Crescent State Bank’s Alex Macklin Appointed To Serve As Holly Springs Chamber Of Commerce Ambassador

Released on = July 21, 2005, 8:08 am

Press Release Author = MMI Associates

Industry = Small Business

Press Release Summary = Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN) has announced that Alex Macklin will serve as a member of the Holly Springs Chamber of Commerce’s Ambassador’s Club. In this volunteer position, Macklin will represent the Holly Springs Chamber of
Commerce at business functions and act as a liaison between the Chamber and its members.

Press Release Body = MMI Associates, Inc.
7406-H Chapel Hill Road
Raleigh, NC 27607
(919) 233-6600 • (919) 233-0300 (fax)
patty@mmimarketing.com

For Immediate Release
Contact: Patty Briguglio (919) 233-6600

Crescent State Bank’s Alex Macklin Appointed To Serve As Holly Springs Chamber Of Commerce Ambassador
Mortgage Loan Officer Will Represent Crescent State Bank As Ambassador

Holly Springs, NC – Crescent State Bank, the wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN) has announced that Alex Macklin will
serve as a member of the Holly Springs Chamber of Commerce’s Ambassador’s Club. In this volunteer position, Macklin will represent the Holly Springs Chamber of
Commerce at business functions and act as a liaison between the Chamber and its members.

“I am very pleased to represent Crescent State Bank and the Holly Springs Chamber as Ambassador. This is a wonderful opportunity to come together with other members of the community and reach out to new businesses, build membership, and raise funding
for the Chamber,” said Macklin.

“Crescent State Bank has a history of placing skilled bankers in the communities we serve that can offer the highest quality assistance and education for all of our
customers’ banking needs,” said Bob Myers, City Executive of Holly Springs. “Alex Macklin brings an unparalleled range of experience and service to Crescent State Bank. He will be an asset as we continue our commitment to building loyal, long-term financial relationships with the Holly Springs community.”

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Bank opened in December 1998 to cater to the financial needs of the communities it serves. The bank has total assets of approximately $393 million, deposits of approximately $323 million, and loans of $297million as of June 30, 2005, with nine full service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, and Pinehurst, North Carolina.
(end) Investors can access additional corporate information, product descriptions, and online services through the Bank’s website at http://www.crescentstatebank.com.

Information in this press release contains "forward-looking statements." These statements involve risks and uncertainties that could cause actual results to differ
materially, including without limitation, the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, the
risks of changes in interest rates, and the effects of competition. Additional factors that could cause actual results to differ materially are discussed in Crescent Financial Corporation’s recent filings with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K and its other periodic reports.

Web Site = http://

Contact Details = MMI Associates
7406-H Chapel Hill Road
RAleigh NC 27607
919-233-6600