EXHIBIT 99.1

      RAMPART CAPITAL CORPORATION     INCREASES CASH OUT PRICE FOR PREVIOUSLY
   ANNOUNCED TRANSACTION TO TAKE THE COMPANY PRIVATE AND SETS NEW ANNUAL MEETING
                                 AND RECORD DATE

Houston, Texas, September 16, 2003 -- Rampart Capital Corporation ("Rampart" or
the "Company") (AMEX: RAC) announced today that its board of directors approved
a modified reverse stock split proposal as the initial step to take the company
private. Under the modified proposal and subject to shareholder approval, the
Company would effect a 1-for-100,000 reverse stock split with shareholders
holding less than one share after the split being entitled to receive $3.50 per
pre-split share in lieu of receiving a fractional share. This represents an
increase of $0.25 per share from the previously announced reverse split
transaction. Similar to the originally announced proposal, if the modified
reverse split proposal is consummated, Rampart plans to make application to have
its common stock ("Common Stock") delisted from the American Stock Exchange
("AMEX") and terminate registration of the Common Stock under the Securities
Exchange Act of 1934.

On June 10, 2003, the Company previously announced that its board of directors
approved alternative reverse split ratios of 1-for-45,000, 1-for-75,000 and
1-for-100,000. Rampart common shareholders holding less than one share after the
split were to receive $3.25 per pre-split share in lieu of receiving a
fractional share.

The increase in the cash price from $3.25 to $3.50 per pre-split share resulted
from negotiations between the reverse split sponsors, Charles W. Janke (the
Company's Chief Executive Officer, a director and largest shareholder) and J.H.
Carpenter (the Company's Chief Operating Officer, a director, and second largest
shareholder) and the special committee of the Company's board of directors
established to represent the interest of the Company's minority shareholders in
the reverse split transaction. Messrs. Janke and Carpenter are expected to be
the only shareholders remaining if the reverse split is consummated. The
negotiations focused on the July 1, 2003 foreclosure by a wholly-owned affiliate
of Rampart of approximately 96 acres of unimproved real estate located in
Galveston, Texas that secured indebtedness in favor of the affiliate. As
previously reported, Rampart (through its affiliate) was the lone and successful
bidder at the foreclosure sale based upon a bid of approximately $4.1 million
representing the outstanding debt, delinquent property taxes, legal and
foreclosure costs and expenses. As a result of the foreclosure and as previously
reported, the Company's special committee of the board of directors informed the
full board of directors that it wanted to evaluate the effects, if any, of the
Galveston foreclosure on the terms of the previously announced reverse split.

The Company's board of directors approved the modified reverse split and related
transactions based in part upon the unanimous recommendation of the special
committee of the board of directors, as well as the supplemental opinion of the
special committee's independent financial advisor that the $3.50 per pre-split
share cash price being paid to the minority common shareholders is fair from a
financial point of view.



Due to the delay caused by the negotiations involving the modified reverse
split, the Company's board of directors approved a new annual meeting date of
Wednesday, November 5, 2003 at which the reverse split proposal will be
presented and has set a new record date of October 6, 2003 for purposes of
determining the common shareholders entitled to vote at the annual meeting.

IMPORTANT LEGAL INFORMATION: INVESTORS AND COMMON SHAREHOLDERS ARE URGED TO READ
THE PROXY STATEMENT REGARDING THE PROPOSED TRANSACTION WHEN IT BECOMES AVAILABLE
BECAUSE IT WILL CONTAIN IMPORTANT INFORMATION. THE PROXY STATEMENT WILL BE FILED
WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION BY RAMPART. INVESTORS AND
COMMON SHAREHOLDERS MAY OBTAIN A FREE COPY OF THE PROXY STATEMENT WHEN IT
BECOMES AVAILABLE, AND OTHER DOCUMENTS FILED WITH THE SEC BY RAMPART, AT THE
SEC'S WEBSITE AT WWW.SEC.GOV. THE PROXY STATEMENT, AND OTHER DOCUMENTS FILED BY
RAMPART, MAY ALSO BE OBTAINED FREE BY DIRECTING A REQUEST TO RAMPART CAPITAL
CORPORATION AT 16401 COUNTRY CLUB DRIVE, CROSBY, TEXAS 77532, TELEPHONE NUMBER
(713) 223-4610. INVESTORS AND COMMON SHAREHOLDERS MAY OBTAIN A DETAILED LIST OF
NAMES, AFFILIATIONS AND INTERESTS OF PARTICIPANTS IN THE SOLICITATION OF PROXIES
OF RAMPART AT THE ADDRESS SET FORTH IN THE IMMEDIATELY PRECEDING SENTENCE.

CONTACT:  RAMPART CAPITAL CORPORATION
          Chuck Janke, Jim Carpenter, Charles Presley & Eileen Fashoro at
          713/223-4610



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