Alabama National BanCorporation Announces Acquisition of Indian River Banking Company of Vero Beach, Florida - Conference Call Scheduled

Business Wire, Oct 22, 2003

This press release contains forward-looking statements as defined by federal securities laws. Statements contained in this press release which are not historical facts are forward-looking statements. Such statements include the parties' expected closing date of this transaction, which is subject to certain conditions.

The statements regarding the parties expectations for the proposed transaction's impact on ANB's future earnings and earnings per share, are also forward-looking statements. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among others, the following: (1) revenues following the proposed transaction are lower than expected; (2) competitive pressure among depository institutions increases significantly; (3) changes in the interest rate environment reduce interest margins; (4) general economic conditions are less favorable than expected; (5) expected cost savings from the proposed transaction cannot be fully realized or realized within the expected time frame; (6) costs or difficulties related to the integration of ANB and Indian River are greater than expected; or (7) legislation or regulatory changes adversely affect the business in which the combined company would be engaged. ANB and Indian River undertake no obligation to update these statements following the date of this press release. In addition, ANB and Indian River, through their senior management, may from time to time make forward-looking public statements concerning the matters described herein. Such forward-looking statements are necessarily estimates reflecting the best judgment of such senior management based upon current information and involve a number of risks and uncertainties. Certain factors which could affect the accuracy of such forward-looking statements are identified in the public filings made by ANB and Indian River with the Securities and Exchange Commission, and forward-looking statements contained in this press release or in other public statements of ANB and Indian River or their senior management should be considered in light of those factors. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements.