Bank of the Carolinas Declares a Cash Dividend MOCKSVILLE, N.C., Sept. 17 /PRNewswire-FirstCall/ -- Bank of the Carolinas (OTC:BCAR) (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 October 12, 2004, to shareholders of record on September 27, 2004. This will be the fourth cash dividend paid by the bank since it opened on December 7, 1998. Bank of the Carolinas is a state-chartered bank, headquartered in Mocksville, NC, with offices in Advance, Asheboro, Carthage, Cleveland, Harrisburg, Landis and Lexington. 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 106 York Way Advance, NC 27006 (336) 998-1799, ext. 219 DATASOURCE: Bank of the Carolinas CONTACT: J. A. Bush, Chief Financial Officer of Bank of the Carolinas, +1-336-998-1799, ext. 219 Web site: http://www.bankofthecarolinas.com/

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