Community Bankshares Inc. Makes Inaugural List of South Carolina's Fastest-growing Companies.

Business Editors

ORANGEBURG, S.C.--(BUSINESS WIRE)--Nov. 27, 2002

Prestigious New List Recognizes Top 25

Fastest-growing Companies From Across State

Community Bankshares Inc. (AMEX: SCB) received the South Carolina's Fastest-Growing Companies Top 25 Achievement Award at a special reception and luncheon hosted by Elliott Davis and the South Carolina Chamber of Commerce on Friday, November 8 in Greenville, South Carolina.

Community Bankshares was one of 25 companies from across the state to be ranked among South Carolina's Fastest-Growing Companies, the exclusive new ranking co-sponsored by Elliott Davis, LLC, the largest CPA firm headquartered in South Carolina, and the South Carolina Chamber of Commerce. This award is the state's first recognition initiative that focuses on the achievements of emerging privately and publicly-owned businesses and their contributions to the state's economy.

Accepting the award on behalf of Community Bankshares was E.J. Ayers, Jr. Chairman and Chief Executive Officer. Ayers said:

"We are honored to be among the 25 fastest growing companies in South Carolina. We want to thank the Chamber of Commerce and Elliott Davis for conducting this competition, it is a terrific idea and it shows how much they believe in South Carolina. We think this award recognizes our company's strategic approach to safe and sound growth in the community bank marketplace. We're delighted with the attention this award brings to us, but more importantly we're delighted with the variety and magnitude of the companies on the list. It's a testament to the strength of our state's business community. Community Bankshares is proud to be a South Carolina company."

South Carolina's Fastest-Growing Companies 2002 rankings were determined by using a weighted equation tied to percentage of increase in three areas: gross revenues (or assets), full-time employees and capital investment. Nominations were accepted from public and private non-governmental entities representing any business or industry sector. Other eligibility requirements included: (a) nominee must be headquartered in South Carolina; (b) nominee must have been in operation for at least two full fiscal years; (c) nominee must have had revenues of at least $3 million ($50 million in assets for financial institutions) in the most recent reported year.

Nominees for South Carolina's Fastest-Growing Companies 2002 represented a cross section of the state's businesses in terms of years in business, size, industry sector, geographical location and more.

Community Bankshares' common stock is traded on the American Stock Exchange under the ticker symbol SCB. Community Bankshares Inc., based in Orangeburg, South Carolina, is the holding company for Bank of Ridgeway, Community Resource Mortgage Inc., Florence National Bank, Sumter National Bank and Orangeburg National Bank.

This press release contains forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, and several factors could cause actual results to differ materially from those in the forward-looking statements. Forward-looking statements relate to anticipated revenues, gross margins, earnings, and growth of the market for our services and products. The following factors, among others, could cause actual results to differ from those indicated in the forward-looking statements: uncertainties associated with market acceptance of and demand for the company's services and products, impact of competitive products and pricing, dependence on third party suppliers, and uncertainties associated with the development of technology. Investors are directed to the company's 2001 annual report, which is available from the company without charge for a more complete description of the company's business.