Commonwealth Business Bank Announces Results of the First Annual Meeting of Shareholders.

LOS ANGELES -- Commonwealth Business Bank (OTCBB:CWBB) (the "Company") held its First Annual Meeting of Shareholders on November 9, 2005 at 9:30 a.m. Pacific time, at the Company's offices located at 5055 Wilshire Boulevard, Los Angeles, California.

Shareholders of record as of the close of business on September 26, 2005 were entitled to vote at the meeting. Majority of the eligible voters were represented in person or by proxy for each proposal. The shareholders voted in favor of and adopted the following three proposals:

1.  To elect the nine nominees, Wun Hwa (Jack) Choi; Wonsook A.
        Chong, G. Timothy Haight, DBA; Jaehee C. Kim; Peter E. Lowe;
        David A. McCoy; Sook Han Pak; Stuart A. Whang and Choong Y.
        Yea to the Board of Directors to serve until the 2006 Annual
        Meeting of the Shareholders.
    2.  To approve the Commonwealth Business Bank 2004 Stock Option
        Plan.
    3.  To ratify the appointment of Choi, Kim & Park, LLP as the
        Company's independent auditors for the year ending December
        31, 2005.

Following the annual shareholders' meeting, the Board of Directors re-elected G. Timothy Haight, DBA as Chairman of the Board.

"We are pleased to report to our shareholders our accomplishments. The performance of the first six months shows that our new approach is recognized. We have set several records as a de novo bank; the fastest achievements in assets reaching $100 million and profitable operation on a monthly basis in less than 6 months. This initial success bodes well for our future," said Mr. Choi.

"We owe our success to a disciplined management. Discipline enables an organization to withstand short-term frenzies of the market. History proves that discipline is always the key to long-term and consistent value creation. Commonwealth Business Bank is organized and managed by people who understand the value of discipline and are committed to executing that belief," Mr. Choi concludes.

Commonwealth Business Bank is a full service, State-Chartered commercial bank founded to serve the financial needs of individuals, professionals, and small and medium-sized businesses. The Bank provides a wide range of banking products and services delivered by experienced and professional bankers. For more information about the Bank, please visit us at www.cwbbank.com or call [phone].