Crescent State Bank’s James Byrd Appointed to Sandhills Center for Entrepreneurial Leadership Advisory Board

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

Crescent State Bank’s James Byrd Appointed to
Sandhills Center for Entrepreneurial Leadership Advisory Board
Local Bank Senior Vice President Joins Sandhills Community College Board

SOUTHERN PINES, N.C.– James F. Byrd, Senior Vice President of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (Nasdaq National Market: CRFN), has been appointed to the newly formed Sandhills Center for Entrepreneurial Leadership Advisory Board at Sandhills Community College. In this position, Byrd will work with other community and business leaders providing guidance to the college on current and future trends for entrepreneurs.

“I am honored to serve on the Entrepreneurial Leadership Advisory Board,” said Byrd. “Sandhills Community College is taking the lead on an important topic in today’s business world.”

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.

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MMI Associates, Inc.
Patty Briguglio
919-233-6600
Patty@mmimarketing.com