Date: May 24, 2004
For Release: Immediately

Subject: Three Organizations Join Forces to Provide "A Community Business Opportunity."

Project Renew, Women's Enterprise (a program of the Fort Wayne Women's Bureau) and Tower Bank present this first-ever Fort Wayne program.

Contacts: Nicole Turner-Abrahams (Executive Director of Project Renew)
423-1666
Leslie Alford (Director, Women's Enterprise, a program of the Fort Wayne Women's Bureau), 424-7977
Trois K. Hart (V.P., Tower Bank) 427-7053

A unique partnership has led to the formation of "A Community Business Opportunity." This economic development effort's goal is to find a suitable and qualified occupant for 2314 South Hanna Street who is interested in operating a business that would meet the needs of the community.

Project Renew, current owner of the 2314 South Hanna Street property, in partnership with Women's Enterprise and Tower Bank, will select five to ten participants (semi-finalists) that will be identified through an application process. Applications will be distributed through various marketing mediums and be available at all three partnership locations. Two information sessions will be held to field anticipated interest in the program. Participants selected through the application process will be required to take the 12-week business-development workshop offered by Women's Enterprise. Scholarships to attend the workshop will be available on an as needed basis.

A Community Business Opportunity -- 2004 Timetable

April 25-May 24:  Education/Awareness sessions with Centers of Influence.

May 25:  Announcement/News Conference

June 15:  Informational Session with prospective applicants (Q & A) 5:30 p.m. at the Fort Wayne Women's Bureau

June 29:  Informational Session with prospective applicants (Q & A) 5:30 p.m. at the Fort Wayne Women's Bureau

July 25:  Application Deadline

August 25:  Announcement of 5-10 Semi-finalists

September 13:  12-Week Business Development Workshop

2005-2008 Anticipated Milestones

February 1, 2005:  Finalist announced

Summer, 2005:  Property ready for occupancy

Six-month intervals:  Review of the business plan?s progress, mentoring and Counseling

On or before the Summer, 2008:  Fully operational and sustainable business

Ongoing program evaluation will determine the timing and feasibility of the next Community Business Opportunity.

Program Heritage

"A Community Business Opportunity" was the brainchild of Nicole Turner-Abrahams (Executive Director, Project Renew). Nicole turned to Jane Flint (First Vice President, Tower Bank) and Leslie Alford (Director, Women's Enterprise) to round out the program. The three joined forces in 2003 to discuss how the property at 2314 South Hanna could be revitalized to meet the needs of the surrounding community. Step-by-step processes and other marketing began in January of 2004.

Mission/Vision/Bio of Partners

Project Renew

Mission:  To revitalize neighborhoods, provide opportunities for quality affordable housing, and support community and economic development opportunities throughout the region.

Tower Bank

Vision:  To make a positive impact in our community.

Mission:  Tower Bank is passionate about serving our team members, customers, community and shareholders with integrity, respect, understanding and appreciation; if we do that, the rest will follow.

Background:  Tower Bank & Trust Company was founded on February 19, 1999 in the historic Lincoln Tower in downtown Fort Wayne. The bank has five offices in Fort Wayne and recently celebrated its fifth anniversary. As the only bank in this community expressly created to serve its community, Tower is a publicly held bank headquartered in Fort Wayne, Indiana and provides a wide variety of bank, mortgage and trust services to businesses and consumers located in northeast Indiana.

Tower Bank's holding company is Tower Financial Corporation and its common stock is listed on the Nasdaq National Market under the symbol "TOFC." As of December 31, 2003 the holding company reported assets in excess of $436 million and an additional $312 million in assets under management in the Trust area.