Crossing Bank (NASDAQ:CAPX) (the "Bank") announced today that its Board of Directors has declared a 2-for-1 stock split effected in the form of a dividend, to be paid on August 9, 2004 to shareholders of record at the close of business on August 2, 2004 (the "Record Date"). This dividend has been approved by the Bank's regulatory authorities. Shareholders will receive one additional share of common stock for every share owned on the Record Date. The effect will be an increase in net outstanding shares of the Bank's common stock from 3,328,193 to 6,656,386 based on the shares outstanding as of June 30, 2004.

The Bank is a Massachusetts-chartered, FDIC-insured trust company with $1.2 billion in assets as of June 30, 2004. The Bank operates as a commercial bank, providing financial products and services to customers through its executive and main offices in Boston, its website at www.capitalcrossing.com, and through its leasing subsidiary Dolphin Capital Corp. located in Moberly, Missouri. The Bank specializes in purchasing loans, primarily secured by commercial, multi-family and one-to-four family residential real estate and other business assets.

Statements in this news release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are only predictions of future events or financial performance that involve risks and uncertainties and actual events or results may differ materially. Factors which could cause such differences include the Bank's ability to successfully acquire loans at the same volume and the same yields as it has historically, changes in interest rates that adversely affect its business, the level of transactional income realized by the Bank as a result of loan payoffs and the sale of loans and other real estate owned, the Bank's ability to successfully diversify its asset base, the level of the Bank's non-performing assets, the Bank's ability to successfully conduct its leasing business, general economic conditions in the Bank's markets, as well as those other factors described in the Bank's most recent filing with the Federal Deposit Insurance Corporation, specifically the section entitled "Risk Factors" which identifies certain factors that could affect its future results. The Bank undertakes no obligation to publicly update any forward-looking statement.