Bank of the Carolinas Announces First Cash Dividend

Bank of the Carolinas Announces First Cash Dividend 


MOCKSVILLE, N.C., Dec. 17  /PRNewswire-FirstCall/ -- Bank of the Carolinas 
(BULLETIN BOARD: BCAR) , announced today that, at its regular meeting of its
Board of Directors held today, the Board declared a cash dividend of $.05 per
share of its common stock, payable on January 15, 2004, to shareholders of
record on January 2, 2004.  This will be the first cash dividend paid by the
bank since it opened on December 7, 1998.

Robert Marziano, President and CEO of Bank of the Carolinas, stated, "We are
proud of the progress the bank has made and are pleased to be able to pay this
dividend as a token of the Board's appreciation for the continued support of its
shareholders."

Bank of the Carolinas is a state-chartered bank, headquartered in Mocksville,
NC, with offices in Advance, Asheboro, Carthage, Cleveland, Harrisburg and
Landis.

The bank's common stock is traded on the OTC Bulletin Board under the symbol
BCAR.  Market makers include Scott & Stringfellow, Inc., Monroe Securities, and
Baid, Patrick and Company.  Additional information about Bank of the Carolinas
is available on its website at http://www.bankofthecarolinas.com/ .

   For further information contact:
   J. A. Bush
   Chief Financial Officer
   Bank of the Carolinas
   135 Boxwood Village Drive
   Mocksville, North Carolina 27028
   [phone]


DATASOURCE: Bank of the Carolinas



CONTACT:  J. A. Bush, Chief Financial Officer of Bank of the Carolinas,

[phone]



Web site:  http://www.bankofthecarolinas.com/ 

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