LOS ANGELES--(BUSINESS WIRE)--April 16, 2004--Center Financial Corporation (Nasdaq:CLFC), the financial holding company of Center Bank, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.04 per share. This cash dividend will be paid on or about May 14, 2004, to shareholders of record at the close of market on April 30, 2004.

As previously announced, Center Financial declared a two-for-one stock split, which was paid in March 2004. The company paid quarterly cash dividends of $0.08 per share in February 2004 and October 2003. For 2003, Center Financial reported annualized net income of $11.7 million, or $0.72 per diluted share, up 25% from $9.3 million, or $0.61 per diluted share, in 2002. All per share figures have been adjusted to reflect the two-for-one stock split in March 2004 and the 8% stock dividend paid March 2003.

Center Financial will report financial results for its 2004 first quarter during the week of April 19, 2004.

While the Board intends that Center Financial will continue to pay cash dividends for the foreseeable future, no assurances are given that the performance of the company or Center Bank will justify the payment of cash dividends by Center Financial in any given period, or that the amount of any cash dividend paid will be the same as or greater than prior cash dividends paid.

About Center Financial Corporation

Center Financial Corporation is the holding company of Center Bank, a community bank offering a full range of financial services. Founded in 1986, Center Bank specializes in commercial and SBA loans and trade finance products for multi-ethnic and small business customers, and is one of the largest financial institutions in the nation focusing on the Korean-American community. The Bank operates 13 branches throughout Southern California and five Loan Production Offices located in Phoenix, Seattle, Denver, Washington D.C. and Las Vegas. Further information about the company can be found at www.centerbank.com.

    CONTACT: Center Financial Corporation
             Y. H. Kim, 213-251-2250
             James Ryu, 213-251-2206
               or
             PondelWilkinson Inc.
             Angie Yang/Cecilia Wilkinson, 323-866-6004
             investor@pondel.com

    SOURCE: Center Financial Corporation