CLFCE Center Financial (MM)

Center Financial Corporation (Nasdaq:CLFCE), the holding company of Center Bank, today announced the opening of its newest full-service branch office in Irvine, Calif. The company named Clara H. Choe as manager of the Irvine Branch, Center Bank's 17th full-service office, located at 14429 Culver Drive, Irvine, California 92604, telephone number 949-777-3777. "We are excited to strengthen our network in the important Southern California area as a premier provider of financial services to the Korean-American and other ethnic business communities," said (Paul) Seon-Hong Kim, president and chief executive officer of Center Financial. "Our new branch in Irvine will serve a large and growing marketplace small and mid-sized business owners, and we feel the prospects for our newest full-service branch are strong. "Managing our Irvine Branch is Clara H. Choe, who brings nearly two decades of commercial banking experience in the U.S. and Korea to Center Bank," Kim added. "Clara's experience in relationship management banking encompasses a wide range of expertise, including business development, credit risk analysis, branch administration, loan production and cash management. We believe she will be a great asset to our organization." Clara Choe most recently served as a relationship manager, vice president, at Mizuho Corporate Bank of California where she acquired and developed loans and deposits of U.S. subsidiaries of large Korean companies. Prior, Choe held various positions at Citigroup in Seoul, Korea, ultimately becoming a relationship manager for corporate banking and vice president. In Korea, Choe also worked at AT&T Communications as director of sales and operations. Prior to her time at AT&T, Choe was a supervisor of the consumer credit unit at Citibank, also in Seoul. In the United States, Choe has worked in a variety of capacities for both Chase Manhattan Bank and Wells Fargo Bank. Choe received her master of business administration from the University of Southern California and her bachelor of arts in economics from the University of California, Berkeley. About Center Financial Corporation Center Financial Corporation is the holding company of Center Bank, a community bank offering a full range of financial services for diverse ethnic and small business customers. Founded in 1986 and specializing in commercial and SBA loans and trade finance products, Center Bank has grown to be one of the nation's largest financial institutions focusing on the Korean-American community, with total assets of $1.6 billion at September 30, 2005. Headquartered in Los Angeles, Center Bank operates 25 branch and loan production offices across the nation. Of the company's 16 full-service branches, 14 are located throughout Southern California, along with one branch each in Chicago and Seattle. Center Bank's nine loan production offices are strategically located in Phoenix, Seattle, Denver, Washington D.C., Las Vegas, Atlanta, Honolulu, Houston and Dallas. Center Bank is a California state-chartered institution and member of the FDIC. For additional information on Center Bank, visit the company's Web site at www.centerbank.com. This release may contain forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and accordingly, the cautionary statements contained in Center Financial Corp's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2004. (See Business, and Management's Discussion and Analysis), and other filings with the Securities and Exchange Commission are incorporated herein by reference. These factors include, but are not limited to: the company's successful operation of the newly established Irvine Office; the effect of interest rate and currency exchange fluctuations; competition in the financial services market for both deposits and loans; Center Financial's ability to efficiently incorporate acquisitions into its operations; the ability of Center Financial and its subsidiaries to increase its customer base; and regional and general economic conditions. Actual results and performance in future periods may be materially different from any future results or performance suggested by the forward-looking statements in this release. Such forward-looking statements speak only as of the date of this release. Center Financial expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in the Company's expectations of results or any change in events.