Citizens Trust Bank to Serve More Minority Borrowers as a Result of Increased Deposits from Fannie Mae

ATLANTA, GA - March 21, 2006 - Citizens Trust Bank (CTB) received $1.5 million in deposits from Fannie Mae as part of their initiative to increase deposits with select Community Development Financial Institutions (CDFI) for mortgage and community development financing.

"Citizens Trust Bank has an impressive record of providing mortgage opportunities to minority borrowers over the years, and Fannie Mae is pleased to assist in their effort," said Ken Bacon, executive vice president of Housing and Community Development. "With a proven commitment to providing home buying opportunities for minorities and other underserved families, CTB is an ideal partner."

The new deposits are significantly larger than previous Fannie Mae deposits and positions CTB to provide additional loans to its surrounding communities. These deposits are made in order to enable CDFIs, such as CTB, to do more in the way of mortgage financing, particularly for minority consumers.

According to James E. Young, President/CEO of Citizens Trust Bank, "We are very pleased to have been chosen by Fannie Mae as one of the CDFIs to have more funding allocated to our community's clientele. With these resources, we can help enhance the lives of minorities to an even greater degree than before."

Citizens Trust Bank, one of the nations' largest African American owned banks, has long established a reputation and commitment to helping minorities achieve financial success. CTB has been a part of the Certificate of Deposit Account Registry Service®, CDARS program for three years which offers FDIC insurance for up to $25 million. Banks that offer CDARS are members of a special network set up by Promontory Interfinancial Network, LLC. When a customer places a large deposit with a network member, that bank can place the funds into certificates of deposit issued by other banks in the network.

About Citizens Trust Bank
As the leader in the financial services industry, Citizens Trust Bank prides itself on offering a full range of quality products and services. Since 1921, the Bank has continued to fulfill its mission to promote financial stability and business development, stress the principles of thrift, and make home ownership a reality. Since its inception, CTB has remained dedicated to the growth and development of communities through superior products and extraordinary service.

Citizens Trust Bank is the third largest African American owned financial institution in the nation and has almost 85 years of history, assets of more than $350 million and eight offices throughout metropolitan Atlanta and Columbus, Georgia, and a branch in Birmingham and Eutaw, Alabama. Through its parent company, Citizens Bancshares Corporation, CTB offers its common stock over-the-counter to the general public under the trading symbol CZBS. For more information please visit Citizens Trust Bank on the web at http://www.CTBconnect.com.

Contact: Cynthia Day, COO of Citizens Trust Bank (404) 575-8306
J. Todd Atenhan or James R. Kautz, Investor Relations (888) 917-5109