FOR IMMEDIATE RELEASE
June 14, 2004


RESERVE BANCORP, INC.                           FOR FURTHER INFORMATION CONTACT:
2000 Mt. Troy Road                              Mr. Gerard R. Kunic
Pittsburgh, Pennsylvania 15212                  President
                                                (412) 322-6107


                              RESERVE BANCORP, INC.
                      Announces 5.00% Stock Repurchase Plan

         Pittsburgh,  Pennsylvania - June 14, 2004 - Reserve Bancorp,  Inc. (the
"Company")  announced  today that the Board of Directors  has approved a plan to
repurchase up to 34,535 of the outstanding  shares of the Company in open market
purchases.  This buyback  represents  up to 5.00% of the  Company's  outstanding
shares.  The  repurchases  will  be  made  from  time  to  time  in  open-market
transactions, subject to the availability of shares.

         The  Company  is the  holding  company  of Reserve  Bank,  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 McIntyre
Square shopping center in Ross Township,  Pennsylvania. At March 31, 2004, total
assets of the  Company  were $76.4  million and  stockholders'  equity was $12.6
million.  The Company's  common stock is traded on the OTC Bulletin  Board under
the symbol "RSVB."