EXTRACO TO CELEBRATE 100 YEAR HERITAGE

July 10, 2002 - WACO, TX: It was 1902, the start of a new century, the industrial revolution, and just a precursor of the technology era. Still, early technology was changing the way people conducted business.

On July 12, 1902, a company formed just down from the Brazos River called Exporters and Traders Compress & Warehouse Company. This organization would not only embrace the latest technology to begin their simple cotton warehousing business, but would also one day utilize their continued passion for "excellence in everything" to help them form the largest privately owned financial institution in Central Texas.

Today, Extraco Corporation (an acronym honoring the founding root of EXporters and TRAders COmpress) exceeds $710 million in assets, enjoys 70,000 customers in 21 locations, makes loans up to $10 million, services $1.7 million in mortgage loans in 48 states, participates in 275 volunteer community leadership roles, and most importantly employs 460 Central Texans.

The company now conducts business in 12 Central Texas communities and offers the following services: trust, insurance, brokerage, mortgage, technology solutions and a wide variety of traditional consumer and commercial banking services.

S. Boyce Brown, CEO and President of Extraco Corporation, represents the third generation of Browns to continue in the family business. Brown joined the family enterprise in 1992, bringing a vision to develop Extraco as a complete one-stop financial center. Vision became reality in 2002. Today Extraco's net worth is in excess of $70 million.

"People are still what make the difference at Extraco. Our people represent world-class talent. They can work anywhere, but they choose to be here, and be a strategic part of our team. That is the greatest compliment we could ever experience," said Brown.

Brown continued, "Our mission is to touch the lives of people with a premier financial solution. We have literally designed our business around the customers, instead of building a customer around the business."

Extraco Corporation celebrated 100 years and three generations of family management on July 12, 2002. Founded as a cotton warehousing company, Extraco has evolved to become the largest and most complex independent financial institution in Central Texas with a $10 million loan limit, over 75,000 customers, 275 volunteer community leadership roles and 525 employees. Extraco offers trust, insurance, brokerage, mortgage and technology solutions to complement its traditional bank product line.