Bank of the Carolinas Corporation Suspended from Trading on Nasdaq; Expected to be Quoted on Pink Sheets

Bank of the Carolinas Corporation

, the parent company of Bank of the Carolinas, announced that effective March 5, 2012, trading of its common stock on the Nasdaq Stock Market will be suspended. Trading of the company's common stock is expected to be available for quotation on the OTC Pink market, commonly referred to as the "Pink Sheets," following the suspension from Nasdaq. The company also plans to pursue the quotation of its common stock on the OTC Bulletin Board. The move to the Pink Sheets is the result of the company's inability to regain compliance with Nasdaq Marketplace Rules regarding the minimum market value of the company's publicly held shares. Companies listed on the Nasdaq Global Market must maintain a market value of publicly held shares of at least $5,000,000. The company has chosen not to appeal Nasdaq's decision to suspend trading due to the management time and expense involved in pursuing an appeal.