City National Corporation Announces Final Terms of Its Civic Bancorp Acquisition.

Business Editors

LOS ANGELES--(BUSINESS WIRE)--March 15, 2002

On February 28, 2002, City National Corporation completed its acquisition of Civic Bancorp.

In a news release issued March 1, the company indicated that Civic shareholders who elected to receive City National stock would receive 64.87 percent of the stock they had requested, according to terms of the merger agreement. The remaining 35.13 percent of their shares would be exchanged for cash in the amount of $20.25 per share, according to the news release.

The exchange agent has completed the review of all election forms submitted prior to 5:00 p.m. on February 19, 2002. Based on this final review, City National Corporation has determined that in accordance with the terms of the merger agreement, Civic shareholders who elected to receive stock will receive 62.76 percent of the shares requested instead of the 64.87 percent previously indicated. The remaining 37.24 percent of their shares will be exchanged for cash in the amount of $20.25 per share.

For shares held in brokerage accounts, an adjustment will be processed through the Depository Trust Company on March 15, 2002 to reflect the final terms.