Allegiance Bank of North America Hold Annual Shareholders Meeting on June 8, 2005

Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
A.B.Ports Assd	LSE:ABPA	London	Ordinary Share	GB00B1765577	ORD 25P (ASSD ADMIRAL LN NTS)

Industry Sector	Turnover	Profit	EPS - Basic	PE Ratio	Market Cap
	0	0		N/A	0

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Allegiance Bank of North America Hold Annual Shareholders Meeting on June 8, 2005 BALA CYNWYD, Pa., June 14 /PRNewswire-FirstCall/ -- Allegiance Bank of North America (OTC:ABPA) (BULLETIN BOARD: ABPA) , held its annual shareholders meeting on June 8, 2005. The following Directors of the Bank were re-elected: C. Andrew Cook and Edgar D. Landis were re-elected as Class I directors, each of whose term will expire in 2006, Lawrence A. Isdaner and Thomas J. MacCrory were re-elected as Class II directors, each of whose term will expire in 2007, Robert Kramer, Stanley Engle and Amos B. Smith, III were re-elected as Class III directors, each of whose term will expire in 2008. C. Andrew Cook, President and Chief Executive Officer, also announced that the Bank's new branch, located in the Old City section of Philadelphia which opened on April 21, 2005, had already generated $3.6 million of deposits as of May 31, 2005. The Bank is continuing its branching strategy with plans to open a Loan Production Office in Frazer, PA followed by a new branch in King of Prussia, PA by the end of this year. Generally, the Bank intends to enter new markets by opening relatively inexpensive Loan Production Offices to generate loans prior to establishing a full service branch. Lastly, Allegiance announced that its Chief Lending Officer, Alexander Kroll has been promoted to Executive Vice President. Allegiance Bank of North America is a Pennsylvania state-chartered full- service commercial bank formed in 1999, headquartered in Bala Cynwyd, Pennsylvania. The Bank offers a sophisticated package of services beyond traditional bank services, such as escrow account management, specialty real estate lending programs, internet banking and non-bank services including title insurance, real estate settlement services, financial planning, life and health insurance and retirement programs through its three subsidiaries, Allegiance Financial Services, Inc., AllSearch Abstract, LLC, and Paramount Mortgage and Capital, LLC. The common stock of the Company is traded on OTC Bulletin Board under the symbol ABPA. Statements contained in this news release, which are not historical facts, are forward looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995. Amounts herein could vary as a result of market and other factors. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors. Such forward-looking statements may be identified by the use of such words as "believe," "expect," "anticipate", "should," "planned", "estimated," and "potential". Examples of forward-looking statements include, but are not limited to, estimates with respect to the financial condition, expected or anticipated revenue, results of operations and business of the Company that are subject to various factors which could cause actual results to differ materially from these estimates. These factors include, but are not limited to, general economic conditions, changes in interest rates, deposit flows, loan demand, real estate values, and competition; changes in accounting principals, policies, or guidelines; changes in legislation or regulation; and other economic, competitive, governmental, regulatory, and technological factors affecting the Company's operations, pricing, products and services. DATASOURCE: Allegiance Bank of North America CONTACT: C. Andrew Cook, President and Chief Executive Officer for Allegiance Bank of North America, +1-610-949-0760

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ABPA A.B.Ports Assd