Under the terms of the agreement Nuestro`s shareholders will receive 0

Under the terms of the agreement, Nuestro`s shareholders will receive 0.2697shares of Four Oaks Fincorp, Inc. common stock for each share of outstandingNuestro capital stock. The transaction has been approved by the boards ofdirectors of both companies. The transaction is subject to the approval ofNuestro`s shareholders and regulatory agencies, as well as to other customaryconditions of closing. Nuestro is a commercial bank located in Raleigh, North Carolina with totalassets of approximately $16.8 million and total deposits of approximately $7.6million as of December 31, 2008. It operates one full-service branch focused onserving the local Hispanic community In announcing the transaction, Ayden R.

Lee, Jr., Four Oaks` Chairman, Presidentand Chief Executive Officer said, "As a community bank we are committed toproviding quality, affordable financial products and services to all members ofthe communities we serve. Nuestro Banco was formed to reach a segment of thecommunity which has language and cultural barriers that impede their access toor acceptability of the traditional banks in our country. By acquiring NuestroBanco we will strengthen our own capital position and in turn we will integratetheir operations into our own and strive to assist their customers and staffwith the transition. We welcome our new shareholders and look forward to theopportunities ahead." The transaction is expected to close during the third quarter of 2009 SandlerO`Neill + Partners, L.P.

served as financial advisor to Nuestro Banco and HoweBarnes Hoefer & Arnett, Inc served as financial advisor to Four Oaks Fincorp,Inc. About Four OaksFour Oaks began business as Bank of Four Oaks in June of 1912 in Four Oaks,Johnston County, North Carolina. The bank operated as a unit bank until 1986when its Clayton, North Carolina branch opened Presently, there are 17 branchesoperating in eight counties. Four Oaks has the highest market share of all banksin Johnston County as of June 30, 2008 As of March 31, 2009, Four Oaks Fincorp,Inc. had assets of $957.3 million, net loans of $696.3 million, deposits of$755.0 million, and shareholders` equity of $67.3 million In addition, FourOaks Fincorp, Inc. had 6.965 million shares outstanding, which are traded on theOTC Bulletin Board under the symbol FOFN, and a market capitalization of $47.7million.

Information in this press release contains forward-looking statements. Additional factorsthat could cause actual results to differ materially are discussed in documentsfiled with the Securities and Exchange Commission by Four Oaks Fincorp, Inc.from time to time, including without limitation Annual Reports on Form 10-K,Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K Except asrequired by law, Four Oaks Fincorp, Inc. and Four Oaks do not undertake a dutyto update any forward-looking statements in this press release Four Oaks Fincorp, Inc.Ayden R. Lee, Jr., Chairman, President, and Chief Executive OfficerorNancy S. Wise, Executive Vice President and Chief Financial Officer919-963-2177 Copyright Business Wire 2009.

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