Crescent State Bank Accepts Donations For Hurricane Relief

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 Accepts Donations For Hurricane Relief
Community Bank Donates $10,000 To American Red Cross;
Collection Point For Community Donations

Cary, NC – Michael G. Carlton, President of Crescent State Bank, a wholly-owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN), has announced that the bank will accept donations for disaster relief from individuals, businesses and organizations through September 30, along with making a $10,000 corporate donation to the American Red Cross. Cash or check donations are welcome. Checks should be made to the American Red Cross with National Disaster Relief Fund in the memo line.

“The devastation created by Hurricane Katrina was massive,” said Carlton. “We hope that our efforts at Crescent State Bank can make a small difference in the lives of those impacted by the disaster.”

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.
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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.

Media and Press Contacts:
MMI Associates, Inc.
Patty Briguglio
919-233-6600
Patty@mmimarketing.com