Exhibit 99.1

 Temecula Valley Bancorp Inc. Announces It Will Seek Shareholder Approval of a
           Two-for-One Stock Split and Reincorporation in California

    TEMECULA, Calif.--(BUSINESS WIRE)--Oct. 31, 2003--Temecula Valley
Bancorp Inc. (OTCBB: TMCV), reported that the board of directors has
approved and will request its shareholders to approve a two-for-one
stock split of its common stock and the reincorporation of Temecula
Valley Bancorp Inc., changing its state of incorporation from Delaware
to California. Shareholder approval is required before the
reincorporation and the stock split can be implemented. It is
anticipated that in mid-December 2003, the shareholders will be asked
to approve these events.
    If these actions are approved, there will be no change in the
location of company operations, location of employees, or in the way
the company does business. The result of the reincorporation will be
to change the company's state of legal incorporation for tax purposes.
After approvals and implementation, the company's common stock will
continue to trade in the over-the counter market under the symbol
TMCV.OB.
    The reincorporation will be accomplished through the merger of the
company with and into a newly formed and wholly-owned California
subsidiary, and in conjunction therewith, the stock split will be
affected. Shareholders holding a majority of the common stock will be
asked to approve the reincorporation and the concurrent stock split at
the December meeting. The Company plans to send a proxy statement to
its shareholders in the near future and, subject to obtaining the
necessary approvals, expects the transaction to be effective before
year-end.
    Temecula Valley Bank was established in 1996 and operates full
service offices in Temecula, Murrieta, Fallbrook, Escondido and El
Cajon. Temecula Valley Bancorp was established in June 2002 and
operates as a one-bank holding company for Temecula Valley Bank. As a
Preferred Lender (PLP) since 1998, the locally owned and operated bank
also has SBA loan production offices in Sherman Oaks, Calif., Fresno,
Calif., Chico, Calif., Anaheim Hills, Calif., Bellevue, Wash., Gurnee,
Ill., Tampa/St. Petersburg, Fla., Coral Springs, Fla., Jacksonville,
Fla. and Atlanta. The Bancorp's common stock is traded over the
counter with the stock symbol TMCV.OB and the banks' Internet Web site
can be reached at www.temvalbank.com.


    CONTACT: Temecula Valley Bank, Temecula
             Stephen H. Wacknitz, 909-694-9940