Common use of Make no election Clause in Contracts

Make no election. If you do not want to make a cash election or you want to receive Bankshares common stock in exchange for your shares of Community Bank common stock, you should not complete and return the Election Form and Letter of Transmittal and you will automatically be deemed to have made a "non-election" as described above. You will be mailed another Letter of Transmittal and instructions promptly after consummation of the merger. You are not guaranteed to receive your election choice. Bankshares will pay cash for 40% of the outstanding shares of Community Bank common stock and issue shares of Bankshares common stock for 60% of the outstanding shares of Community Bank common stock. If the aggregate number of shares of Community Bank common stock for which an election to receive cash is made is higher than 40% of the outstanding shares of Community Bank common stock, a pro rata portion of those shares will be converted into the right to receive Bankshares common stock in order to provide the 40% cash/60% stock allocation. If the aggregate number of shares of Community Bank common stock for which an election to receive cash is made is lower than 40% of the outstanding shares of Community Bank common stock, a pro rata portion of the non-electing shares will be converted into the right to receive cash in order to provide the 40% cash/60% stock allocation. Because of this proration, you cannot be certain of receiving the form of consideration that you desire with respect to all of your shares of Community Bank common stock. For more information about the election procedures and proration of shares, please refer to the Merger Agreement and the proxy statement/prospectus. If you elect to exchange any of your shares of Community Bank common stock for cash, your stock certificates representing the shares for which you are electing to receive cash must be returned with the completed and executed Election Form and Letter of Transmittal. Do NOT complete the Election Form and Letter of Transmittal if you hold your shares in unregistered form. If you want to make a cash election but hold shares in unregistered form or "street name", please contact your broker, bank or other nominee for more information and instructions on how to make an election. These shares may be eligible for book-entry transfer from your broker, bank or other nominee to the account of the exchange agent. If you are mailing your stock certificates, we recommend that you make copies of your stock certificates and completed Election Form and Letter of Transmittal. We also recommend sending the items by registered mail, return receipt requested, and insured for at least 2.0% of the market value ($20 minimum). This is the amount that it commonly costs to replace a lost certificate. Please do not return any documents to Community Bank or Bankshares.

Make no election. If you do not want to make a cash election or you want to receive Bankshares common stock in exchange for your shares of Community Bank Xxxxx Xxxxxx common stock, you should not complete and return the Election Form and Letter of Transmittal and you will automatically be deemed to have made a "non-election" as described above". Non-elections are subject to the proration provisions of the Merger Agreement. You will be mailed another Letter of Transmittal and instructions promptly after consummation of the merger. 1. You are not guaranteed to receive your election choice. Bankshares will pay cash The Instructions for 40% of Completing the outstanding shares of Community Bank common stock and issue shares of Bankshares common stock for 60% of the outstanding shares of Community Bank common stock. If the aggregate number of shares of Community Bank common stock for which an election to receive cash is made is higher than 40% of the outstanding shares of Community Bank common stock, a pro rata portion of those shares will be converted into the right to receive Bankshares common stock in order to provide the 40% cash/60% stock allocation. If the aggregate number of shares of Community Bank common stock for which an election to receive cash is made is lower than 40% of the outstanding shares of Community Bank common stock, a pro rata portion of the non-electing shares will be converted into the right to receive cash in order to provide the 40% cash/60% stock allocation. Because of this proration, you cannot be certain of receiving the form of consideration that you desire with respect to all of your shares of Community Bank common stock. For more information about the election procedures and proration of shares, please refer to the Merger Agreement and the proxy statement/prospectus. If you elect to exchange any of your shares of Community Bank common stock for cash, your stock certificates representing the shares for which you are electing to receive cash must be returned with the completed and executed Election Form and Letter of Transmittal. 