Greene County Bancorp, Inc. Announces Management Changes.

CATSKILL, N.Y. -- The Board of Directors of Greene County Bancorp, Inc. (NASDAQ: GCBC), the holding company for The Bank of Greene County, today announced that Mr. J. Bruce Whittaker, its President and Chief Executive Officer since 1987, will be retiring from the Company and the Bank on June 30, 2007. Mr. Donald Gibson, currently Senior Vice President of the Company and the Bank, will succeed Mr. Whittaker as President and Chief Executive Officer upon Mr. Whittaker's retirement. The Board of Directors intends to nominate Mr. Gibson for election to the Boards of Directors of the Company and the Bank at their next annual meetings, which are scheduled for October 2007.

Mr. Gibson joined the Bank in 1987 upon graduation from SUNY-Oneonta, and since 2003 has served as the Bank's Senior Vice President of Commercial and Retail Banking. In addition to his degree from SUNY-Oneonta, Mr. Gibson earned his Master's Degree in Business Administration from the College of St. Rose. He has held a variety of positions with increased responsibility since joining the Bank. He also serves on the Boards of Directors of several local organizations, including Columbia Memorial Hospital and the Greene County Empire Zone Administrative Board, and is a past President of the Greene County Chamber of Commerce.

Mr. Whittaker, who joined the Bank in 1972, will continue to serve as a Director of the Company and the Bank following his retirement.

In a related move, the Board of Directors also announced that Ms. Michelle Plummer, the Chief Financial Officer of the Company and the Bank, was also appointed to the newly created positions of Executive Vice President & Chief Operating Officer. In her new positions, Ms. Plummer will oversee all aspects of operations and internal controls, in addition to her existing role as Chief Financial Officer. Her new appointments also are effective July 1, 2007. Ms. Plummer completed her undergraduate studies at Marist College and earned her Master's Degree in Accounting from Pace University. She is a Certified Public Accountant, and has been with the Company and the Bank since 1999. Ms. Plummer previously held positions at KPMG LLP and The Federal Reserve Bank of New York.

Mr. Whittaker said, "I am grateful for the opportunity to have headed the organization for the past 20 years. I believe that our next generation of management is ready, willing and able to take our organization to new levels of success."

Greene County Bancorp, Inc. is the direct and indirect holding company, respectively, for The Bank of Greene County, a federally chartered savings bank, and Greene County Commercial Bank, a New York-chartered commercial bank, both headquartered in Catskill, New York. The Bank serves Greene and Columbia Counties, and southern Albany County, New York from nine full-service branch locations in Catskill, Cairo, Coxsackie, Greenville, Tannersville, Westerlo, Hudson and Greenport. The Company was organized in 1998 in connection with the mutual holding company reorganization and stock offering of The Bank of Greene County.