Sandy Spring Bancorp Repurchases Warrant From the U.S. Treasury

Sandy Spring Bancorp, Inc. SASR, parent company of Sandy Spring Bank, today announced that it has repurchased the warrant issued to the U.S. Department of the Treasury on December 5, 2008 in connection with Bancorp's participation in the TARP Capital Purchase Program. The 10-year warrant entitled the Treasury to purchase up to 651,547 shares at an exercise price of $19.13. Bancorp paid $4,450,000 for its repurchase.