2. Do NOT complete the Election Form and Letter of Transmittal if you hold your shares in unregistered form. If you want to make a cash election but hold shares in unregistered form or "street name", please contact your broker, bank or other nominee for more information and instructions on how to make an election. These shares may be eligible for book-entry transfer from your broker, bank or other nominee to the account of the exchange agent. If you are mailing your stock certificates, we recommend that you make copies of your stock certificates and completed The Election Form and Letter of Transmittal, which enables you to make your election to receive cash, attach your stock certificates, complete the Substitute Form W-9 to certify your Taxpayer Identification/Social Security Number and include any information required for special payment, special delivery or signature guarantee. 3. We also recommend sending The Substitute Form W-9 Guidelines. 4. A return envelope for mailing the completed items by registered mailto the exchange agent, return receipt requested, and insured for at least 2.0% of the market value ($20 minimum)American Stock Transfer & Trust Company. This communication is not a solicitation of a proxy from any Xxxxx Xxxxxx shareholder. Bankshares has filed with the amount Securities and Exchange Commission (the "SEC") a registration statement on Form S-4 and Xxxxx Xxxxxx has filed with the SEC a proxy statement, each of which contains the proxy statement/prospectus that it commonly costs was mailed to replace a lost certificateXxxxx Xxxxxx shareholders on or about[ • ], 2006. Please do not return any Bankshares and Xxxxx Xxxxxx may file other relevant documents to Community Bank concerning the merger with the SEC. SHAREHOLDERS OF XXXXX XXXXXX ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE MERGER, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER. Shareholders may obtain documents filed with the SEC free of charge at the SEC's website, xxx.xxx.xxx. Documents filed with the SEC by Bankshares may also be obtained without charge from Bankshares on the Internet at xxx.xxxxxxxxxx.xxx, under the "Investor Relations" section, or Banksharesby contacting Mercantile Bankshares Corporation, Attn: Xxxx Xxxxxx at Two Xxxxxxx Plaza, Baltimore, Maryland 21201 or by telephone at (000) 000-0000. Documents filed with the SEC by Xxxxx Xxxxxx may be obtained without charge from Xxxxx Xxxxxx on the Internet at xxx.xxxxxxxxxxxxxxx.xxx, under the "Investor Relations" section, or by contacting Xxxxx Xxxxxx, Attn: Xxxxxxx Xxxxxxx at 0000 Xxxxxx Xxxxxxxxx, Arlington, VA 22201 or by telephone at (000) 000-0000.

Make no election. If you do not want to make a cash election or you want to receive Bankshares common stock in exchange for your shares of Community Bank common stock, you should not complete and return the Election Form and Letter of Transmittal and you will automatically be deemed to have made a "non-election" as described above". You will be mailed another Letter of Transmittal and instructions promptly after consummation of the merger. You The documents necessary to complete an election are not guaranteed attached hereto and include: 1. The Instructions for Completing the Election Form and Letter of Transmittal; 2. The Election Form and Letter of Transmittal, which enables you to receive make your election choice. Bankshares will pay cash for 40% of the outstanding shares of Community Bank common stock and issue shares of Bankshares common stock for 60% of the outstanding shares of Community Bank common stock. If the aggregate number of shares of Community Bank common stock for which an election to receive cash is made is higher than 40% cash, attach your stock certificates, complete the Substitute Form W-9 to certify your Taxpayer Identification/Social Security Number and include any information required for special payment, special delivery or signature guarantee; 3. The Substitute Form W-9 Guidelines; and 4. A return envelope for mailing the completed items to the exchange agent, American Stock Transfer & Trust Company. 2 INSTRUCTIONS FOR COMPLETING THE ELECTION FORM AND LETTER OF TRANSMITTAL These instructions are for the accompanying Election Form and Letter of Transmittal for the outstanding shares shareholders of Community Bank common stock, a pro rata portion Bank. You should complete the Election Form and Letter of those shares will be converted into Transmittal and return the right to receive Bankshares common stock in order to provide the 40% cash/60% stock allocation. If the aggregate number of shares of Community Bank common stock certificates for which an you have made a cash election ONLY if you hold shares in registered form and want to receive cash is made is lower than 40% of the outstanding shares of Community Bank common stock, a pro rata portion of the non-electing shares will be converted into the right elect to receive cash in order to provide the 40% cash/60% stock allocation. Because of this proration, you cannot be certain of receiving the form of consideration that you desire with respect to exchange for some or all of your shares of Community Bank common stock. For more information about the election procedures and proration of shares, please refer to the Merger Agreement and the proxy statement/prospectus. If you do not want to elect to exchange any receive cash for some or all of your shares of Community Bank common stock for cashstock, your stock certificates representing do NOT complete the shares for which you are electing to receive cash must be returned with the completed