2006 Annual Meeting of Shareholders

Wednesday, May 2nd 2006 - Albemarle, NC - Shareholders of Uwharrie Capital Corp learned about their company’s development and future plans during the 2006 Annual Meeting of Shareholders. Over 800 people attended the meeting held at the Stanly County Agri-Civic Center.

During the 4:00 p.m. legal meeting, shareholders approved four proposals of business including the election of seven directors to serve three-year terms, the 2006 Incentive Stock Option Plan, the 2006 Employee Stock Option Plan, and the ratification of appointment of Dixon Hughes PLLC as the 2006 independent accounts.

Elected to the Uwharrie Capital Corp Board of Directors were Joe Kluttz, Jr., President of Albemarle Insurance Agency, Inc.; Jim Nance, President and Dealer Operator of Confederate Motors, Inc. of Albemarle; Emmett Patterson, Retired General Manager and Executive Vice President of Pee Dee Electric Membership Corporation of Wadesboro; Mike Snyder, Sr., Vice President of E.J. Snyder & Co., Inc. of Albemarle; Doug Stafford, Principal of Griffin Stafford, LLC of Concord; Emily Thomas, Vice President of Administration and Finance of CMH Flooring Products, Inc. of Wadesboro; and Tad Geschickter, President of ST Motorsports, Inc. and Wood Brothers/JTG Racing, Inc. of Harrisburg.

A buffet dinner and time of fellowship was followed by a Community Meeting, celebrating a spirit of community and presenting special recognition to individuals making a difference in the lives of others. Boy Scout Troop 82 and Girl Scout Troop 2142 presented the colors, and the Arts Experience Children’s Choir and Youth Oratorio of Cabarrus County provided entertainment.

Recognitions of teachers of the year from Anson, Cabarrus, and Stanly Counties were presented by Chairmen of the Boards of Directors of Uwharrie Capital Corp’s subsidiary banks. Additionally, each bank honored an outstanding business honoree from their county

Anson Bank & Trust Honors Teacher of the Year
and Outstanding Business

Luke Hyatt & Jim Strayhorn(CEO) Peachland-Polkton Elementary School	Jim Strayhorn(CEO) & Jay Wright Cornerstone Appraisal Group

Bank of Stanly Honors Teacher of the Year
and Outstanding Business

Mark Mabry(Chair) & Anne Watson Richfield Elementary School	Bob Russell, Bill Lawhon(CEO) & J.T. Russell J.T. Russell & Sons, Inc

Cabarrus Bank & Trust Honors Teacher of the Year
and Outstanding Business

Alex Rankin(Chair) & Chasity Dolan Weddington Hills Elementary School	Pat Horton(CEO) & Dale Bullock M.A.I.L.E.D., Inc.

At a brief meeting of Uwharrie Capital Corp Board of Directors following the Annual Meeting, Mike Snyder was elected Chairman of the Board and Jim Nance was elected Vice Chairman for 2006-2007.

Lindsey Smith Receives Great Honors Monday, March 27th 2006 - Albemarle, NC - Uwharrie Capital Corp's very own Lindsey Smith received a prestigious honor as she was named as a recipient of the Teaching Fellows Scholarship ...