JMBI James Monroe Bancorp (MM)

ARLINGTON, Va., July 11 /PRNewswire-FirstCall/ -- The Special Meeting of Shareholders of James Monroe Bancorp, Inc. (NASDAQ:JMBI) was held this morning in Fairfax, Virginia. At that meeting, 99.1% of the shares voting, which represent 77.3% of total outstanding shares, voted in favor of the Board of Directors' proposal to merge James Monroe Bancorp, Inc. ("James Monroe") with and into Mercantile Bankshares Corporation ("Bankshares") (NASDAQ:MRBK) of Baltimore, Maryland. The necessary state and federal bank regulators have approved the merger between James Monroe and Bankshares. Concurrent with the merger, James Monroe Bank, a wholly owned subsidiary of James Monroe, will merge with Mercantile-Safe Deposit and Trust Company (MSD&T), a wholly owned subsidiary of Bankshares, and into the Mercantile Potomac Bank division of MSD&T. It is anticipated that the merger will close after the close of business on July 17, 2006. Edward J. Kelly III, Chairman, President and CEO of Bankshares, stated, "I am delighted by the vote of confidence that the James Monroe shareholders have given this combination. This acquisition adds significant value to our franchise in the greater Washington area with strategically located banking offices and an experienced team of bankers." Investors and security holders may obtain a free copy of the proxy statement/prospectus and other documents filed by James Monroe Bancorp, Inc. and Mercantile Bankshares Corporation with the SEC at the SEC's Web site at http://www.sec.gov/. In addition, investors and security holders may obtain free copies of the documents filed with the SEC by contacting John R. Maxwell, James Monroe Bancorp, Inc., 3033 Wilson Boulevard, Arlington, VA 22201, telephone: 703-524-8100, or from James Monroe's Web site at http://www.jamesmonroebank.com/. Investors and security holders may obtain free copies of the documents filed with the SEC by Mercantile Bankshares Corporation by contacting David Borowy, Mercantile Bankshares Corporation, Two Hopkins Plaza, Baltimore, MD 21201, telephone: 410-347-8039 or from Bankshares' Web site at http://www.mercantile.com/invest/sec.html. Mercantile Bankshares Corporation, with more than $16 billion in assets, is a regional multibank holding company with headquarters in Baltimore, Maryland. It is comprised of Mercantile-Safe Deposit and Trust Company, 10 community banks and a mortgage banking company. Its 11 banks serve communities in Maryland, Washington, D.C., Northern Virginia, the Delmarva Peninsula and southern Pennsylvania. Mercantile-Safe Deposit and Trust Company represents approximately 45% of total assets and operates 56 offices in Maryland, Northern Virginia, Washington, D.C., and southern Pennsylvania. Additional information is available at http://www.mercantile.com/. DATASOURCE: Mercantile Bankshares Corporation CONTACT: David E. Borowy, Investor Relations, Mercantile Bankshares Corporation, +1-410-347-8361, Web site: http://www.mercantile.com/ http://www.mercantile.com/invest/sec.html http://www.jamesmonroebank.com/

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