and executed Election Form and Letter of TransmittalTransmittal and do NOT return your stock certificates. Do NOT complete the Election Form and Letter of Transmittal if you hold your shares in unregistered form. If you want to make a cash election but hold shares in unregistered form or "street name", please contact your broker, bank or other nominee for more information and instructions on how to make an election. These shares may be eligible for bookYou are not guaranteed to receive only cash if you make a cash election. All elections and non-entry transfer from your broker, bank or other nominee elections are subject to the account terms of the Merger Agreement provided to shareholders as part of the proxy statement/prospectus, dated [ • ], 2005. The Merger Agreement provides that the form of merger consideration actually received by you may differ from the form of consideration that you elect to receive because of the proration provisions contained in the Merger Agreement. Please refer to the instructions below and the proxy statement/prospectus for more information about proration. The Election Deadline is 5:00 p.m., EST on [ • ], 2005. If the exchange agent. If you are mailing your stock certificates, we recommend that you make copies of your stock certificates and completed American Stock Transfer & Trust Company, does not receive a valid Election Form and Letter of Transmittal. We also recommend sending Transmittal at its designated office by the items by registered mailElection Deadline, return receipt requestedyou will be deemed to have made a "non-election" and your shares of Community Bank common stock will be converted into the right to receive shares of Bankshares common stock, and insured for at least 2.0% subject to the proration provisions of the market value ($20 minimum). This is the amount that it commonly costs to replace a lost certificate. Please do not return any documents to Community Bank or BanksharesMerger Agreement.

Make no election. If you do not want to make a cash election or you want to receive Bankshares Bancorp common stock in exchange for your shares of Community Bank CNB common stock, subject to proration, you should not complete and return the Election Form and Letter of Transmittal and you will automatically be deemed to have made a "“non-election" ” as described above. You will be mailed another Letter of Transmittal and instructions promptly after consummation of the merger. You are not guaranteed to receive your election choice. Bankshares Bancorp will pay cash for at least 40%, but no more than 50% of the outstanding shares of Community Bank CNB common stock and issue shares of Bankshares Bancorp common stock for at least 50% but no more than 60% of the outstanding shares of Community Bank CNB common stock. If the aggregate number of shares of Community Bank CNB common stock for which an election to receive cash is made is higher than 4050% of the outstanding shares of Community Bank CNB common stock, a pro rata portion of those shares will be converted into the right to receive Bankshares Bancorp common stock in order to provide the 4050% cash/60cash/50% stock allocation. If the aggregate number of shares of Community Bank CNB common stock for which an election to receive cash is made is lower than 40% of the outstanding shares of Community Bank CNB common stock, a pro rata portion of the non-electing shares will be converted into the right to receive cash in order to provide the 40% cash/60% stock allocation. Any shares of CNB common stock with respect to which proper demand for appraisal has been made under the Maryland General Corporation Law will be treated as shares for which an election to receive each has been made for purposes of proration. Because of this proration, you cannot be certain of receiving the form of consideration that you desire with respect to all of your shares of Community Bank CNB common stock. For more information about the election procedures and proration of shares, please refer to the Merger Agreement and the proxy statement/prospectus. If you elect to exchange any of your shares of Community Bank CNB common stock for cash, your stock certificates (or the enclosed Notice of Guaranteed Delivery) representing the shares for which you are electing to receive cash must be returned with the completed and executed Election Form and Letter of Transmittal. Do NOT complete the Election Form and Letter of Transmittal if you hold your shares in unregistered form. If you want to make a cash election but hold shares in unregistered form or "street name", please contact your broker, bank or other nominee for more information and instructions on how to make an election. These shares may be eligible for book-entry transfer from your broker, bank or other nominee to the account of the exchange agent. If you are mailing your stock certificates, we recommend that you make copies of your stock certificates and completed Election Form and Letter of Transmittal. We also recommend sending the items by registered mail, return receipt requested, and insured for at least 2.0% of the market value ($20 minimum). This is the amount that it commonly costs to replace a lost certificate. Please do not return any documents to Community Bank CNB or BanksharesBancorp.

