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| Coastal Bancorp, Inc. Announces a New Director |
HOUSTON, Feb. 3 /PRNewswire/ -- Coastal Bancorp, Inc. (Nasdaq: CBSA) ("Coastal") announced today that on January 28, 1999 the Board of Directors approved the election of Paul W. Hobby to the Board of Directors of Coastal Bancorp, Inc., effective February 1, 1999. "We are elated that Mr. Hobby agreed to join our board," said Manuel J. Mehos, Coastal's Chairman and CEO. "With Paul's Texas roots and his experience in business, he can help strengthen Coastal's position as a bank with strong ties to Texas and a thorough knowledge of what Texans need and want in a financial institution." Mr. Hobby is the Chairman and CEO of Hobby Media Services, Inc., an investment company focused on new as well as traditional media investments. He has an extensive background in all phases of the media industry including information technology products related to those fields. He is a licensed attorney and active in politics and the community. Coastal Bancorp, Inc., through its wholly-owned subsidiary, Coastal Banc Holding Company, Inc., owns 100 percent of the voting stock of Coastal Banc ssb, a Texas-chartered, state savings bank headquartered in Houston. Coastal Banc ssb operates 49 branch offices in metropolitan Houston, Austin, Corpus Christi, the Rio Grande Valley and small cities in the south east quadrant of Texas. "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: The statements contained in this release which are not historical facts contain forward looking information with respect to plans, projections or future performance of the Company, the occurrence of which involve certain risks and uncertainties detailed in the Company's filings with the Securities and Exchange Commission.SOURCE Coastal Bancorp, Inc.
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CONTACT:
Manuel J. Mehos, CEO, or Catherine N. Wylie,
CFO, both of Coastal Bancorp, Inc., 713-435-5327, or fax,
713-435-5106
