Exhibit 99
                                  PRESS RELEASE

Columbia, S.C., May 2, 2005 - Carolina National Corporation, holding company for
Carolina National Bank and Trust Company, today reported results for the three
months ending March 31, 2005.

Total assets were $117 million at March 31, 2005, an increase of $19 million, or
19%, from the preceding  quarter.  Net loans were $103 million and deposits $104
million at the end of the  quarter.  Consumer  loans were 31% of total loans and
69% were  commercial  loans.  Demand  deposits  were 21% of  deposits,  23% were
savings or money market deposits,  38% were certificates of deposit and 18% were
brokered certificates of deposit

The Company reported its second profitable  quarter since it began operations on
July 15,  2002.  Net income for the 1st  quarter was $42  thousand,  or $.03 per
share,  compared to a net loss of $207 thousand, or $.14 per share, for the same
period last year.

Roger  B.  Whaley,  President  of the  Company,  said "We are  pleased  with our
continuing growth and profitability. The efforts of our talented team of banking
professionals are readily visible in the 67% increase in loan accounts and a 60%
increase in deposit  accounts in fifteen  months from December 31, 2003 to March
31, 2005."

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