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Exhibit 99.1
[SILICON VALLEY BANCSHARES LOGO]
SILICON VALLEY BANCSHARES 3003 Tasman Drive Santa Clara, CA 95054
For immediate release Contact:
June 14, 2000 Lisa Bertolet
Investor Relations
(408) 654-7282
NASDAQ: SIVB Andrea McGhee
Corporate Communications
(408) 654-3078
SILICON VALLEY BANCSHARES
ANNOUNCES REMOVAL OF MEMORANDUM OF UNDERSTANDING
SANTA CLARA, CA, -- Silicon Valley Bancshares (the "Company"), parent
company of Silicon Valley Bank (the "Bank"), today announced that the Federal
Reserve Bank of San Francisco and the California Department of Financial
Institutions have removed the memorandum of understanding the Bank has been
under for approximately the past nine months.
"This action is the result of some extremely hard work and diligence on the
part of our employees, management and the Board," said John C. Dean, President
and Chief Executive Officer.
Silicon Valley Bank serves emerging growth and middle-market companies in
targeted niches, focusing on the technology and life sciences industries, while
also identifying and capitalizing on opportunities to serve companies in other
industries whose financial services needs the Bank believes are underserved.
The Bank operates offices throughout the Silicon Valley: Santa Clara, Palo
Alto and Sand Hill, the center of the venture capital community in California.
Other regional offices within California include: Irvine, Los Angeles, Napa
Valley, San Diego, San Francisco, Santa Barbara, and Sonoma. Office locations
outside of California include: Phoenix, Arizona; Boulder, Colorado; Atlanta,
Georgia;
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Chicago, Illinois; Boston, Massachusetts; Minneapolis, Minnesota; Durham, North
Carolina; Portland, Oregon; Philadelphia, Pennsylvania; Austin, Texas; Dallas,
Texas; Northern Virginia; and Seattle, Washington.
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