[Sentry Bank & Trust Logo]

FOR IMMEDIATE RELEASE

Sentry Bank & Trust Announces New Chief Executive Officer

Cheraw, SC - January 2, 2004 - Great Pee Dee Bancorp, Inc. (NASDAQ:PEDE)
announced today that John S. Long has been promoted to Chief Executive Officer
of Sentry Bank & Trust, effective January 1, 2004.

Mr. Long joined Sentry Bank & Trust in 1997 as the Chief Operating Officer and
was promoted to President in 2003. Under Mr. Long's leadership, Sentry Bank &
Trust's assets have increased from $69 million to $152 million, a record-setting
gain. Mr. Long was also instrumental in transforming Sentry Bank & Trust from a
thrift institution to a banking association and entering the Florence market.

In the announcement, Herbert W. Watts welcomed Mr. Long's promotion. "Under
John's capable leadership, the bank will continue to grow and provide excellent
services to the communities we serve." Mr. Watts will continue to serve as
President and CEO of the Parent Company, Great Pee Dee Bancorp, Inc., as well as
Vice-Chairman of the Board of Directors of the Bank. He will focus on strategic
planning and other responsibilities of the holding company.

Commenting on his appointment, Mr. Long said, "I am excited about the
opportunities at hand and understand the large responsibility we have to our
shareholders and customers. I look forward to continued growth and success for
Sentry Bank & Trust in 2004."

Sentry Bank & Trust operates branches at 515 Market Street in Cheraw, S.C. and
at 452 Second Loop Road in Florence, S.C. It will open a new headquarters at 901
Chesterfield Highway in Cheraw in February. The bank offers accounts and loans
to meet the needs of individuals, families, and businesses. It also offers
investment services.

Sentry Bank & Trust is a $152 million savings bank serving the Pee Dee area
since 1935. It is a subsidiary of Great Pee Dee Bancorp, Inc. The company's
stock trades on the NASDAQ market under the symbol "PEDE".

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Contact: Herbert W. Watts
         843-537-7656