New Century Bank Appoints Private Equity Investor to its Board of Directors

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New Century Bank announced today that it has appointed to its Board of Directors Mr. Bhanu Choudhrie, a private equity investor with investments in the United States, United Kingdom, Europe and Asia.

We are very pleased that Bhanu has agreed to invest in our bank and to join our board

New Century Bank announced today that it has appointed to its Board of Directors Mr. Bhanu Choudhrie, a private equity investor with investments in the United States, United Kingdom, Europe and Asia.

Mr. Choudhrie is a pioneering entrepreneur based in the United Kingdom incubating business worldwide. He is Executive Director of the London-based family-owned holding company with investments in the fields of hospitality, health, travel, real estate, energy and aviation.

"We are very pleased that Bhanu has agreed to invest in our bank and to join our board," commented New Century Chairman and CEO Jay Sidhu. "He brings a wealth of experience and a global perspective that are critical to success in today's environment," continued Sidhu.

Mr. Choudhrie was named Entrepreneur of the Year at the 2008 Asian Voice Political and Public Life Awards in the UK.

"I look forward to working with Jay and the rest of the New Century Bank board," stated Choudhrie. "I believe there are tremendous opportunities for the bank and providing superior returns to shareholders. Also, it is exciting to be expanding my private equity investments in the United States."

Pennsylvania's New Century Bank, with branches in Phoenixville, Kimberton, Malvern, Newtown Square and Wayne, has been a full-service, community bank since opening in 1997. Actively supporting community events and causes, New Century Bank is locally owned and administered. For more information visit New Century Bank online at http://www.newcenturybank.com.

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JAY S. SIDHU

Todd Palmer
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