Community Bank of Orange Initiates Investment Program Offering Mutual Funds, Annuities and Life Insurance Products Through Investors Marketplace; Appoints an Investment Executive to Oversee the Program.

MIDDLETOWN, N.Y. -- Ronald J. Gentile, President and CEO of Community Bank of Orange, N.A. (CBOG.PK) (the "Bank"), announced today that the Bank has added investment products to the existing line of services it offers to its customers throughout the Mid-Hudson Valley. Through Investors Marketplace, a service of Essex National Securities, Inc., member NASD/SIPC, and Essex National Insurance Agency, Bank customers will have access to mutual funds, tax-deferred annuities and life insurance products. Essex National Securities, Inc. offers securities products, while insurance products are offered through Essex National Insurance Agency. Neither entity is affiliated with the Bank.

Mr. Gentile also announced the hiring of Ms. Lori Cariffe Coombs and her appointment as the Investment Executive to provide Bank customers with advice to determine the right products for their needs. Mr. Gentile and Ms. Coombs previously worked together in the banking industry. She most recently held the position of Investment Executive at Sleepy Hollow Bank in Tarrytown, New York. She has earned her NASD Series 6, 63 and New York State Life and Health Insurance licenses, and is a Past President of the Dutchess County Association of Life Underwriters; Past Regional Public Relations Chairwoman, Association of Life Underwriters' Recipient of National Sales Achievement Award; and Recipient of a National Quality Award.

Mr. Gentile commented, "Lori has the skills and years of key experience that will benefit our customers as they consider the many available investment and insurance choices. She brings knowledge and understanding of how these products will work best for them. Through our relationship with nationally recognized Essex companies, our customers will have access to a wide selection of mutual funds, annuities and insurance policies."

Anthony Ingrassia, Chairman of the Bank's Board of Directors, said, "We are pleased to offers this new line of products to our customers, to better serve their financial services needs. By adding Lori to our staff, we are hiring a person with over 20 years experience which we believe will be apparent, in terms of the quality of care she will afford our customers."

Community Bank of Orange, headquartered in Middletown, New York, opened for business in October 2002, and is the first bank to open in Orange County in over 50 years and the first ever to open in the Town of Wallkill. Its goal is to provide hometown banking with a personal touch to its local community, and offers to its individual and business customers a variety of banking services and products, including free checking and expanded banking hours. The Bank is chartered by the OCC and its deposits are insured by the Federal Deposit Insurance Corporation.

Note: This press release may contain certain statements which are not historical facts or which concern the Bank's future operations or economic performance and which are considered forward-looking statements. Any such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Bank cautions that all forward-looking statements involve risks and uncertainties, and that actual results may differ materially from those indicated in the forward-looking statements as a result of various factors, such as changing economic and competitive conditions and other risks and uncertainties. In addition, statements in this news release regarding historical stock price performance are not indicative of or guarantees of future price performance.