Press Release

Contact: Denise Lollis
Phone: 864-942-1597

For Immediate Release
December 6, 2002
Contact: Denise Lollis
(864)-942-1597

Countybanc Insurance Enters into Partnership with New York Life

Greenwood, SC- Countybanc Insurance Inc., a subsidiary of Countybank, has partnered with New York Life Insurance Company to provide the Greenwood community with an enhanced product line that includes advanced financial, estate planning and insurance needs.

Through this partnership, Countybanc Insurance will have access to New York Life Insurance's extensive product line through a cooperative effort with Ward Carson, CLU, local New York Life Insurance Agent, and an on-site, full-time New York Life licensed agent as part of the Countybanc Insurance team. Together, Countybanc Insurance and New York Life will offer advanced insurance products designed to assist clients in meeting their goals in the following areas:

Survivor needs
Mortgage protection
Education funding
Retirement funding
Employee benefits
Deferred Compensation & other Executive Benefits
Charitable giving

This partnership brings together the premier financial institution in Greenwood and one of the largest life insurance companies in the world. "We are pleased to offer our customers these nationally recognized financial services products," said R. Thornwell Dunlap, III, president and CEO of Countybank. "This partnership represents our commitment to meet the diverse financial needs of our clients and the Greenwood community."

"Countybank and Countybanc Insurance already have an extensive product line," said James R. Fowler, Jr, executive vice president of Countybank. "The addition of New York Life expands the depth of our existing product offerings, enabling us to tailor financial and insurance products with an even higher degree of expertise. Ward Carson will be a tremendous asset to our customers, as well as our associates."

Ward Carson, Chartered Life Underwriter, who has a New York Life Insurance Office at 308-A West Cambridge, has already begun introducing Countybank customers to the new product line.

"Countybank clients have enthusiastically embraced this new relationship," said Carson. "They can now also benefit from the strength and integrity of New York Life and Countybank, yet have the personal touch of working with local, insurance professionals."

Joining Carson by year-end will be a full-time licensed agent who will work directly with the Countybanc Insurance agency to provide New York Life products to all Countybanc Insurance clients.

"We are looking forward to the addition of a New York Life Insurance agent to our team," said Mike DiMaina, president of Countybanc Insurance. "The additional training and products now available to us by being part of an internationally recognized insurance company will only enhance the superior products and services offered by Countybanc Insurance today."

Founded in 1845 and headquartered in New York City, New York Life Insurance Company is a Fortune 100 company offering traditional life insurance, annuities, and long-term care insurance. The largest mutual life insurance company in the United States and one of the largest life insurers in the world, New York Life provides institutional asset management, retirement plan and trust services.

Countybank and Countybanc Insurance have served the Greenwood community since 1933 and 1919, respectively. Today, the locally owned bank offers consumers and businesses a complete family of financial services that include trust, mortgage, investments, insurance, and traditional banking services.