Make no election. If you do not want to make a cash an election or of the form of merger consideration you want to receive Bankshares common stock in exchange for your shares of Community Bank Potomac common stock, you should not complete and return the Election Form and Letter of Transmittal and you will automatically be deemed to have made a "“non-election" as described above”. Non-elections are subject to the proration provisions of the Merger Agreement. You will be mailed another Letter of Transmittal and instructions promptly after consummation of the merger. Back to Contents These instructions are for the accompanying Election Form and Letter of Transmittal for the shareholders of Potomac. You are not guaranteed to receive your election choice. Bankshares will pay cash for 40% should complete the Election Form and Letter of Transmittal and return the outstanding shares of Community Bank common stock and issue shares of Bankshares common stock for 60% of the outstanding shares of Community Bank common stock. If the aggregate number of shares of Community Bank common stock certificates for which you have made an election ONLY if you hold shares in registered form and want to receive cash is made is higher than 40% of the outstanding shares of Community Bank common stock, a pro rata portion of those shares will be converted into the right to receive Bankshares common stock in order to provide the 40% cash/60% stock allocation. If the aggregate number of shares of Community Bank common stock for which an election to receive cash is made is lower than 40% of the outstanding shares of Community Bank common stock, a pro rata portion of the non-electing shares will be converted into the right to receive cash in order to provide the 40% cash/60% stock allocation. Because of this proration, you cannot be certain of receiving elect the form of merger consideration that you desire with respect to will receive in exchange for some or all of your shares of Community Bank Potomac common stock. For more information about the election procedures and proration of shares, please refer to the Merger Agreement and the proxy statement/prospectus. If you elect do not want to exchange any make an election for some or all of your shares of Community Bank Potomac common stock for cashstock, your stock certificates representing do NOT complete the shares for which you are electing to receive cash must be returned with the completed and executed Election Form and Letter of TransmittalTransmittal and do NOT return your stock certificates. Do NOT complete the Election Form and Letter of Transmittal if you hold your shares in unregistered form. If you want to make a cash election but hold shares in unregistered form or "“street name"”, please contact your broker, bank or other nominee for more information and instructions on how to make an election. These shares may be eligible for bookYou are not guaranteed to receive only the form of merger consideration that you elect if you make an election. All elections and non-entry transfer from your broker, bank or other nominee elections are subject to the account terms of the Merger Agreement provided to shareholders as part of the proxy statement/prospectus, dated December 26, 2006. The Merger Agreement provides that the form of merger consideration actually received by you may differ from the form of consideration that you elect to receive because of the proration provisions contained in the Merger Agreement. Please refer to the instructions below and the proxy statement/prospectus for more information about, proration. The Election Deadline is 5:00 p.m., EDT on February 1, 2007. If the exchange agent. If you are mailing your stock certificates, we recommend that you make copies of your stock certificates and completed American Stock Transfer & Trust Company, does not receive a valid Election Form and Letter of Transmittal. We also recommend sending Transmittal at its designated office by the items by registered mailElection Deadline, return receipt requestedyou will be deemed to have made a “non-election” and your shares of Potomac common stock will be converted into cash and/or the right to receive shares of Bancorp common stock, and insured for at least 2.0% subject to the proration provisions of the market value ($20 minimum). This is the amount that it commonly costs to replace a lost certificate. Please do not return any documents to Community Bank or BanksharesMerger Agreement.

