Mutual Bancorp of the Berkshires, MHC, the Mutual Holding Company for Legacy Banks, to Convert to Stock Form of Organization.

PITTSFIELD, Mass. -- Mutual Bancorp of the Berkshires, MHC, the mutual holding company for Legacy Banks, announced today that its Board of Trustees unanimously adopted a Plan of Conversion and Reorganization (the "Plan"). Pursuant to the Plan adopted on May 25, 2005, Mutual Bancorp of the Berkshires will convert from the mutual to stock form of organization and will form a new Delaware-chartered holding company to acquire all of the stock of Legacy Banks.

J. Williar Dunlaevy, Chief Executive Officer and Chairman of the Board of Mutual Bancorp of the Berkshire, MHC, and Legacy Banks, stated, "the Board of Trustees today took this action after much deliberation and, along with management, looks forward to our conversion into the fully stock holding company form of organization and related public stock offering. As described in the Plan of Conversion and Reorganization, this structure will permit the Bank to continue to grow its lending and investment activities."

The Plan of Conversion and Reorganization is subject to regulatory approval and the approval of Corporators. Mutual Bancorp of the Berkshires expects to file the necessary applications with the regulators promptly.

During the reorganization process, the business of Legacy Banks will continue normally and without interruption. Depositors will continue to hold accounts in Legacy Banks identical as to dollar amount, rate of return and general terms in effect immediately prior to the consummation of the conversion and reorganization and such accounts will continue to be insured by the Federal Deposit Insurance Corporation to the fullest extent permissible by law. Any amounts over such limit will be insured in full by the Deposit Insurance Fund. Similarly, the reorganization will not affect the existing terms or conditions of borrowers' loans with Legacy Banks.

Lord, Bissell & Brook LLP will serve as Legacy Banks' conversion and reorganization counsel. The offering will be made only by means of a prospectus in accordance with the Securities Act of 1933, as amended, and all applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities.

Legacy Banks is a Massachusetts state-chartered savings bank headquartered in Pittsfield, Massachusetts. At December 31, 2004, Legacy Banks had assets of $693.0 million and deposits of $469.2 million. Legacy Banks is a community oriented financial institution offering traditional financial services within its local communities through its main office and nine branch offices located in Berkshire County, Massachusetts.

This press release contains certain forward-looking statements about the transaction. Forward-looking statements include statements regarding the market for the stock and anticipated future results and can be identified by the fact that they do not relate strictly to historical or current facts. Certain factors that could cause actual results to differ materially from expected results include delays in consummation of The Plan of Conversion and Reorganization, difficulties in selling the common stock or in selling the common stock within the expected time frame, increased competitive pressures, changes in the interest rate environment, general economic conditions or conditions within the securities markets, and legislative and regulatory changes that could adversely affect the businesses in which the Bank is engaged.