Local Resident Wins IPOD At Crescent State Bank Grand Opening

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

Local Resident Wins IPOD At Crescent State Bank Grand Opening
Community Bank Gives Prize To Eric Vernon At Sanford Ribbon Cutting Ceremony

Sanford, NC – Eric Vernon, a Sanford resident, won the drawing at Crescent State Bank’s Sanford office ribbon cutting and grand opening celebration. Doug Gay, City Executive for the bank’s Sanford office, a wholly-owned subsidiary of Crescent Financial Corporation, (Nasdaq SmallCap CRFN), presented Vernon, with an Apple iPod.

“Crescent State Bank appreciates the support of employees, clients and town leadership,” said Gay. “We are pleased to celebrate our grand opening with the Sanford 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 $405 million, deposits of approximately $313 million, and loans of $318 million as of September 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, and a loan production office in Raleigh.

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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