Make no election. If you do not want to make a cash election or you want to receive Bankshares common stock in exchange for your shares of Community Bank common stock, you should not complete and return the Election Form and Letter of Transmittal and you will automatically be deemed to have made a "non-election" as described above". You will be mailed another Letter of Transmittal and instructions promptly after consummation of the merger. You The documents necessary to complete an election are not guaranteed attached hereto and include: 1. The Instructions for Completing the Election Form and Letter of Transmittal; 2. The Election Form and Letter of Transmittal, which enables you to receive make your election choice. Bankshares will pay cash for 40% of the outstanding shares of Community Bank common stock and issue shares of Bankshares common stock for 60% of the outstanding shares of Community Bank common stock. If the aggregate number of shares of Community Bank common stock for which an election to receive cash is made is higher than 40% cash, attach your stock certificates, complete the Substitute Form W-9 to certify your Taxpayer Identification/Social Security Number and include any information required for special payment, special delivery or signature guarantee; 3. The Substitute Form W-9 Guidelines; and 4. A return envelope for mailing the completed items to the exchange agent, American Stock Transfer & Trust Company. 2 INSTRUCTIONS FOR COMPLETING THE ELECTION FORM AND LETTER OF TRANSMITTAL These instructions are for the accompanying Election Form and Letter of Transmittal for the outstanding shares shareholders of Community Bank common stock, a pro rata portion Bank. You should complete the Election Form and Letter of those shares will be converted into Transmittal and return the right to receive Bankshares common stock in order to provide the 40% cash/60% stock allocation. If the aggregate number of shares of Community Bank common stock certificates for which an you have made a cash election ONLY if you hold shares in registered form and want to receive cash is made is lower than 40% of the outstanding shares of Community Bank common stock, a pro rata portion of the non-electing shares will be converted into the right elect to receive cash in order to provide the 40% cash/60% stock allocation. Because of this proration, you cannot be certain of receiving the form of consideration that you desire with respect to exchange for some or all of your shares of Community Bank common stock. For more information about the election procedures and proration of shares, please refer to the Merger Agreement and the proxy statement/prospectus. If you do not want to elect to exchange any receive cash for some or all of your shares of Community Bank common stock for cashstock, your stock certificates representing do NOT complete the shares for which you are electing to receive cash must be returned with the completed and executed Election Form and Letter of TransmittalTransmittal and do NOT return your stock certificates. Do NOT complete the Election Form and Letter of Transmittal if you hold your shares in unregistered form. If you want to make a cash election but hold shares in unregistered form or "street name", please contact your broker, bank or other nominee for more information and instructions on how to make an election. These shares may be eligible for bookYou are not guaranteed to receive only cash if you make a cash election. All elections and non-entry transfer from your broker, bank or other nominee elections are subject to the account terms of the Merger Agreement provided to shareholders as part of the proxy statement/prospectus, dated March 30, 2005. The Merger Agreement provides that the form of merger consideration actually received by you may differ from the form of consideration that you elect to receive because of the proration provisions contained in the Merger Agreement. Please refer to the instructions below and the proxy statement/prospectus for more information about proration. The Election Deadline is 5:00 p.m., EST on May 16, 2005. If the exchange agent. If you are mailing your stock certificates, we recommend that you make copies of your stock certificates and completed American Stock Transfer & Trust Company, does not receive a valid Election Form and Letter of Transmittal. We also recommend sending Transmittal at its designated office by the items by registered mailElection Deadline, return receipt requestedyou will be deemed to have made a "non-election" and your shares of Community Bank common stock will be converted into the right to receive shares of Bankshares common stock, and insured for at least 2.0% subject to the proration provisions of the market value ($20 minimum). This is the amount that it commonly costs to replace a lost certificate. Please do not return any documents to Community Bank or BanksharesMerger Agreement.

