CAPX Elkhorn S&P 500 Capital Expenditures Portfolio

Capital Crossing Bank (NASDAQ:CAPX) (the "Bank") announced today that it has increased the amount of its common stock repurchase program by $10.0 million and extended the repurchase program until July 11, 2007. As of July 12, 2006, the Bank may spend up to approximately $11.5 million to repurchase shares of its common stock on the open market or in privately negotiated transactions, subject to regulatory considerations. These changes to the repurchase program have been approved by the Bank's Board of Directors and regulatory authorities. As of July 12, 2006, the Bank had repurchased 7,157,233 shares under its current repurchase program and previous repurchase programs. Capital Crossing Bank is a Massachusetts-chartered, FDIC-insured trust company with $1.0 billion in assets as of March 31, 2006. The Bank operates as a commercial bank, providing financial products and services to customers through its executive and main offices in Boston, its website at www.capitalcrossing.com, and through its leasing subsidiary Dolphin Capital Corp. located in Moberly, Missouri. The Bank is a value oriented investor in whole loans and loan portfolios generally secured by commercial, multi-family and one-to-four family residential real estate and other business assets.