StellarOne's President Comments On Recent Stock Transaction

CHARLOTTESVILLE, Va., April 7, 2009 (GLOBE NEWSWIRE) -- StellarOne Corporation
(Nasdaq:STEL) (StellarOne) today announced that on March 9, 2009, O. R. Barham,
Jr., President and Chief Executive Officer of StellarOne Corporation, sold 5,510
shares of StellarOne common stock. Mr. Barham's decision to sell the shares was
based upon his existing financial and retirement planning goals, as well as a
desire to diversify his portfolio. All sold shares were held in Mr. Barham's IRA
account.

"Given my sizeable derivative ownership position in StellarOne stock in the form
of unexercised options, I felt a need to attain some further diversification and
liquidity," said Mr. Barham. "My enthusiasm and confidence in the Company's
future is as strong as it has ever been, and I plan to remain with and continue
my investment in the Company."

Mr. Barham retains derivative ownership via vested and exercisable stock options
of approximately 91,708 shares of StellarOne stock, and an additional 40,484
stock options are currently not vested.

About StellarOne

StellarOne Corporation is a traditional community bank, offering a full range of
business and consumer banking services, including trust and wealth management
services. Through the activities of its sole affiliate, StellarOne Bank,
StellarOne operates 61 full-service financial centers, one loan production
office, and 66 ATMs serving the New River Valley, Roanoke Valley, Shenandoah
Valley, and Central and North Central Virginia.

Forward-Looking Statements

In addition to historical information, this press release contains
forward-looking statements. The forward-looking statements are subject to
certain risks and uncertainties, which could cause actual results to differ
materially from historical results or those anticipated. When we use words such
as "believes," "expects," "anticipates" or similar expressions, we are making
forward-looking statements. Readers are cautioned not to place undue reliance on
these forward-looking statements, which reflect management's analysis only as of
the date thereof. StellarOne wishes to caution the reader that factors, such as
those listed below, in some cases have affected and could affect StellarOne's
actual results, causing actual results to differ materially from those in any
forward-looking statement. These factors include: (i) expected cost savings from
StellarOne's acquisitions and dispositions may be less than projected, (ii)
competitive pressure in the banking industry or in StellarOne's markets may
increase significantly, (iii) changes in the interest rate environment may
reduce margins, (iv) general economic conditions, either nationally or
regionally, may be less favorable than expected, resulting in, among other
things, credit quality deterioration, (v) changes may occur in banking
legislation and regulation, (vi) changes may occur in general business
conditions, and (vii) changes may occur in the securities markets. Please refer
to StellarOne's filings with the Securities and Exchange Commission for
additional information, which may be accessed at www.StellarOne.com.

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CONTACT: Jeffrey W. Farrar, Executive Vice President and
Chief Financial Officer of StellarOne Corporation
(434) 964-2217
jfarrar@stellarone.com