Largest Shareholder in American Community Bancshares Calls for Sale of Bank, Board Action in SEC Filing

Business Wire, Sept 7, 2007

MIAMI -- The largest shareholder in American Community Bancshares, Inc. (NASDAQ:ACBA) yesterday asked the board of directors of the Charlotte-based bank to consider selling the financial institution due to its prolonged poor performance.

Marla Braun of Miami, who owns 475,862 shares, representing 6.8% of the outstanding shares, filed a Schedule 13D/A document with the U.S. Securities and Exchange Commission expressing deep dissatisfaction with the performance of the bank and its management.

In the filing dated Sept. 6, 2007, which included a letter to Chairman of the Board Randy P. Helton and Lead Director Robert G. Dinsmore, Braun specifically cited that the bank is "in an envious position in North and South Carolina and is worth considerably more than the current stock price reflects. Accordingly, it is crystal clear that the management of the company needs advice and assistance from a financial advisor in order to rid us of our stagnant stock price. Perhaps the engagement of a financial advisor to explore the company's strategic alternatives should be considered, including the sale of the bank."

Braun closed her letter by requesting that her observations be shared with the board of directors and by noting that she is considering the possibility of "submitting certain issues for consideration at the next shareholders meeting, if I do not receive a satisfactory response."

A copy of the SEC filing and the letter is available at: http://www.sec.gov/Archives/edgar/data/1106980/000095014407008413/g093 50sc13dza.htm (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.)