Dividend Declared by Hampton Roads Bankshares

NORFOLK, Va., July 23, 2008 (PRIME NEWSWIRE) -- The Board of Directors of
Hampton Roads Bankshares, Inc. (Nasdaq:HMPR), the financial holding company for
Bank of Hampton Roads and Shore Bank, declared a quarterly dividend in the
amount of $0.11 per share on the Company's common stock, payable on September
15, 2008, to shareholders of record as of August 15, 2008. This will be the
Company's 27th consecutive dividend payment.

"Over the last few weeks, not a day has gone by that a depositor has not called
to check on the financial stability of our Company. In addition to Bank of
Hampton Roads being awarded a 5 Star Rating by BauerFinancial and a Financial
Safety Rating of A by TheStreet.com, I believe the Board's declaration of this
dividend is one of the strongest messages that we can convey about the safety,
soundness and strength of our organization. Our Company has operated itself in a
manner where it can continue to return value to our shareholders in even the
most turbulent economic times," said Vice Chairman, President and Chief
Executive Officer Jack W. Gibson.

On June 1, 2008, Shore Financial Corporation was merged with and into Hampton
Roads Bankshares. As a result, 2,713,425 new shares of the Company's common
stock were issued to the former Shore shareholders. Even though the dividend
rate per share is consistent with the previous quarter, the total dividend paid
by the Company will increase from $1.1 million to $1.4 million, or 27%, due to
the increase in total outstanding shares.

About Hampton Roads Bankshares

Hampton Roads Bankshares, Inc. is a financial holding company that was formed in
2001 and is headquartered in Norfolk, Virginia. The Company's primary
subsidiaries are Bank of Hampton Roads and Shore Bank. The Banks engage in
general community and commercial banking business, targeting the needs of
individuals and small to medium-sized businesses. Currently, Bank of Hampton
Roads operates 18 banking offices in the Hampton Roads region of southeastern
Virginia and Shore Bank operates 8 banking offices on the Eastern Shore of
Virginia and Maryland. Shares of Hampton Roads Bankshares common stock are
traded on the NASDAQ Global Select Market under the symbol HMPR. Additional
information about the Company and its subsidiaries can be found on the Web at
www.hamptonroadsbanksharesinc.com.

Certain statements in this report may constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are statements that include projections, predictions,
expectations, or beliefs about events or results or otherwise are not statements
of historical facts. Although the Company believes that its expectations with
respect to certain forward-looking statements are based upon reasonable
assumptions within the bounds of its existing knowledge of its business and
operations, there can be no assurance that actual results, performance or
achievements of the Company will not differ materially from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Actual future results and trends may differ materially from
historical results or those anticipated depending on a variety of factors. For
an explanation of the risks and uncertainties associated with forward-looking
statements, please refer to the Company's Annual Report on Form 10-K for the
year ended December 31, 2007, and other reports filed and furnished to the
Securities and Exchange Commission.

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CONTACT: Hampton Roads Bankshares, Inc.
Tiffany K. Glenn, Senior Vice President and
Marketing Officer
(757) 217-1000