United Western Bancorp, Inc. Names Paul E. Maxwell Chief Executive Officer of Sterling Trust Company

United Western Bancorp, Inc. (NASDAQ:UWBK), a Denver-based holding company whose principal subsidiary is United Western Bank®, announced today that Paul E. Maxwell has been appointed to the position of chief executive officer of Sterling Trust Company, its administrative trust subsidiary, effective October 1, 2008.

Prior to joining Sterling Trust Company, Maxwell was executive vice president and chief operating officer of Trust Administration Services of Carlsbad, Calif., where he spent nine years. Maxwell brings more than 25 years' experience in trust company management to the Company. He has published several articles which have appeared in notable publications such as CPA Wealth Advisor, Accounting Web, and American Cash Flow Journal. Mr. Maxwell has been President of the Retirement Industry Trust Association (RITA) since 2006. He is a member of several other professional associations, including the Association of Independent Trust Companies (AITCO) and The American Society of Pension Professionals and Actuaries (ASPPA).

Maxwell will replace Paul Skretny, who has headed Sterling Trust since 1993 and will be stepping down as chief executive officer of Sterling Trust. Mr. Skretny will continue serving Sterling Trust as an advisor.

Michael J. McCloskey, the Company’s chief operating officer, stated: "Paul Skretny made an invaluable contribution to Sterling Trust over 15 years. We wish him and his wife, Marg, the very best in their new endeavors.” Mr. McCloskey also commented on Paul Maxwell, saying, "We welcome Paul Maxwell as the new CEO of Sterling Trust and look forward to his insights and unique perspectives on the trust business.”

Maxwell, 52, resides in Littleton, Colorado, with his wife and four children. He earned his Bachelor of Business Administration degree from the Texas Tech University, and attended the Wharton School of Management in Philadelphia, where he obtained his designation as a Certified Employee Benefit Specialist. In addition, he earned his Chartered Estate Planning Practitioner designation from the Estate Planning Institute.

About United Western Bancorp

Denver-based United Western Bancorp, Inc. is focused on developing its community-based banking network through its subsidiary, United Western Bank®, by strategically positioning branches across Colorado’s Front Range market and certain mountain communities. The area spans the eastern slope of the Rocky Mountains – from Pueblo to Fort Collins, and from metropolitan Denver to the Roaring Fork Valley. United Western Bank plans to grow its network to an estimated ten to 12 community bank locations over the next three to five years. In addition to community-based banking, United Western Bancorp and its subsidiaries offer deposit services to institutional customers and custodial and administration services through Sterling Trust Company. For more information, please visit our web site at www.uwbancorp.com.

Forward Looking Statement

This press release contains "forward-looking statements” that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to significant risks and uncertainties. Forward-looking statements include information concerning our future results, interest rates, loan and deposit growth, operations, development and growth of our community bank network and our business strategy. Forward-looking statements sometimes include terminology such as "may,” "will,” "expects,” "anticipates,” "predicts,” "believes,” "plans,” "estimates,” "potential,” "projects,” "intends,” "should” or "continue” or the negative thereof or other variations thereon or comparable terminology. However, a statement may still be forward looking even if it does not contain one of these terms. As you consider forward-looking statements, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions that could cause actual performance or results to differ materially from those in the forward-looking statements These factors include, but are not limited to: the successful implementation of our community banking strategies and growth plans; the timing of regulatory approvals or consents for new branches or other contemplated actions; the availability of suitable and desirable locations for additional branches; the continuing strength of our existing business, which may be affected by various factors, including but not limited to interest rate fluctuations, level of delinquencies, defaults and prepayments, general economic conditions, competition, legal and regulatory developments, and future additional risks and uncertainties currently unknown to us. Additional information concerning these and other factors that may cause actual results to differ materially from those anticipated in forward-looking statements is contained in the "Risk Factors” section of the Company’s Annual Report on Form 10-K for the year ended December 31, 2007 and in the Company’s other periodic reports and filings with the Securities and Exchange Commission. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release.

Any forward-looking statements made by the Company speak only as of the date on which the statements are made and are based on information known to us at that time. We do not intend to update or revise the forward-looking statements made in this press release after the date on which they are made to reflect subsequent events or circumstances, except as required by law.