UNIVERSITY BANCORP TAPS LOCAL TECHNOLOGY LEADER AS DIRECTOR

FOR IMMEDIATE RELEASE

UNIVERSITY BANCORP TAPS LOCAL TECHNOLOGY LEADER AS DIRECTOR

April 5, 2002, Ann Arbor, Michigan—Ann Arbor-based University Bancorp announced today that Gary Baker, an Ann Arbor resident and a widely recognized leader in the technology industry, has accepted a board seat and agreed to serve as a Director.

“We are thrilled and excited to add someone of Mr. Baker’s expertise to our bank holding company board,” said Stephen Lange Ranzini, President of University Bancorp.  “Our bank holding company and its wholly-owned subsidiary, University Bank, are committed to the effective deployment of leading edge technology and Mr. Baker’s acceptance of a directorship position complements that strategy.  We are certain to benefit from his demonstrated business acumen in the technology field,” President Ranzini added.

Baker is currently Director, Automotive for the Manufacturing Global Industry Group of one of the world’s largest technology services firms and is responsible for interfacing with experts in all of that firm’s five business lines.

Baker also enjoys local media notoriety with his weekly broadcasts as the Internet Advisor on WJR 760AM and on Channel 7 Action News.  Baker is a former Partner in the Advanced Technology Group in Andersen that focuses on eCommerce.  Baker was also the founder and CEO of one of Ann Arbor’s first Internet Service Providers, Online Technologies Corporation.  Online Technologies is one of the oldest and largest web site hosting firms for businesses in Michigan.  Baker earned his BA and MBA from the University of Michigan.

Mr. Baker’s banking industry experience includes membership in the Federal Reserve Bank of Chicago Advisory Council on Small Business.  Mr. Baker was also President, Director and Co-Founder of Access BIDCO, one of the twelve Business and Industrial Development Companies in the state of Michigan.  University Bancorp also founded and is a part-owner of Michigan BIDCO.  BIDCO’s invest in growth businesses that are not yet bankable.

Mr. Baker also has extensive experience in industry and government advisory councils and industry associations including past Chairman of the Small Business Association of Michigan, a member of the Founding Board of Directors of Ann Arbor’s New Enterprise Forum, a past Director of the Ann Arbor Area Chamber of Commerce, a past Director of the Michigan Technology Council, and an appointment to the Governor’s Michigan Venture Capital Task Force.

Mr. Baker lectures extensively on Internet-related topics in general and more specifically, on eBusiness activities in the automotive industry, including the Online Auto, AutoTech, eAutoWorld and International eCommerce Trade Sales Conferences, among others.

Mr. Baker will replace Director Keith Brenner, a resident of Boulder, Colorado who is stepping down from the board after 12 years, to focus on his other interests in Colorado.

University Bancorp, Inc. is a Federal Reserve regulated Bank Holding Company and owns Ann Arbor-based University Bank.  University Bank is a $45 million asset State chartered, FDIC insured, locally owned and managed community bank.  The Bank’s commissioned business development officers are focused on the local business community, calling on business owners directly at their offices.  Other bank specialties include residential mortgages, commercial real estate lending, highly competitive deposit products for business owners, and insurance and stock and bond investments through its wholly owned subsidiary, University Insurance & Investments, Inc.

CONTACT:  STEPHEN LANGE RANZINI
UNIVERSITY BANK
734-741-5858, Ext. 226