WILLETTS TO SPEAK AT THE
                  SOUTHEAST 2007 SUPERCOMMUNITY BANK CONFERENCE

For Immediate release:  February 9, 2007

      Wilmington, NC-Frederick Willetts, III, Chairman and President of
Cooperative Bankshares, Inc. (the "Company"), (NASDAQ:"COOP") will be a guest
speaker at the Southeast 2007 SuperCommunity Bank Conference on Thursday,
February 15, 2007 in Atlanta, Georgia.  Mr. Willetts' presentation is
scheduled for 10:45 a.m. Eastern Time and will focus on the Company's
performance and strategies.

      The presentation slides will be filed with the Securities and Exchange
Commission prior to the start of the conference.  The presentation will be
accessible "live" during the conference on the following site:
http://www.investorcalendar.com/IC/CEPage.asp?ID=113467&CID=.  It will also
be available on the Company's website at: www.coop-bank.com where it will be
archived until March 15, 2007.

      Cooperative  Bankshares,  Inc.  is the  parent  company  of  Cooperative
Bank.  Chartered in 1898,  Cooperative Bank provides a full range of financial
services  through 21 offices in Eastern  North  Carolina.  Cooperative  Bank's
subsidiary,  Lumina  Mortgage  Company,  Inc.,  is a  mortgage  banking  firm,
originating  and selling  residential  mortgage loans through three offices in
North Carolina.

                         For additional information:
                           Frederick Willetts, III
                                 910-343-0181