FOR IMMEDIATE RELEASE:
- ----------------------


                   HERB HORNSBY TO STEP DOWN AS PRESIDENT AND
               CHIEF EXECUTIVE OFFICER OF CAPE BANCORP, INC. AND
                                    CAPE BANK


     (Cape May Courthouse,  NJ, January 27, 2009) - Cape Bancorp,  Inc. (NASDAQ:
"CBNJ"),  the parent of Cape Bank,  announced today that Herbert L. Hornsby, Jr.
will step down as President and Chief  Executive  Officer of the Company and the
Bank, effective  immediately.  Hornsby will be succeeded by Michael D. Devlin as
President and Chief Executive Officer of Bancorp and the Bank.

     Devlin  has  served as the Chief  Operating  Officer  of the Bank since the
merger of Boardwalk  Bank into Cape Bank in January  2008.  Bancorp and the Bank
also  announced  that  Robert  J.  Boyer has been  promoted  to  Executive  Vice
President and Chief Operating Officer,  and that Guy Hackney, who was previously
Senior Vice  President of  Accounting  and Finance,  will succeed Boyer as Chief
Financial Officer of the Company and the Bank.

     Hornsby  oversaw the transition of Cape Savings Bank from a mutual to stock
organization and the simultaneous acquisition of Boardwalk Bank in January 2008.
The acquisition  created the largest bank headquartered in Cape May and Atlantic
counties,  which today  includes 18 branches and  approximately  $1.1 billion in
assets.

     For further information contact Michael D. Devlin, CEO or Guy Hackney, CFO,
Cape Bancorp: (609) 465-5600.


This  press  release  discusses  primarily  historical  information.  Statements
included in this  release,  to the extent they are  forward  looking,  involve a
number  of  risks  and  uncertainties  such  as  competitive  factors,  economic
conditions and regulatory changes in the banking industry.  Further  information
on factors that could affect Cape  Bancorp's  financial  results can be found in
the Cape  Bancorp's  Form 10-K for the year ended  December 31, 2007,  which was
filed by Cape Bancorp with the Securities  and Exchange  Commission on March 31,
2008.