DRAFT




   FOR IMMEDIATE RELEASE
   October 12, 2005


      Great Pee Dee Bancorp, Inc., Announces the Retirement of President and CEO

Cheraw, SC-October 12, 2005-Herbert W. Watts, President and CEO of Great Pee Dee
Bancorp,  Inc., (NASDAQ:  PEDE) announced his retirement  effective December 31,
2005 at the Great Pee Dee  Bancorp,  Inc.,  annual  Meeting  held on October 12,
2005.

Herbert W. Watts has served as the President and Chief Executive  Officer of the
Company  since  its  formation  in 1997,  and has been  employed  by the Bank in
various  capacities  since 1973.  Mr. Watts was  President  and Chief  Executive
Officer of the Bank from 1981 until January  2003. He will continue  serving the
company and the bank as a board member.

Great Pee Dee Bancorp, Inc., has as its sole subsidiary,  Sentry Bank & Trust, a
$206  million  savings  bank which has served the Pee Dee area since  1935.  The
company's stock trades on the NASDAQ market under the symbol "PEDE".

   Herbert W. Watts
   President