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BRIAN DITTENHAFER TO JOIN COLLECTIVE FEDERAL SAVINGS

 BRIAN DITTENHAFER TO JOIN COLLECTIVE FEDERAL SAVINGS
 EGG HARBOR CITY, N.J., Aug. 11 /PRNewswire/ -- Brian Dittenhafer


will become president of Collective Federal Savings Bank, it was announced today by Thomas H. Hamilton, president and chief executive officer of Collective Bancorp, Inc. (NASDAQ-NMS: COFD).
 Collective Federal, with $2.5 billion in assets, is the federal savings bank subsidiary of Collective Bancorp, Inc.
 Dittenhafer will join Collective following seven years as president of the Federal Home Loan Bank of New York. During his 16-year tenure with the bank, he also held the positions of vice president and chief economist, senior vice president, chief financial officer and executive vice president before becoming president in 1985. Dittenhafer also previously served as economist for the Federal Reserve Bank of Atlanta. He will fill the post currently held by Edward J. McColgan who is being elevated to the position of vice chairman and chief operating officer of Collective Federal.
 Commenting on the announcement, Hamilton said, "We are extremely pleased to add someone of Mr. Dittenhafer's caliber to our organization. His extensive background in economics and financial administration will add depth to our already solid management team and will help position Collective Federal for even greater growth and success in the future," Hamilton added.
 A graduate of Ursinus College, Dittenhafer also holds a master's degree in economics from Temple University.
 /delval/
 -0- 8/11/92
 /CONTACT: Scott Page of Collective Bancorp, 609-625-1110/ CO: Collective Federal Savings Bank; Collective Bancorp, Inc. ST: New Jersey IN: FIN SU: PER


MJ-MK -- PH024 -- 9098 08/11/92 16:10 EDT
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Date:Aug 11, 1992
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