Capitol Bancorp Center
200 Washington Sq. North
Lansing, MI 48933

2777 East Camelback Road
Suite 375
Phoenix, AZ 85016

Analyst Contact:
Michael M. Moran
Chief of Capital Markets
877-884-5662

Media Contact:
Joal Redmond
Corporate Communications
602-977-3797

Lansing, Michigan/Phoenix, Arizona: May 9, 2003: Capitol Bancorp Limited's chairman and CEO, Joseph D. Reid, announced that Capitol Bancorp has filed an application to trade its stock on the New York Stock Exchange beginning in late June. The announcement came during the company's 15th annual shareholders meeting in Lansing, Michigan on Thursday, May 8, 2003.

"We believe the move to the New York Stock Exchange will provide a better trading environment for our shareholders, particularly since we recently have taken steps to enhance the liquidity, float, and distribution of our shares," said Reid. "In addition, the rigorous selection criteria for membership in the NYSE aligns well with the operating principles of our company."

Capitol Bancorp, a bank development company, recently reported its 43rd consecutive cash dividend, and has total assets exceeding $2.5 billion.

"There is no better time than now to maximize this momentum and increase investors' awareness of, and access to, Capitol Bancorp stock. We have a unique and profitable business model and it is time to tell the Capitol story," Reid told meeting attendees.

Reid also said the company's performance validates that there is a solid niche for community banks throughout the country. "With increased awareness among investors, we will be in a stronger position to do what we do best ñfacilitate the opening of community banks that offer a full spectrum of personalized, financial services for consumers while becoming an integral part of the community," he added.

Capitol Bancorp has traded on the NASDAQ under the symbol CBCL since 1990. The company's stock will continue to trade on the NASDAQ until the formal move to the New York Stock Exchange, anticipated for late June. Reid also told shareholders that a new trading symbol will be announced shortly.

In other meeting business, shareholders elected the following people to serve as Capitol Bancorp board members through 2004:

Joseph D. Reid, Chairman
Michael L. Kasten, Vice Chairman
Lyle W. Miller, Vice Chairman
Robert C. Carr
David O' Leary
Louis G. Allen
Paul R. Ballard
David L. Becker
Douglas E. Crist
Michael J. Devine
Cristin Reid English
James C. Epolito
Gary A. Falkenberg, D.O.
Joel I. Ferguson
Kathleen A. Gaskin
H. Nicholas Genova
Michael F. Hannley
Lewis D. Johns
John S. Lewis
Humberto S. Lopez
Leonard Maas
Kathryn L. Munro
Myrl D. Nofziger
Ronald K. Sable

About Capitol Bancorp Limited
Capitol Bancorp Limited is one of the nation's largest community banking organizations, holding 29 individual charters for banking operations in eight states. Capitol Bancorp identifies opportunities for the development of new community banks, raises capital and mentors a community bank through its formative stages. Each community bank has full local decision-making authority and is managed by an on-site president under the direction of a local board of directors. Capitol Bancorp Limited was founded in 1988 and has headquarters in Lansing, Michigan and Phoenix, Arizona.