Reserve Bancorp, Inc.
                                  Mt. Troy Bank
                               2000 Mt. Troy Road
                            Pittsburgh, PA 15212-1399

                      OTC Electronic Bulletin Board "RSVB"


                                  Press Release



Contact:          Richard A. Sinewe
                  President
                  Reserve Bancorp, Inc.
                  (412) 322-6107


                              RESERVE BANCORP, INC.
                             ANNOUNCES CASH DIVIDEND

         Pittsburgh,  Pennsylvania  - November  26,  2002 -- Richard A.  Sinewe,
President of Reserve Bancorp,  Inc. (the "Company"),  the holding company of Mt.
Troy Bank (the "Bank"),  announced  today that the Company's  Board of Directors
has declared a semi-annual  cash dividend of $.05 per share to  stockholders  of
record as of December 15, 2002.

         Mr. Sinewe  indicated  that the cash dividend is being paid as a result
of  continued  profitability  of the  Company  and the Bank.  It is the  current
intention  of  the  Board  of  Directors  to  continue  to pay  such a  dividend
semi-annually.  However, the payments of future dividends will be subject to the
Board's  periodic  review of the  financial  condition,  earnings,  and  capital
requirements of the Company and the Bank.

         Mt.  Troy  Bank is a  federally  chartered  stock  savings  bank  which
conducts its business from its main office in Reserve Township, Pennsylvania and
a full-service branch office in the city of Pittsburgh, Pennsylvania. The Bank's
deposits  are insured up to the  maximum  legal  amount by the  Federal  Deposit
Insurance Corporation (FDIC). At June 30, 2002, the Company had total assets and
stockholders'  equity of $60.6  million  and $12.2  million,  respectively.  The
Company's  common  stock is traded on the OTC  Bulletin  Board  under the symbol
"RSVB."