Philip Guarnieri
President and Chief Operating Officer
ES Bancshares, Inc.
(845) 451-7801

February 5, 2008

For Immediate Release
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         ES BANCSHARES, INC. ANNOUCES THAT ITS WHOLLY OWNED SUBSIDIARY,
         EMPIRE STATE BANK, N.A. FILED AN APPLICATION TO CONVERT FROM A
              NATIONAL BANK TO A NEW YORK COMMERCIAL BANK CHARTER

     Philip  Guarnieri,   the  President  and  Chief  Operating  Officer  of  ES
Bancshares,  Inc. (the "Company"), the holding company of Empire State Bank (the
"Bank"),  announced today that the Bank filed an Application for Conversion to a
State Bank with the New York State  Banking  Department  and  intends to file an
application to become a member of the Federal Reserve Bank of New York. If these
applications are approved,  the New York State Banking  Department will serve as
the Bank's primary state  regulator and the Federal  Reserve Board,  rather than
the Office of the Comptroller of the Currency,  will serve as the Bank's primary
federal regulator.

     Mr.  Guarnieri  commented,  "Quite simply,  we feel more comfortable with a
local charter."