June 30, 2003

Central Bancshares appoints UK Dean Richard Furst to Board of Directors

Lexington, KY -- The Board of Directors of Central Bancshares today elected Richard W. Furst as a member of the Boards of Central Bancshares and Central Bank & Trust Co. The announcement came from Chairman, President & CEO Luther Deaton, Jr. Noted Deaton, "We welcome Dean Furst to our Board and believe his business insight and experience will be invaluable to our growing financial family. "

Furst is a current Professor of Finance and Dean of the Gatton College of Business and Economics, University of Kentucky, a position he has held since 1981. He is stepping down as Dean, June 30. From 1969 to 1981 he was associated with the College of Business, University of South Carolina and from 1968 - 69 at University of Missouri-St. Louis.

He is a past member of the boards of Community Ventures, Inc., Economic Development Planning Commission, Commonwealth of Kentucky, Greater Lexington Chamber of Commerce and Host Communications, among others; he is a current board member of UK Business Partnership Foundation, Office Suites Plus, Foam Design, Inc., Seed Restaurant Group, Inc. and Armada Funds and Parkstone Funds.

Furst is a graduate of Alfred University and holds a Doctorate in Business Administration and a Masters in Business Administration from Washington University.

Central Bancshares, Inc. is the holding company for Central Bank & Trust Co., Central Bank, FSB, Salt Lick Deposit Bank, Central Bank Insurance Agency Inc. and Central Investment Center, Inc. The bank operates 19 full service banking centers, 25 ATMs and a mortgage origination office in Clark, Fayette, Jessamine, Scott and Bath counties.

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