2007 Annual Meeting of Shareholders

Tuesday, May 8th 2007 - Albemarle, NC - Shareholders of Uwharrie Capital Corp learned about their company’s development and future plans during the Company’s recent Annual Meeting of Shareholders held at the Stanly County Agri-Civic Center.

Boy Scout Troop 82 and Girl Scout Troop 1081 presented the colors. Recognitions of teachers of the year from Anson, Cabarrus and Stanly counties were presented by Chairmen of the Subsidiary Banks’ Boards of Directors, Ken Huntley of Anson Bank & Trust, Alex Rankin of Cabarrus Bank & Trust, and Mark Mabry of Bank of Stanly. Honored were:

• Gail Litaker as Anson County’s Teacher of the Year
• Susan Deaton as Cabarrus County’s Teacher of the Year
• Lisa Chandler as Stanly County’s Teacher of the Year.

Additionally, the company honored an outstanding business honoree from Anson, Cabarrus and Stanly counties. Presidents and Chief Executive Officers Jim Strayhorn of Anson Bank & Trust, Pat Horton of Cabarrus Bank & Trust, and Bill Lawhon of Bank of Stanly presented awards to:

• Bill & Tim Boone of B & B Pest Control of Wadesboro
• Diane & Betty Honeycutt of Team Honeycutt / Allen Tate Realtors of Concord
• Wes & Missy Morgan of Rolling Hills Gin of New London

During the business meeting, shareholders approved two proposals of business including the election of directors and ratification of appointment of Dixon Hughes PLC as the independent registered public accounting firm.

Elected to the Uwharrie Capital Corp Board of Directors for 3-year terms were Henry Farmer, Sr. of Albemarle; Tom Hearne, Jr. of Albemarle; Chuck Horne of Wadesboro; Tim Propst of Concord; Don Scarborough of Wadesboro; and John (Rusty) Shealy of Concord.

At a brief meeting of the Uwharrie Capital Corp Board of Directors following the Annual Meeting, Mike Snyder was elected Chairman of the Board, and John Murray was elected Vice Chairman for 2007 – 2008.

Uwharrie Capital Corp, located in Albemarle, NC, is a $411 million multi-bank holding company and the parent of Anson Bank & Trust, Bank of Stanly, Cabarrus Bank & Trust, Strategic Investment Group and Strategic Investment Advisors.

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