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Surrey Bank & Trust Announces the Formation of Friendly Finance

2 August 2000

Surrey Bank & Trust Announces the Formation of Friendly Finance

    MOUNT AIRY, N.C. - Surrey Bank & Trust announced the formation of Friendly 
Finance, LLC, a subsidiary operation specializing in the purchase of sales 
finance contracts from local automobile dealers.  The operation is a strategic 
alliance between Surrey Bank & Trust and Friendly Auto Finance, Inc.  Surrey 
Bank & Trust will own a majority interest in the new company.

    Ted Ashby, President of Surrey Bank & Trust, stated the alliance was a
result of an existing banking relationship with Robert W. Holder, owner of
Friendly Auto Finance, Inc. and Friendly Car Company, Inc.  Friendly Auto
Finance, Inc. provides financing for automobiles sold by Friendly Car Company,
Inc.  Holder has enjoyed success in the automobile business for twenty years.
The newly-formed operation will continue to purchase loan contracts from
Friendly Car Company, Inc. and will seek to expand financing activities with
other local auto dealers.  Ashby stated that the operation will allow Surrey
Bank to broaden its customer base for banking services and provide a referral
base for Lowry Insurance Agency, Inc., a wholly owned subsidiary of the Bank,
specializing in casualty insurance.

    Surrey Bank & Trust, chartered in 1996, is a locally owned financial
institution with its headquarters at 145 North Renfro Street, a full service
branch location at 1280 West Pine Street and a Mortgage Loan Center at
145 North Renfro Street.