[LETTERHEAD OF PRICEWATERHOUSECOOPERS LLP]
October 5, 2000
Cooperative Bankshares, Inc.
Corporate Headquarters
201 Market Street
P.O. Box 600
Wilmington, N.C. 28042
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Commissioners:
We have read the statements made by Cooperative Bankshares, Inc. (copy
attached), which we understand was filed with the Commission, pursuant to Item 4
of Form 8-KA, as part of the Company's Form 8-K report dated September 21, 2000.
We agree with the statements concerning our Firm in such Form 8-KA.
Very truly yours,
/s/ PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