Make no election. If you do not want to make a cash election or you want to receive Bankshares common stock in exchange for your shares of Community Bank Xxxxx Xxxxxx common stock, you should not complete and return the Election Form and Letter of Transmittal and you will automatically be deemed to have made a "non-election" as described above. Non-elections are subject to the proration provisions of the Merger Agreement. You will be mailed another Letter of Transmittal and instructions promptly after consummation of the merger. You are not guaranteed to receive your election choice. Bankshares will pay cash for 40at least 34% but not more than 50% of the outstanding shares of Community Bank Xxxxx Xxxxxx common stock outstanding at the effective time of the merger and issue shares of Bankshares common stock for 60% the remaining Xxxxx Xxxxxx common stock outstanding at the effective time of the outstanding shares of Community Bank common stockmerger. If the aggregate number of Xxxxx Xxxxxx shares of Community Bank common stock for which an election to receive cash is made is higher than 4050% of the outstanding shares of Community Bank Xxxxx Xxxxxx common stock, a pro rata portion of those shares will be converted into the right to receive Bankshares common stock in order to provide the 40for a 50% cash/60cash/50% stock allocation. If the aggregate number of Xxxxx Xxxxxx shares of Community Bank common stock for which an election to receive cash is made is lower than 4034% of the outstanding shares of Community Bank Xxxxx Xxxxxx common stock, a pro rata portion of the non-electing shares for which no election to receive cash is made will be converted into the right to receive cash in order to provide the 40for a 34% cash/60cash/66% stock allocation. Under certain circumstances entitling Xxxxx Xxxxxx to terminate the Merger Agreement, Xxxxxxxxxx is entitled to prevent such termination by paying additional consideration in cash or Bankshares common stock for shares of Xxxxx Xxxxxx common stock that would otherwise be converted into the right to receive Bankshares common stock. In addition, if Bankshares would be required to issue more than 2,500,000 shares of Bankshares common stock as consideration in the merger, the minimum number of shares of Xxxxx Xxxxxx common stock to be converted into cash will be increased to the extent necessary such that Bankshares would not be required to issue more than 2,500,000 shares of Bankshares common stock. Because of this proration, you cannot be certain of receiving the form of consideration that you desire with respect to all of your shares of Community Bank Xxxxx Xxxxxx common stock. For more information about the election procedures and proration of shares, please refer to the Merger Agreement and the proxy statement/prospectus. If you elect to exchange any of your shares of Community Bank Xxxxx Xxxxxx common stock for cash, your stock certificates representing the shares for which you are electing to receive cash must be returned with the completed and executed Election Form and Letter of Transmittal. Do NOT complete the Election Form and Letter of Transmittal if you hold your shares in unregistered form. If you want to make a cash election but hold shares in unregistered form or "street name", please contact your broker, bank or other nominee for more information and instructions on how to make an election. These shares may be eligible for book-entry transfer from your broker, bank or other nominee to the account of the exchange agent. If you are mailing your stock certificates, we recommend that you make copies of your stock certificates and completed Election Form and Letter of Transmittal. We also recommend sending the items by registered mail, return receipt requested, and insured for at least 2.0% of the market value ($20 minimum). This is the amount that it commonly costs to replace a lost certificate. Please do not return any documents to Community Bank Xxxxx Xxxxxx or Bankshares.

