StellarOne Corporation (Nasdaq: STEL) announced Friday that it anticipates joining the broad market Russell 3000 Index when Russell Investments reconstitutes its comprehensive set of U.S. and global equity indexes on June 27, 2008, according to a preliminary list of additions posted on June 13, 2008 on russell.com.

Annual reconstitution of Russell's U.S. indexes captures the 4000 largest U.S. stocks as of the end of May, ranking them by market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in either the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value indexes. Russell determines membership for its equity indexes primarily by objective, market capitalization rankings and style attributes.

"We are excited to return to the Russell 3000 Index," commented O.R. Barham, Jr., President and Chief Executive Officer. "It is an honor to be included with such an impressive list of public companies, and it is a testament to our shareholders and the communities we serve."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4.4 trillion in assets currently are benchmarked to them. For more information on Russell indexes, go to www.russell.com.

About StellarOne Corporation

StellarOne Corporation, with total assets of $3.1 billion as of March 31, 2008, is the largest community bank based in the Commonwealth of Virginia, offering a full range of business and consumer banking services, including trust and asset management services. StellarOne Corporation operates 64 full-service branches, 4 loan production offices, and over 80 ATMs serving the New River Valley, Roanoke Valley, Shenandoah Valley, and Central and North Central Virginia. For more information on the Company, please refer to www.stellarone.com.

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