Vineyard National Bancorp Announces Further Information in Connection With the Filing of Its Form 10-K

CORONA, CA -- (MARKET WIRE) -- 04/02/08 -- The Board of Directors of Vineyard National Bancorp (the "Company") (NASDAQ: VNBC), parent company of Vineyard Bank, N.A. ("Vineyard") and other subsidiaries, today announced that it is in the process of finalizing its Annual Report on Form 10-K for the year ended December 31, 2007 (the "Annual Report").

As previously disclosed in its Notification of Late Filing on Form 12b-25 filed with the Securities and Exchange Commission on March 18, 2008, the Company was delayed in filing its Annual Report because of an ongoing review and assessment by the Company's Audit Committee regarding the nature, scope and circumstances of certain internal violations of security policies, procedures and controls concerning the Company's Information Technology function, and the impact, if any, of such violations on the Company's Internal Audit function (the "IT Review").

In addition to the IT Review, the Company is also in the process of completing an extended evaluation of Vineyard's allowance for loan losses and related matters, which may result in changes to the previously announced results for the year ended December 31, 2007. The Company believes that the review of its financial statements may also result in the determination that deficiencies may exist in the Company's internal controls. The ongoing reviews and assessments of these matters have delayed the completion of the Company's Annual Report. The Company intends to file its Annual Report as soon as practicable following completion of these reviews and assessments. Management continues to discuss these matters with the Company's independent auditors.

About Vineyard National Bancorp

The Company is a $2.5 billion financial holding company headquartered in Corona and the parent company of Vineyard, 1031 Exchange Advantage Inc., and 1031 Funding & Reverse Corp. (collectively, "the exchange companies"). Vineyard, also headquartered in Corona, operates through 16 full-service banking centers and three regional financial centers in the counties of Los Angeles, Marin, Orange, Riverside, San Bernardino, San Diego, Santa Clara and Ventura, CA. The exchange companies are headquartered in Encinitas, CA. The Company's common stock is traded on the NASDAQ Global Market System under the symbol "VNBC." For additional information on the Company visit www.vnbcstock.com or for additional information on Vineyard and to access internet banking, please visit www.vineyardbank.com. For additional information on the exchange companies visit www.1031exchangeadvantage.com.

Forward-Looking Statements

Certain matters discussed herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and could impact the Company and the statements contained herein can be found in the Company's filings with the SEC including quarterly reports on Form 10-Q, current reports on Form 8-K, annual reports on Form 10-K, and the Consent Revocation Statement on Schedule 14A. For forward-looking statements herein, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and other protections under the Federal securities laws. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=730673

2008-04-02 18:50:23 0326923 MARKETWIRE