Make no election. If you do not want to make a cash election or you want to receive Bankshares Bancorp common stock in exchange for your shares of Community Bank CNB common stock, subject to proration, you should not complete and return the Election Form and Letter of Transmittal and you will automatically be deemed to have made a "“non-election" as described above. .” You will be mailed another Letter of Transmittal and instructions promptly after consummation of the merger. 1. You are not guaranteed to receive your election choice. Bankshares will pay cash The Instructions for 40% of Completing the outstanding shares of Community Bank common stock and issue shares of Bankshares common stock for 60% of the outstanding shares of Community Bank common stock. If the aggregate number of shares of Community Bank common stock for which an election to receive cash is made is higher than 40% of the outstanding shares of Community Bank common stock, a pro rata portion of those shares will be converted into the right to receive Bankshares common stock in order to provide the 40% cash/60% stock allocation. If the aggregate number of shares of Community Bank common stock for which an election to receive cash is made is lower than 40% of the outstanding shares of Community Bank common stock, a pro rata portion of the non-electing shares will be converted into the right to receive cash in order to provide the 40% cash/60% stock allocation. Because of this proration, you cannot be certain of receiving the form of consideration that you desire with respect to all of your shares of Community Bank common stock. For more information about the election procedures and proration of shares, please refer to the Merger Agreement and the proxy statement/prospectus. If you elect to exchange any of your shares of Community Bank common stock for cash, your stock certificates representing the shares for which you are electing to receive cash must be returned with the completed and executed Election Form and Letter of Transmittal; 2. The Election Form and Letter of Transmittal, which enables you to make your election to receive cash, attach your stock certificates, complete the Substitute Form W-9 to certify your Taxpayer Identification/Social Security Number and include any information required for special payment, special delivery or signature guarantee; 3. The Substitute Form W-9 Guidelines; 4. A Notice of Guaranteed Delivery, to be used if none of the procedures for delivering your certificate(s) representing shares of CNB common stock can be completed on a timely basis; and 5. A return envelope for mailing the completed items to the exchange agent, American Stock Transfer & Trust Company. This communication is not a solicitation of a proxy from any CNB stockholder. Bancorp has filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 which contains the proxy statement/prospectus that was mailed to CNB stockholders on or about April 4, 2007. Bancorp and CNB may file other relevant documents concerning the merger with the SEC. STOCKHOLDERS OF CNB ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC BEFORE MAKING ANY VOTING OR INVESTMENT DECISION WITH RESPECT TO THE MERGER, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER. Stockholders may obtain documents filed with the SEC free of charge at the SEC’s website, wxx.xxx.xxx. Documents filed with the SEC by Bancorp may also be obtained without charge by contacting Sxxxx Spring Bancorp, Inc., Attn: Rxxxxx X. Xxxxxxxxxx at 10000 Xxxxxxx Xxxxxx, Xxxxx, Xxxxxxxx 00000 or by telephone at (000)000-0000. CNB’s annual report on Form 10-KSB for the year ended December 31, 2006 is attached to the proxy statement/prospectus as Appendix D. Other documents filed with the SEC by CNB may be obtained without charge by contacting CNB Bancorp, Inc., Attn: Sxxxxxx Xxxxxx at 7000 Xxxxxxx Xxxxxxx, Glen Burnie, Maryland 21060 or by telephone at (000)000-0000. 2 These instructions are for the accompanying Election Form and Letter of Transmittal for the stockholders of CNB. You should complete the Election Form and Letter of Transmittal and return the stock certificates (or the enclosed Notice of Guaranteed of Delivery) for which you have made a cash election ONLY if you are the record holder of the shares and want to elect to receive cash in exchange for some or all of your shares of CNB common stock. If you do not want to elect to receive cash for some or all of your shares of CNB common stock, do NOT complete the Election Form and Letter of Transmittal and do NOT return your stock certificates. Do NOT complete the Election Form and Letter of Transmittal if you hold are not the record holder of your shares in unregistered formshares. If you want to make a cash election but hold shares are not the record holder of the shares, i.e., they are held by a nominee or your bank or broker holds them in unregistered form or "“street name", ,” please contact your broker, bank or other nominee for more information and instructions