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                  NOTICE TO DIRECTORS AND EXECUTIVE OFFICERS
                       OF LAKELAND FINANCIAL CORPORATION
                            CONCERNING YOUR RIGHTS
                           REGARDING LAKELAND STOCK

                                August 19, 2004

         On June 23, 2004, we notified you that, as a director or executive
officer of Lakeland Financial Corporation ("Lakeland"), you would be
prohibited from conducting certain transactions in Lakeland securities during
Lakeland's transition of record keepers for the Lakeland Financial Corporation
401(k) Plan. Originally, this prohibition was scheduled to terminate on August
27, 2004. Fidelity Investments, the new record keeper for the Lakeland
Financial Corporation 401(k) Plan, accomplished the transition earlier than
expected. Therefore, the blackout period on trading in Lakeland equity
securities is being terminated, effective today, August 19, 2004. Subject to
the other limitations under the securities laws (Section 16 short swing
trading, insider trading, Rule 144, etc.) you are able to effect trades in
Lakeland stock. Pursuant to our insider trading policy, you are still required
to pre-clear all transactions in Lakeland securities with David Findlay.

         Other than the earlier ending date, there are no material changes in
the information contained in the prior notice.

         If you have any questions regarding this notice, you should contact
David Findlay at (574) 267-9197.