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                                                                  MEDIA CONTACT:
                                                                  Vicki Cox
                                                                  (410) 277-2063
                                                    FINANCIAL COMMUNITY CONTACT:
                                                                  Ellen Grossman
                                                                  (410) 277-2889


                 PROVIDENT EXECUTIVE GARY GEISEL NAMED PRESIDENT
                           AND CHIEF OPERATING OFFICER


         BALTIMORE (January 9, 2001) Provident Bankshares Corporation (NASDAQ:
PBKS) today named Gary N. Geisel President and Chief Operating Officer of
Provident Bankshares Corporation and its principal subsidiary, Provident Bank.
Peter M. Martin will continue to serve as Chairman and Chief Executive Officer
of the Corporation and the Bank.

         "I am pleased to announce Gary's appointment as our President," Martin
said. "He is a skilled and experienced banker with strong personal and
professional roots in the communities we serve. I believe that his leadership,
combined with that of our executive and senior managers, will continue the
market growth and solid financial performance that Provident has achieved over
the last 10 years."

      Geisel joined Provident Bank in 1997 as Group Manager of Community
Banking. In 1999, he was promoted to the three-member Office of the Chairman
reporting to Martin along with Provident executives John F. Novak and Richard J.
Oppitz Jr. The Office of the Chairman was responsible for the development and
implementation of corporate strategies as well as management of all Provident
staff, operations and business units.

         In conjunction with the appointment of the new Provident President,
Novak and Oppitz have been named Executive Vice Presidents of Provident Bank.
Chief Financial Officer Dennis Starliper has also been named an Executive Vice
President of the Bank and will continue as CFO of the Corporation and the Bank.

      Chairman Martin, President Geisel, and Executive Vice Presidents Novak,
Oppitz and Starliper will serve as the Bank's executive team. They have been
working closely together for the last two years and, in cooperation with the
Bank's Group Managers and Managing Directors, will continue to develop and
implement Provident's strategic business initiatives. New management structures
and reporting assignments within the company will be implemented over the next
two months.




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         "I am truly excited by the opportunity to serve as Provident's
President," Geisel said. "We are well positioned for the future, thanks to the
successful execution of our business strategies originally established by Pete
Martin and his predecessor, Carl Stearn. These accomplishments are the result of
the leadership of our management team and the hard work and initiative of
employees throughout the organization. We are proud of our accomplishments, yet
I believe even greater success lies in our future. We have the opportunity to
build on our strong foundation to firmly establish Provident as a banking leader
in the highly attractive markets we serve. I look forward to working with the
leadership team to refine our business strategies, enhance our financial
performance and increase our value to customers, employees and shareholders."

      Geisel has more than 30 years of banking experience. Since joining
Provident, he has been responsible for the business initiatives of the Community
Banking, Human Resources and Marketing Divisions as well as the Operations Group
and the bank's Provident Investment Center subsidiary. Geisel directed
Provident's 1997 acquisition of Montgomery County-based Citizens Savings Bank
and the 2000 acquisition of Baltimore-based Harbor Federal Savings Bank, as well
as the company's growth into the Northern Virginia market and in-store branch
expansion with partners Metro Foods, Wal-Mart and Shoppers Food Warehouse.

         Before joining Provident, Geisel served as Executive Vice President,
Retail Banking, for Citizens Bank in Laurel, MD. Prior to that, he had been
Senior Vice President, Branch Administration, for Equitable Bank in Baltimore
and Senior Vice President, Community Banking, for Equibank in Pittsburgh, PA.

         Geisel serves on the boards of directors for Goodwill Industries and
Westminster House and the advisory board of the National Aquarium. He is a past
board member of the Maryland Bankers Association and the Prince George's
Community Foundation.

      A graduate of Edinboro University at Pennsylvania, Geisel also received
his MBA degree from Duquesne University in Pittsburgh, PA. He lives in Severna
Park, MD, with his wife and son.

      Provident Bankshares Corporation is the holding company for Provident
Bank, the second largest independent commercial bank headquartered in Maryland.
With more than $5.7 billion in assets, Provident serves individuals and
businesses in the dynamic Baltimore-Washington corridor through a network of 98
offices in Maryland, Northern Virginia and southern York County, PA. Provident
Bank also offers related financial services through its wholly owned
subsidiaries. Mutual funds, annuities and insurance products are available
through Provident Investment Center and leases through Court Square Leasing and
Provident Lease Corp. Visit Provident on the web at www.provbank.com
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