Main Street Bancorp, Inc. Announces the Formation of Main Street Trust Company

Business Wire, April 19, 2000

Business Editors

READING, Pa.--(BUSINESS WIRE)--April 19, 2000

Main Street Bancorp, Inc. is pleased to announce the signing of a letter of intent for the formation of Main Street Trust Company.

Main Street Trust Company is a joint venture between Main Street Bank and the Trust Company of Lehigh Valley. Main Street Bank will own a majority interest in the new entity.

Nelson R. Oswald, Chairman, stated, "In forming this joint venture we were looking for a partner with a depth of experience in the trust and investment services business. In the Trust Company of Lehigh Valley, we found a partner with a proven track record of providing the level of service which our customers have come to expect from Main Street Bank."

As a part of the transaction, Main Street Bancorp, Inc. will hold a minority interest in Paragon Group, Inc., the holding company of the Trust Company of Lehigh Valley.

This transaction is subject to regulatory approval.

Main Street Bancorp, Inc. with assets of $1.6 billion, is a Pennsylvania corporation headquartered in Reading, PA and is a registered bank holding company that operates Main Street Bank, a State Chartered, Federal Reserve Member, FDIC insured community bank. Main Street Bancorp, Inc. stock is traded on the National Association of Securities Dealers Automated Quotation System (NASDAQ) under the symbol "MBNK."