CORUS BANKSHARES, INC.

Summary of Case: A securities class action has been filed against Corus Bankshares, Inc. (Ticker: CORS) ("Corus" or the "Company") on behalf of all securities purchasers from January 25, 2008 through January 30, 2009 (Class Period) in the United States District Court for the Northern District of Illinois.  The deadline to file for Lead Plaintiff is May 11, 2009.

The complaint alleges that the representations contained in Corus' press releases, SEC filings, conference calls, and presentations during the Class Period were materially false and misleading when made because they failed to disclose: (i) that Corus was failing to recognize losses on its condominium loans in accordance with generally accepted accounting principles ("GAAP"); (ii) that Corus and/or its affiliates was purchasing condominiums in developments Corus had financed in an attempt to: (a) inflate the appraised values of condominiums to delay having to recognize losses on financing for such condominiums; (b) inflate developers' sales figures to increase the likelihood of successful future sales; and (c) create the illusion of successful sales histories in order to inflate appraisal values for the condominiums to ensure inflated future prices for the condominiums; and (iii) that Corus was involved in detailed and in-depth negotiations with the Federal Reserve Bank of Chicago and the Office of the Comptroller of Currency regarding its deteriorating pool of condominium loans.   On January 30, 2009, Corus released partial financial results for fiscal 2008 and stated that "Corus is suffering from the extraordinary effects of what may ultimately be the worst economic downturn since the Great Depression." Upon this announcement, shares fell nearly 47% to close at $.59 per share on February 2, 2009, on heavy trading volume in excess of two million shares.