LARL Laurel Capital

Laurel Capital Group Inc. Announces Completion of Stock Repurchase Program ALLISON PARK, Pa., Oct. 31 /PRNewswire-FirstCall/ -- Laurel Capital Group, Inc. ("the Company") the holding company for Laurel Savings Bank ("the Bank"), announced today that it has completed the repurchase of 96,000 shares or 4.99% of the issued and outstanding common stock of the Company at an average price of $20.52 per share. The repurchased shares will be held as treasury stock and will be available for general corporate purposes. The repurchase was originally announced on April 17, 2002 and represents the fifth stock repurchase program completed by the Company. As of October 31, 2003, a total of 1,874,629 shares of the Company's common stock are issued and outstanding. At June 30, 2003, the Company had total consolidated assets of $322.7 million, total consolidated liabilities of $295.1 million and stockholders' equity of $27.7 million or $14.71 per share. Laurel Capital Group, Inc., headquartered in Allison Park, Pa., is the holding company for Laurel Savings Bank. Laurel Savings Bank is a 117-year- old, Pennsylvania-chartered, FDIC-insured savings bank with eight full-service offices located in Allegheny and Butler counties offering a wide variety of financial services and products to customers throughout the Pittsburgh metropolitan area. The Company's filings with the Securities and Exchange Commission are available electronically on the Internet and can be found at http://www.sec.gov/edgar/searchedgar/webusers.htm . This news release may contain forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Actual future results and trends could differ materially from those set forth in such statements due to various factors. Such factors include the possibility that increased demand or prices for the Company's financial services and products may not occur, changing economic and competitive conditions, technological developments, and other risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. DATASOURCE: Laurel Capital Group, Inc. CONTACT: Edwin R. Maus, President, +1-412-487-7404 ext. 303, or , or John A. Howard, Jr., Sr. Vice-President-CFO, +1-412-487-7404 ext. 311, or , both of Laurel Capital Group, Inc.

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