PRESS RELEASE
                              FOR IMMEDIATE RELEASE
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RESERVE BANCORP, INC.                                  CONTACT:RICHARD A. SINEWE
2000 MT. TROY ROAD                                             PRESIDENT
PITTSBURGH, PA 15212                                           (412) 322-6107

                            OTC BULLETIN BOARD "RSVB"


            Reserve Bancorp, Inc. Announces 5% Stock Repurchase Plan
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         Pittsburgh,  Pennsylvania  - November 5, 2003 - Reserve  Bancorp,  Inc.
(the  "Company"),  the holding company of Mt. Troy Bank (the "Bank"),  announced
today that the Board of Directors has approved a plan to repurchase up to 36,353
of the outstanding shares of the Company in open market purchases.  This buyback
represents up to 5% of the Company's  outstanding shares. Mr. Richard A. Sinewe,
President of the Company,  indicated the repurchase  plan is expected to improve
return on equity  and net  income  per  share  and  could  mitigate  some of the
potentially  dilutive  effects of the Company's stock option plan and would also
be available for general corporate  purposes.  The repurchases will be made from
time to time in open-market transactions, subject to the availability of shares.

         The  Company's  stock is traded  on the OTC  Bulletin  Board  under the
symbol "RSVB".

         The  Bank is a  federally  chartered  stock  savings  bank  located  in
Pittsburgh, Pennsylvania. At September 30, 2003, Reserve Bancorp, Inc. had total
assets and stockholders equity of $72.5 million and $12.6 million, respectively.

         For further information contact:
         Richard A. Sinewe, President