FREDERICK WILLETTS, III AND TODD L. SAMMONS TO SPEAK AT THE 13^TH ANNUAL COMMUNITY BANK CONFERENCE

 For Immediate Release:  August 12, 2008

Wilmington, NC—Frederick Willetts, III, Chairman and President of Cooperative Bankshares, Inc. (the “Company”), (NASDAQ:“COOP”) will be a guest speaker at the 13^th Annual Community Bank Conference hosted by Howe Barnes Hoefer & Arnett, Inc.  The conference is being held August 19^th and 20^th in Chicago, Illinois.  Mr. Todd L. Sammons, Senior Vice President and Chief Financial Officer of the Company will also be a guest speaker.  The presentation is scheduled for Tuesday, August 19^th at 1:40 p.m., Central time and will focus on the Company’s performance and strategies.    

The presentation slides will be filed with the Securities and Exchange Commission prior to the start of the conference. 

Cooperative Bankshares, Inc. is the parent company of Cooperative Bank.  Chartered in 1898, Cooperative Bank provides a full range of financial services through 23 offices in Eastern North Carolina and three offices in South Carolina.  Cooperative Bank’s subsidiary, Lumina Mortgage Company, Inc., is a mortgage banking firm, originating and selling residential mortgage loans through five offices in North Carolina.

For additional information:
Frederick Willetts, III or
Todd L. Sammons
910-343-0181