on how to make an election. These shares may be eligible for bookYou are not guaranteed to receive only cash if you make a cash election. All elections and non-entry transfer from your broker, bank or other nominee elections are subject to the account terms of the Merger Agreement provided to stockholders as part of the proxy statement/prospectus, dated March 28, 2007. The Merger Agreement provides that the form of merger consideration actually received by you may differ from the form of consideration that you elect to receive because of the proration provisions contained in the Merger Agreement. Please refer to the instructions below and the proxy statement/prospectus for more information about proration. The Election Deadline is 5:00 p.m., EST on May 21, 2007. If the exchange agent. If you are mailing your stock certificates, we recommend that you make copies of your stock certificates and completed American Stock Transfer & Trust Company, does not receive a valid Election Form and Letter of Transmittal. We also recommend sending Transmittal at its designated office by the items by registered mailElection Deadline, return receipt requestedyou will be deemed to have made a “non-election” and your shares of CNB common stock will be converted into the right to receive shares of Bancorp common stock, and insured for at least 2.0% subject to the proration provisions of the market value ($20 minimum). This is the amount that it commonly costs to replace a lost certificate. Please do not return any documents to Community Bank or BanksharesMerger Agreement.

Make no election. If you do not want to make a cash an election or of the form of merger consideration you want to receive Bankshares common stock in exchange for your shares of Community Bank Potomac common stock, you should not complete and return the Election Form and Letter of Transmittal and you will automatically be deemed to have made a "“non-election" ” as described above. Non-elections are subject to the proration provisions of the Merger Agreement. You will be mailed another Letter of Transmittal and instructions on how to submit your shares promptly after consummation of the merger. You are not guaranteed to receive your election choice. Bankshares Bancorp will pay cash for 4050% of the outstanding shares of Community Bank Potomac common stock outstanding at the effective time of the merger and issue shares of Bankshares Bancorp common stock for 60% the remaining Potomac common stock outstanding at the effective time of the outstanding shares of Community Bank common stockmerger. If the aggregate number of Potomac shares of Community Bank common stock for which an election to receive cash is made is higher than 4050% of the outstanding shares of Community Bank Potomac common stock, a pro rata portion of those shares will be converted into the right to receive Bankshares Bancorp common stock in order to provide the 40for a 50% cash/60cash/50% stock allocation. If the aggregate number of Potomac shares of Community Bank common stock for which an election to receive cash is made is lower than 4050% of the outstanding shares of Community Bank Potomac common stock, a pro rata portion of the non-electing shares for which no election to receive cash is made will be converted into the right to receive cash in order to provide the 40for a 50% cash/60cash/50% stock allocation. Because of this proration, you cannot be certain of receiving the form of consideration that you desire with respect to all of your shares of Community Bank Potomac common stock. For more information about the election procedures and proration of shares, please refer to the Merger Agreement and the proxy statement/prospectus. If you elect want to make an election of the form of merger consideration you will receive in exchange for any of your shares of Community Bank Potomac common stock for cashstock, your stock certificates representing the shares for which you are electing to receive cash making an election must be returned with the completed and executed Election Form and Letter of Transmittal. Do NOT complete the Election Form and Letter of Transmittal if you hold your shares in unregistered form. If you want to make a cash an election but hold shares in unregistered form or "“street name"”, please contact your broker, bank or other nominee for more information and instructions on how to make an election. These shares may be eligible for book-entry transfer from your broker, bank or other nominee to the account of the exchange agent. If you are mailing your stock certificates, we recommend that you make copies of your stock certificates and completed Election Form and Letter of Transmittal. , We also recommend sending the items by registered mail, return receipt requested, and insured for at least 2.0% of the market value ($20 minimum). This is the amount that it commonly costs to replace a lost certificate. Please do not return any documents to Community Bank Potomac or BanksharesBancorp.