Matrix Bancorp Changes Name to United Western Bancorp; New Ticker Symbol: UWBK

Matrix Bancorp, Inc. (Nasdaq:MTXC), a holding company,
today announced that it has changed its name to United Western
Bancorp, Inc., and that it has likewise changed the name of its
principal operating subsidiary from Matrix Capital Bank to United
Western Bank.
   The name change, which was approved at the June 2006 annual
meeting of shareholders, is designed to reflect the western heritage
of the Colorado Front Range, where the Company intends to focus its
efforts on building a network of community bank branches managed by
experienced Colorado bankers.
   The Company will continue trading on the Nasdaq Global Market,
where effective Sept. 7 it will appear under the new ticker symbol
"UWBK."

   About United Western Bancorp

   Denver-based United Western Bancorp, Inc. is focused on developing
its community-based banking network through its subsidiary, United
Western Bank, by strategically positioning branches across Colorado's
Front Range market. The area spans the Eastern slope of the Rocky
Mountains -- from Pueblo to Fort Collins, and includes the
metropolitan Denver marketplace. United Western Bank plans to grow its
network to an estimated five to seven community bank branches over the
next three to five years. For more information, please visit our Web
site at www.unitedwesternbancorp.com.

   Certain statements contained in this press release that are not
historical facts, including, but not limited to, statements that can
be identified by the use of forward-looking terminology such as "may,"
"will," "expect," "anticipate," "predict," "believe," "plan,"
"estimate" or "continue" or the negative thereof or other variations
thereon or comparable terminology, are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of
1995, and involve a number of risks and uncertainties. The actual
results of the future events described in such forward-looking
statements in this earnings release could differ materially are: the
timing of regulatory approvals or consents for new branches or other
contemplated actions; the availability of suitable and desirable
locations for additional branches; and the continuing strength of our
existing business, which may be affected by various factors,
including, but not limited to, interest rate fluctuations, level of
delinquencies, defaults and prepayments, general economic conditions,
and competition; the delay in or failure to receive any required
shareholder approvals of the contemplated actions; and the risks and
uncertainties discussed elsewhere in the annual report for the year
ended December 31, 2005, filed with the Securities and Exchange
Commission on March 15, 2006; in the quarterly report for the first
quarter ended March 31, 2006, filed with the Securities and Exchange
Commission on May 11, 2006; in the quarterly report for the second
quarter ended June 30, 2006, filed with the Securities and Exchange
Commission on August 11, 2006; and the uncertainties set forth from
time to time in the Company's other periodic reports, filings and
other public statements.