205 DATURA STREET
                                                      WEST PALM BEACH, FL 33401
                                                      (561) 803-9900


Fidelity  Bankshares  to Present  at the  Sandler  O'Neill & Partners  Financial
Services Conference

West Palm Beach,  FL, November 10, 2005 -- Fidelity  Bankshares,  Inc.  (Nasdaq:
FFFL),  the holding company for Fidelity  Federal Bank & Trust,  announced today
that CEO Vince  Elhilow  and CFO  Richard  Aldred  will  present at the  Sandler
O'Neill & Partners Financial Services  Conference in Naples,  Fla., on Thursday,
Nov. 17 at 8:55 a.m.

The  conference  will  be  webcast  live  at  http://www.sandleroneill.com.   In
addition,  the company's  presentation will be available via audio conference by
dialing (617) 213-8860.

An   investment    profile   on   Fidelity    Bankshares   may   be   found   on
http://www.hawkassociates.com/fffl/profile.htm.

At Sept. 30, 2005,  Fidelity  Bankshares,  Inc., through its subsidiary Fidelity
Federal Bank & Trust,  had assets of $3.94 billion and deposits of $3.32 billion
and operates in Florida  through 48 offices in Palm Beach,  Martin and St. Lucie
counties.

For  more  information,  contact  Chairman  and CEO  Vince A.  Elhilow  or Chief
Financial Officer Richard D. Aldred at (561) 803-9900, or Frank Hawkins or Julie
Marshall,    Hawk    Associates,    Inc.,    at    (305)    451-1888,    e-mail:
info@hawkassociates.com.  Information  about  Fidelity  Bankshares,  Inc. can be
found on  http://www.fidelityfederal.com.  Copies of Fidelity  Bankshares  press
releases,  SEC filings,  current price quotes,  stock charts and other  valuable
information for investors may be found on http://www.hawkassociates.com.

Forward-Looking Statements: When used in this report, the words or phrases "will
likely   result,"  "are  expected  to,"  "will   continue,"  "is   anticipated,"
"estimate,"   "project"  or  similar   expressions   are  intended  to  identify
"forward-looking  statements"  within  the  meaning  of the  Private  Securities
Litigation  Reform Act of 1995. Such statements are subject to certain risks and
uncertainties,  including, among other things, changes in economic conditions in
the  company's  market  area,  changes  in  policies  by  regulatory   agencies,
fluctuations  in interest rates,  demand for loans in the company's  market area
and  competition  that could  cause  actual  results to differ  materially  from
historical  earnings and those presently  anticipated or projected.  The company
wishes  to  caution   readers   not  to  place   undue   reliance  on  any  such
forward-looking  statements,  which speak only as of the date made.  The company
wishes  to advise  readers  that the  factors  listed  above  could  affect  the
company's financial performance and could cause the company's actual results for
future periods to differ  materially  from any opinions or statements  expressed
with respect to future periods in any current statements.