Citizens Bank Expansion to Bring New Branch to Downtown Royal Oak.

ROYAL OAK, Mich. -- Citizens Bank (Nasdaq:CBCF) today announced plans to construct a distinctive new branch in downtown Royal Oak as part of the company's expansion initiative in Oakland County.

Construction starts this fall at the corner of South Main Street and East Lincoln Avenue in the suburb's growing business district, said Thomas C. Shafer, Citizens Bank's regional president for Southeast Michigan. "We have deep roots in Royal Oak and other Southeast Oakland communities," Shafer said. "And, we are committed to modernizing our facilities as we also add new locations."

The airy, distinctive-looking branch will open in late 2005 at a high-visibility corner of downtown formerly occupied by an auto repair shop. Once open, the new branch will replace the Citizens Bank branch at 215 S. Center St., seven blocks north of the new location. Gloria Lawson will remain branch manager.

This latest move is a sign of how Royal Oak's commercial core is stretching southward because of its healthy business climate, residential growth and popularity as a destination for shopping, dining and entertainment. "We're proud to help make this neighborhood even more attractive with modern architecture and a convenient place to obtain a full range of financial services," Shafer said. "This ultra-modern building will be an inviting, efficient location for our clients and employees alike. Our arrival should bring additional activity to this part of downtown Royal Oak."

The city's newest stand-alone bank will have a glass-enclosed atrium, a Business X-Press teller area for commercial clients, an electronic teller station offering an alternative banking source, a self-service area for Web-based banking, and plasma screens presenting loan rates and other information.

The new branch is part of a two-year Oakland County initiative that began last Fall, when Citizens Bank had seven locations in the county. That number has already increased to 12.

Citizens Bank is investing up to $40 million in Oakland County as it opens two new hubs, adds branches and increases its county-wide staff by up to 180 employees. "We are positioning Citizens Bank for future growth in one of the most attractive and fastest-growing markets in the country," said William R. Hartman, chairman, president and chief executive officer of Citizens Banking Corporation.

As part of the initiative, Citizens' local bankers gain greater authority to act quickly on loan applications and other decisions for commercial, retail, mortgage and wealth management clients.

"Today's commercial clients want access to highly capable bankers supported by an organization that gives them the ability and authority to make quick decisions," Shafer said. "Clients want to deal with a highly knowledgeable relationship banker who can help them make the most of their business opportunities, and take responsibility for their consumer banking and wealth management needs."

Citizens Banking Corporation is a diversified financial services company, providing a wide range of commercial, consumer, mortgage banking, trust investment and financial planning services to a broad client base. Citizens Banking Corporation serves markets through Citizens Bank offices in Michigan, and through F&M Bank offices in Wisconsin and Iowa. Citizens Banking Corporation is the second-largest bank holding company headquartered in Michigan, with assets of $7.748 billion as of June 30, 2004. More information about Citizens Banking Corporation is available at www.citizensonline.com.