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 and Phoenix, Arizona: June 24, 2003: Capitol Bancorp Limited Chairman and Chief Executive Officer Joseph D. Reid rang The Opening Bell SM today to celebrate the company's listing on the New York Stock Exchange (NYSE). Reid was joined on the bell podium by eight founding members from Capitol Bancorp Limited's board of directors.

Once the market opened, Reid initiated the first trade of Capitol Bancorp Limited's common stock under its new ticker symbol, CBC. Capitol Bancorp Limited's trustpreferred securities will also trade on the NYSE under ticker symbol CBCPrA.

"We began this company fifteen years ago on the belief that there will always be a place for a community bank that is locally managed and believes in being an integral part of the community in which it's located," said Reid. "Fifteen years and 29 banks later, we're still committed to those founding principles." Capitol Bancorp Limited has experienced steady growth and recently announced its 43rd consecutive quarterly cash dividend.

"We're proud that we have continually delivered shareholder value. Today's move to the Exchange should broaden our shareholder base and provide an optimal trading environment for our investors," added Reid.

About Capitol Bancorp Limited
Capitol Bancorp Limited is one of the nation's largest community banking organizations, with 29 individual charters for banking operations in eight states. Capitol Bancorp Limited 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 composed of business leaders from the bank's community. Capitol Bancorp Limited was founded in 1988 and has headquarters in Lansing, Michigan and Phoenix, Arizona.