2010 Annual Meeting of Shareholders

Albemarle, NC - Shareholders of Uwharrie Capital Corp learned about their company's development and future plans during the Company's recent Annual Meeting of Shareholders held at the Stanly County Agri-Civic Center.

Boy Scout Troop 82 and Girl Scout Troop 2052 presented the colors. Recognitions of teachers of the year from Anson, Cabarrus and Stanly counties were presented by Chairmen of the Subsidiary Banks' Boards of Directors, Ken Huntley of Anson Bank & Trust, Doug Stafford of Cabarrus Bank & Trust, and Jerry Long of Bank of Stanly. Honored were Steffany LaBree as Anson County's Teacher of the Year, Candace Reel as Cabarrus County's Teacher of the Year, and Shawn Britt as Stanly County's Teacher of the Year.

Additionally, the company honored an outstanding business honoree from Anson, Cabarrus and Stanly counties. President Dana Maness of Anson Bank & Trust, President and CEO's Pat Horton of Cabarrus Bank & Trust, and Bill Lawhon of Bank of Stanly presented awards to Grace and Cyndie Mynatt of Ben Mynatt Family of Dealerships in Concord, and Ron and Faye Greene of Greene's Catering and Amusements of Albemarle.

During the business meeting, shareholders approved three proposals of business including the election of directors, advisory vote on executive compensation and ratification of appointment of Dixon Hughes PLLC as the independent registered public accounting firm.

Elected to the Uwharrie Capital Corp Board of Directors for 3-year terms were Thomas M. Hearne Jr. of Albemarle; Charles D. Horne of Lilesville; Timothy J. Propst of Concord; Donald P. Scarborough of Wadesboro ; John W. Shealy Jr. of Concord and S. Todd Swaringen of Albemarle.

At a brief meeting of the Uwharrie Capital Corp Board of Directors following the Annual Meeting, Don Scarborough was elected Chairman of the Board, and Joe Brooks was elected Vice Chairman for 2010 – 2011.

Uwharrie Capital Corp, (www.UwharrieCapitalCorp.com) located in Albemarle, NC, is a $486 million multi-bank holding company and the parent of Anson Bank & Trust (Anson County), Bank of Stanly (Stanly County), Cabarrus Bank & Trust (Cabarrus County), and Strategic Investment Advisors (an investment firm).

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Pictured:

Newly-elected Uwharrie Capital Corp Directors –

Left to Right: Don Scarborough, Chairman and Joe Brooks, Vice Chairman