NARAE Nara Bancorp (MM)

Nara Bancorp, Inc. (Nasdaq:NARAE) and its subsidiary Nara Bank today announced that Mr. Alvin D. Kang, Executive Vice President and Chief Financial Officer of Los Angeles-based Broadway Financial Corporation, the holding company of Broadway Federal Bank f.s.b., Executive Vice President, Chief Operating and Chief Financial Officer of Broadway Federal Bank, and a 34-year financial services veteran, has been appointed to serve as the new Chief Financial Officer of Nara Bancorp and Nara Bank. Mr. Kang is expected to start in his new position at Nara on or about August 1, 2005. Ho Yang, Nara Bank and Bancorp's president and chief executive officer, said, "I am looking forward to the arrival of Mr. Kang and working with him. He adds an important component to our management team. His broad experience will be instrumental in further strengthening the bank for future growth and success." Mr. Kang has worked for Broadway Financial Corporation, the holding company for Broadway Federal Bank, since 2001 where he played a lead operating and financial role that enabled the Bank to achieve record earnings for the past three years. Prior to joining Broadway Federal, Mr. Kang served as a senior officer of an investment banking and consulting firm, where he served as the lead executive on merger and acquisition transactions, and as an audit partner of KPMG LLP as well as Ernst & Young LLP in their Los Angeles offices. Mr. Kang was with KPMG LLP for 26 years during which time he has served as lead partner in charge of the Asian Business Group and has served as lead partner on audits of major financial institutions in Los Angeles including Home Savings, Glendale Federal, Coast Savings, and First Federal Bank of Santa Monica. About Nara Bancorp, Inc. Nara Bancorp, Inc. is the parent company of Nara Bank, which was founded in 1989. Nara Bank is a full-service community bank headquartered in Los Angeles, with twenty-five branches and offices in the United States and one representative office in Seoul, Korea. Nara Bank operates full-service branches in California and New York, with loan production offices in California, Washington, Colorado, Texas, Georgia, Illinois, New Jersey, and Virginia. Nara Bank was founded specifically to serve the needs of Korean-Americans, one of the fastest-growing Asian ethnic communities over the past decade. Presently, Nara Bank serves a diverse group of customers mirroring its communities. Nara Bank specializes in core business banking products for small and medium-sized companies, with emphasis in commercial real estate and business lending, SBA lending and international trade financing. Nara Bank is a member of the FDIC and is an Equal Opportunity Lender. For more information on Nara Bank, call our Los Angeles office at 213-639-1700 or New York office at 212-279-2790 or visit our website at www.narabank.com. Nara Bancorp, Inc. stock is listed on Nasdaq under the symbol "NARAE."