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Fidelity Federal Continues Branch Office Expansion

                  Bank Opens Third Boca Raton Branch Office

    WEST PALM BEACH, Fla., July 16 /PRNewswire-FirstCall/ -- Fidelity Federal
Bank & Trust, the subsidiary of Fidelity Bankshares, Inc. (Nasdaq: FFFL), is
pleased to announce the opening of its Clint Moore at U.S. 441 branch office
in Boca Raton. This office is the Bank's forty-third branch office and the
third in the Boca Raton area.
    Rhonda Grant, Assistant Vice President, has been named as Branch Manager.
Ms. Grant recently joined Fidelity Federal with 22 years of banking experience
and was most recently with SunTrust Bank.
    The new office is 3,500 square feet, and includes three drive-thru lanes
and a 24-Hour Automatic Teller Machine. Full-service banking is available at
the Clint Moore at US 441 branch office, including safe deposit, business
services and lending.
    Lobby hours are 9:00 a.m. to 4:00 p.m. Monday through Thursday, 9:00 a.m.
to 6:00 p.m. on Friday and 9:00 a.m. to 1:00 p.m. on Saturday. Drive-thru
hours are 8:00 a.m. to 6:00 p.m. Monday through Friday and 9:00 a.m. to 1:00
p.m. on Saturday.
    This new office is the second in a series of nine offices Fidelity Federal
has been approved to open in the next three years by the Office of Thrift
Supervision, the Bank's regulatory agency. The first branch office was Lake
Ida at Jog in Delray Beach, and other branch offices to open in 2004 include
Frederick Small at Military Trail in Jupiter and Prima Vista in Port St.
Lucie. Four offices are scheduled to open in 2005, including two additional
offices in the Boca Raton area.

    Fidelity Bankshares, Inc., through its subsidiary Fidelity Federal Bank &
Trust, has assets of $3.4 billion and operates in Florida through 43 offices
in Palm Beach, Martin, Broward, Indian River and St. Lucie counties. The bank
offers traditional banking products as well as trust, investment and insurance
services, a full line of mortgage and commercial loans and business banking
services including loans and lines of credit. An investment profile on
Fidelity Bankshares may be found on the website
http://www.hawkassociates.com/fffl/profile.htm.

    For more information, contact Chairman and CEO Vince A. Elhilow or Chief
Financial Officer Richard D. Aldred at (561) 803-9900 or Frank Hawkins or
Julie Marshall, Hawk Associates, Inc. at (305) 852-2383. Email:
info@hawkassociates.com. Information about Fidelity Bankshares, Inc. can be
found on the website http://www.fidelityfederal.com. Copies of Fidelity
Bankshares press releases, SEC filings, current price quotes, stock charts and
other valuable information for investors may be found on the website:
http://www.hawkassociates.com.


SOURCE Fidelity Bankshares, Inc.




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Related links:
  • http://www.fidelityfederal.com
  • http://www.hawkassociates.com
  • http://www.hawkassociates.com/fffl/profile.htm
    Company News On-Call:
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    CONTACT:
    Vince A. Elhilow, Chairman and CEO, or
    Richard D. Aldred, Chief Financial Officer, +1-561-803-9900, both
    of Fidelity Bankshares, Inc.; or Frank Hawkins or Julie Marshall,
    both of Hawk Associates, Inc., +1-305-852-2383, or
    info@hawkassociates.com, for Fidelity Bankshares, Inc.