CLFCE Center Financial (MM)

Center Financial Corporation (NASDAQ:CLFCE) today said that the company has completed the audit and review of its financial statements for the years ended December 31, 2001 through 2004 and for the quarters during those years and fiscal 2005. Center Financial's Form 10-K/A for the year ended December 31, 2004 was filed with the Securities and Exchange Commission (SEC) today. The company expects its Form 10-Q/As for the three quarters of 2005, including the reviews by the company's independent auditors and certifications of the company's chief executive officer and chief financial officer, will be recorded by the SEC the next business day. The amended financial statements reflect the elimination of hedge accounting treatment for the interest rate swaps during the said periods. 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 26 branch and loan production offices across the nation. Of the company's 17 full-service branches, 15 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 actual timing of the company's filing of its restated financial results for the 2005 quarterly periods. 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.