Released on: September 11, 2008, 8:27 am

Press Release Author: MMI ASSOCIATES, INC.

Industry: Financial

Press Release Summary: Michael G. Carlton, president of Crescent State Bank
(www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial
Corporation, (NASDAQ Global MarketSM), has announced that the bank will sponsor the
Greater Raleigh Chamber of Commerce 120th Annual Meeting and Chairman’s Reception.


Press Release Body: CARY, N.C. – Michael G. Carlton, president of Crescent State
Bank (www.crescentstatebank.com), a wholly owned subsidiary of Crescent Financial
Corporation, (NASDAQ Global MarketSM), has announced that the bank will sponsor the
Greater Raleigh Chamber of Commerce 120th Annual Meeting and Chairman’s Reception.
The event will take place on Tuesday, Sept. 16 at the new Raleigh Convention Center
located at 2 East South St. The invitation only Chairman’s Reception will be held
in the upper level of the Convention Center lobby in room 402 from 5 – 5:45 p.m.
The event will also include an opening reception, a program featuring speaker Ben
Stein and a coffee and dessert networking reception. Parking for the event is
available in the lot between South and Lenoir Streets or in the parking deck across
the street from the Convention Center.

Related Links:
www.crescentstatebank.com
www.raleighchamber.org
www.raleighconvention.com
www.mmimarketing.com

News Facts:
• Michael G. Carlton, president of Crescent State Bank (www.crescentstatebank.com),
a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global
MarketSM), has announced that the bank will sponsor the Greater Raleigh Chamber of
Commerce 120th Annual Meeting and Chairman’s Reception.
• The event will take place on Tuesday, Sept. 16 at the new Raleigh Convention
Center located at 2 East South St.
• The invitation only Chairman’s Reception will be held in the upper level of the
Convention Center lobby in room 402 from 5 – 5:45 p.m.
• The event will also include an opening reception, a program featuring speaker Ben
Stein and a coffee and dessert networking reception.
• Parking for the event is available in the lot between South and Lenoir Streets or
in the parking deck across the street from the Convention Center.

Quotes:
“We are honored to support the Greater Raleigh Chamber of Commerce by sponsoring the
120th Annual Meeting and Chairman’s Reception,” said Carlton. “In showing our
support for the Chamber we are giving back to the community residents and local
businesses and saying thank you for their help in keeping Crescent one of the top
community banks in North Carolina.”

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation.
The bank has total assets of $920.6 million, deposits of $653.7 million, and net
loans of $734.0 million as of June 30, 2008. The bank operates 13 full-service
banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly
Springs, Sanford, Southern Pines, Pinehurst, Raleigh, Knightdale and Wilmington (2),
North Carolina. For more information, visit www.crescentstatebank.com.

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Information in this press release contains \"forward-looking statements.\" These
statements involve risks and uncertainties that could cause actual results to differ
materially, including without limitation, the effects of future economic conditions,
governmental fiscal and monetary policies, legislative and regulatory changes, the
risks of changes in interest rates, and the effects of competition. Additional
factors that could cause actual results to differ materially are discussed in
Crescent Financial Corporation’s recent filings with the Securities and Exchange
Commission, including, but not limited to, its Annual Report on Form 10-K and its
other periodic reports.

Keywords:
Crescent State Bank, Crescent Financial Corporation, Greater Raleigh Chamber of
Commerce, 120th Annual Meeting and Chairman’s Reception, Michael G. Carlton, NASDAQ
Global MarketSM

Patty Briguglio
MMI Associates, Inc.
919-233-6600
patty@mmimarketing.com
PR Firms Raleigh, NC

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Web Site: http://WWW.MMIMARKETING.COM

Contact Details: Patty Briguglio
MMI Associates, Inc.
919-233-6600
patty@mmimarketing.com
PR Firms Raleigh, NC