Middlefield Bancorp announces change to an investment fund and change in fiscal year end

TORONTO, Nov. 2, 2011 /CNW/ - MIDDLEFIELD BANCORP LIMITED ("MBN") is pleased to announce that it has become an investment fund governed by National Instrument 81-106 effective October 31, 2011.  The Toronto Stock Exchange has confirmed that MBN will retain its listing subsequent to this change and will continue to trade under the symbol "MBN".

In addition, pursuant to MBN's amalgamation on October 12, 2011, MBN has changed its fiscal year end from October 31 to December 31 to be consistent with Middlefield's other investment funds.  As a result, MBN's 2011 fiscal year end will be comprised of the 14 month period from November 1, 2010 to December 31, 2011.

As an investment fund, MBN will no longer report its financial results to shareholders on a quarterly basis and instead will report annually and semi-annually.  MBN has appointed Middlefield Limited as its registered investment fund manager (the "Manager") and Middlefield Capital Corporation as its registered advisor. The Manager has appointed Bernard I. Ghert (Chair), George S. Dembroski and H. Roger Garland as members of the Independent Review Committee for MBN.

The directors and officers of MBN effective October 31, 2011 are as follows:

W. Garth Jestley 
Dean Orrico  
Dennis da Silva  
Richard L. Faiella 
Sylvia V. Stinson 
Chairman, Chief Executive Officer and Director
President and Director

MBN trades on the Toronto Stock Exchange under the symbol "MBN".

SOURCE Middlefield Bancorp Limited

For further information:

visit our website at www.middlefield.com or contact:

W. Garth Jestley
Chairman and Chief Executive Officer
(416) 847-5346

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Middlefield Bancorp Limited

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