Carnegie Bancorp announces delay in merger vote and declares 5% stock dividend.

PRINCETON, N.J.--(BUSINESS WIRE)--April 12, 1996--CARNEGIE BANCORP, (NASDAQ/NMS: CBNJ, CBNJW) CARNEGIE BANCORP announced that its Special Meeting of Shareholders to vote upon the proposed merger between CARNEGIE and Regent Bancshares Corp., tentatively scheduled for mid-May, has been postponed because Regent has not yet completed its financial statements for the year ended December 31, 1995. The audit of Regent's financial statements has been delayed because of inadequate information from a company servicing the automobile insurance premium financing portion of Regent's loan portfolio. CARNEGIE cannot yet determine the impact, if any, on the proposed merger.

At a special meeting of its Board of Directors, CARNEGIE BANCORP declared a 5% stock dividend payable to shareholders of record April 24, 1996. The dividend will be sent to shareholders on May 15, 1996. It marks the seventh consecutive 5% annual stock dividend paid to shareholders since 1990.

CARNEGIE also announced that its Annual Meeting of Shareholders would be held on May 29, 1996.

CARNEGIE BANK, N.A., a national bank headquartered in Princeton, New Jersey, is the single subsidiary of CARNEGIE BANCORP. CARNEGIE BANK, N.A. serves small businesses, professionals and high net worth individuals through its six branches located in Princeton, Hamilton, Marlton, Denville, Toms River and Montgomery Township, New Jersey. Other branches are expected to open by this summer in Langhorne, Pennsylvania and Flemington, New Jersey.

CONTACT: Carnegie Bancorp

Thomas L. Gray, Jr. [phone]

or

L.G. Zangani

Leonardo G. Zangani [phone]