STB Claymore Sabrient Stealth (Intraday Indictive Value)

State Bancorp, Inc., parent company of State Bank of Long Island, announced that is has filed Form 8-K reporting that it has terminated the services of Deloitte and Touche LLP ("Deloitte") as the Company's independent registered public accounting firm. The reports of Deloitte on the financial statements of the Company for each of the past two fiscal years contained no adverse opinion or disclaimer of opinion and were not qualified or modified as to uncertainty, audit scope or accounting principle. During the Company's two most recent fiscal years and through August 12, 2005, there have been no reportable disagreements with Deloitte on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. The Company's filing also reported that the Company has engaged Crowe Chizek and Company LLC ("Crowe Chizek") as the Company's independent auditors with respect to the audit of the Company's financial statements for the fiscal year end December 31, 2005. State Bancorp, Inc. (Amex: STB), is the holding company for State Bank of Long Island, the largest independent commercial bank headquartered in Nassau County. In addition to its fifteen branch locations throughout Nassau, Suffolk and Queens Counties, the Bank owns Jericho, N.Y.-based Studebaker-Worthington Leasing Corp., a nationwide provider of business equipment leasing. The Bank also maintains a lending facility in Jericho and has two subsidiaries based in Wilmington, Delaware, which provide investment and balance sheet management services to the Bank. State Bancorp, Inc. has a consistent track record of measured, orderly growth, and has built a reputation for providing high-quality personal service to meet the needs of commercial, small business, municipal and consumer markets throughout the tri-county area. The Company maintains a World Wide Web site at www.statebankofli.com with corporate, investor and branch banking information.