Pacific Capital Bancorp Explains Ticker Symbol Confusion

Business Wire, April 27, 1999

SANTA BARBARA, Calif.--(BUSINESS WIRE)--April 26, 1999--

Pacific Capital Bancorp (Nasdaq:SABB) is the parent company of Santa Barbara Bank & Trust, First National Bank of Central California and its affiliate, South Valley National Bank.

Pacific Capital has become aware of some confusion regarding the ticker symbol assigned to Pacific Capital Bancorp prior to its merger with Santa Barbara Bancorp on Dec. 30, 1998. Santa Barbara Bancorp, the surviving corporation, assumed the name Pacific Capital Bancorp at the time of the merger, but retained the ticker symbol SABB so that historical stock trading information (which is tied to the symbol) would be consistent with trading information after the merger. Subsequent to the merger, the ticker symbol formerly used by Pacific Capital Bancorp was assigned to PanAmerican BanCorp. There is no relation between Pacific Capital Bancorp and PanAmerican BanCorp.

Because many Internet search engines and Web sites use the ticker symbol to index news releases and other corporate and financial information, Internet users searching for information on Pacific Capital Bancorp using its old ticker symbol will receive current information on PanAmerican BanCorp as well as older information relating to Pacific Capital Bancorp prior to Dec. 30, 1998. This may appear erroneous; however it is entirely accurate since it was the symbol for Pacific Capital Bancorp at the time this news was released.

Pacific Capital Bancorp does not have control over the Internet search engines or investment-oriented Web sites and regrets any confusion that may arise from this matter.

Pacific Capital Bancorp shareholders and other interested parties are encouraged to make certain that they use both the SABB symbol and the company name, Pacific Capital Bancorp, in any searches for information about Pacific Capital.

PanAmerican BanCorp has issued a similar news release regarding this matter.