Crescent State Bank Sponsors Make-A-Wish Child To Disney World

MMI Associates, Inc.
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For Immediate Release Contact: Patty Briguglio (919) 233-6600

Crescent State Bank Sponsors Make-A-Wish Child To Disney World
Garner Community Bank To Send Terry Eason To Disney World

GARNER, N.C. – Michael G. Carlton, president of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), has announced that the Garner office will serve as the sponsor for Terry Eason, a Wish Child from Make-A-Wish Foundation®. To fulfill his wish, Crescent State Bank will send Eason and his family to Disney World for a week. He will be honored with a party sponsored by RushHour Karting on Nov. 2 from 7-9 p.m. at their Garner location. The Make-A-Wish Foundation® of Eastern Carolina, along with corporate sponsors, grants wishes to children with life-threatening medical conditions to enrich the human experience with hope, strength and joy.

“Crescent State Bank is honored for the opportunity to send Terry to Disney World,” said Julie Clark, assistant vice president of Crescent State Bank. “He is a very deserving young man, and we are excited to celebrate this occasion with him and his family.”

About the Make-A-Wish Foundation®:
The Make-A-Wish Foundation® of Eastern North Carolina has one purpose – to grant wishes to children between the ages of 2 ½ and 18 with life-threatening medical conditions. The benefits of wish fulfillment are many and varied. Though it is difficult to measure the effects a wish has on a child, we believe that while doctors provide the medicine, the Make-A-Wish Foundation provides the magic. For more information, call 919-821-7111 or visit http://www.eastncwish.org.

About Crescent Financial Corporation:
Crescent Financial Corporation is the bank holding company for Crescent State Bank in Cary, North Carolina and Port City Capital Bank in Wilmington, North Carolina. The Company has total assets of approximately $684 million, deposits of approximately $540 million, and loans of $519 million as of September 30, 2006, with eleven full service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Pinehurst, Raleigh and Wilmington, North Carolina.

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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.

Patty Briguglio
MMI Associates, Inc.
919-461-3831
Patty@mmimarketing.com
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