Center Financial Signs Lease for New Full-Service Branch in Diamond Bar, California.

Upcoming Branch Expansion Plans Signify Beginning Stages of Center Financial's Next Phase of Growth

LOS ANGELES -- Center Financial Corporation (NASDAQ:CLFC), the holding company of Center Bank, today announced the lease signing for a new full-service branch in Diamond Bar, Calif., in the San Gabriel Valley. Center Bank's Diamond Bar branch is expected to open during the first quarter of 2008 next to H Mart, an upscale Korean-American grocery store that will be the new anchor tenant of the recently revitalized Country Hills Towne Center on Diamond Bar Boulevard.

"The city of Diamond Bar has experienced a remarkable increase in its population of affluent Asian-Americans since the 1980s, and a growing number of small businesses are being established to cater to this niche market," said Jae Whan (J.W.) Yoo, president and chief executive officer. "This location will be our 16th full-service branch in the Los Angeles basin and will complement our expansion strategy to seek out markets that are financially underserved, and which demonstrate impressive growth potential for both deposits and commercial banking relationships.

"We remain excited about the opening of our second full-service branch in the Seattle area, as well as the relocation of our Oxford branch to a significantly larger site with greater visibility in the heart of Los Angeles' Koreatown," Yoo said. "Along with our plans to enter the Atlanta market early 2008 with the pending acquisition of First Intercontinental Bank, we have now begun the initial stages of the next phase of growth for Center Financial."

About Center Financial Corporation

Center Financial Corporation is the holding company of Center Bank, a community bank offering a full range of financial services for diverse ethnic and small business customers. Founded in 1986 and specializing in commercial and SBA loans and trade finance products, Center Bank has grown to be one of the nation's leading financial institutions focusing on the Korean-American community, with total assets of $1.91 billion at June 30, 2007. Headquartered in Los Angeles, Center Bank operates 24 branch and loan production offices. Of the company's 17 full-service branches, 15 are located throughout Southern California, along with one branch each in Chicago and Seattle. Center Bank's seven loan production offices are strategically located in Seattle, Denver, Washington D.C., Las Vegas, Atlanta, Dallas and Northern California. Center Bank is a California state-chartered institution and its deposits are insured by the FDIC to the extent provided by law. For additional information on Center Bank, visit the company's Web site at http://www.centerbank.com.

This release contains forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the anticipated timing of new branch openings and the company's ability to enhance its value through strategic opportunities. The forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and actual results and performance in future periods may be materially different from any future results or performance suggested by the forward-looking statements in this release. Factors that might cause such differences include, but are not limited to, those identified in our cautionary statements contained in Center Financial Corp.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2006 (See Business, and Management's Discussion and Analysis), and other filings with the Securities and Exchange Commission (SEC) are incorporated herein by reference. These factors include, but are not limited to: competition in the financial services market for both deposits and loans; the ability of Center Financial and its subsidiaries to increase its customer base; changes in interest rates; new litigation or changes or adverse developments in existing litigation; and regional and general economic conditions. Such forward-looking statements speak only as of the date of this release. Center Financial expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in the company's expectations of results or any change in events.