Nara Bancorp Completes the Acquisition of Branch in New Jersey

Nara Bancorp, Inc. (NASDAQ: NARA) today announced that on February 29, 2008, its wholly owned subsidiary Nara Bank completed the acquisition of a branch located in Brick Township, Ocean County, New Jersey from a New Jersey-based financial institution. This transaction consisted of Nara Bancorp receiving cash and certain fixed assets, and assuming approximately $3.0 million in deposits. "I am very happy that we completed the acquisition of a branch in New Jersey. This transaction will provide us great opportunities to expand our presence in New Jersey where the Korean-American community is growing rapidly. It will also augment our New York branches, as well as our existing loan production office in Bergen County, New Jersey. We see this acquisition as our initial step in expanding our presence in the New York-New Jersey region in 2008,” said Min Kim, President and Chief Executive Officer of Nara Bancorp. About Nara Bancorp, Inc. Nara Bancorp, Inc. is the parent company of Nara Bank, which was founded in 1989. Nara Bank is a full-service community bank headquartered in Los Angeles, with 19 branches and 8 loan production offices in the United States. Nara Bank operates full-service branches in California and New York, with loan production offices in California, Washington, Texas, Georgia, New Jersey, and Virginia. Nara Bank was founded specifically to serve the needs of Korean-Americans, one of the fastest-growing Asian ethnic communities over the past decade. Presently, Nara Bank serves a diverse group of customers mirroring its communities. Nara Bank specializes in core business banking products for small and medium-sized companies, with emphasis in commercial real estate and business lending, SBA lending and international trade financing. Nara Bank is a member of the FDIC and is an Equal Opportunity Lender. For more information on Nara Bank, visit our website at www.narabank.com. Nara Bancorp, Inc. stock is listed on Nasdaq under the symbol "NARA”. Forward-Looking Statements This press release contains forward-looking statements, including statements about future operations, that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward looking statements, including, but not limited to economic, competitive, governmental and technological factors affecting the Company’s operations, markets, products, services, and pricing. Readers should carefully review the risk factors and the information that could materially affect the Company’s financial results and business, described in documents the Company files from time to time with the Securities and Exchange Commission, including its quarterly reports on Form 10-Q and Annual Reports on Form 10-K. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements.