Millennium Bankshares (MBVA)

Stock Ownership of Directors

Under our Bylaws, we expect our directors to own at least 1,000 shares of Millennium common stock, and such shares must be unpledged and unencumbered throughout the full term of their service. Our Corporate Governance Guidelines further define share ownership. A director may take up to two years from the date of election or appointment to acquire the shares. In addition, directors may own a combination of common stock and fully vested stock options to satisfy this requirement. All directors currently own at least 1,000 shares of Millennium stock or a combination of stock and stock options, except Mr. Wolfe, who has until May 2009 to acquire stock. He presently owns well in excess of 1,000 fully exercisable stock options.

Stock Ownership of Directors

Under our Corporate Governance Guidelines, we expect our directors to own at least 1,000 shares of MBVA common stock within two years after their initial election or appointment and to continue to own such shares throughout the full term of their service. Directors may own a combination of common stock and fully vested stock options to satisfy this requirement. All directors currently own at least 1,000 shares of MBVA stock or a combination of stock and stock options, except for Mr. Harvey, who has up to two years from the date of his election on September 28, 2006, to meet the stock ownership requirement. Nominees Randall H. Kinoshita and James W. Wolfe do not own shares in their own names at this time.

Stock Ownership of Directors

Under our Corporate Governance Guidelines, we expect our directors to own at least 1,000 shares of MBVA common stock within one year after initial election or appointment and to continue to own such shares throughout the full term of their service. Directors may own a combination of common stock and fully vested stock options to satisfy this requirement.