William E. Griffin, Chairman of the Board, has announced that Alfredo Assad has been named President and a Director of New York National Bank.

Mr. Assad is a financial services professional with more than 22 years of experience in domestic and international commercial and investment banking. Most recently a Vice President of Banco Popular North America's community lending and real estate finance team, he was responsible for sourcing, structuring and underwriting loan transactions throughout the tri-state area.

Prior to Banco Popular, he was President of Promesa Enterprises, Ltd., a Bronx based economic development organization and Vice President for Credit Communal de Belgique in New York City, where he managed over $2 billion in proprietary and client investment portfolios for the Belgium based, $200 billion commercial bank. Mr. Assad's background includes consulting experience ranging from international business strategies for Fortune 500 companies to advising the City of Yonkers' Department of Planning and Development on economic development. He has also held positions with Morgan Stanley, UBS Securities and the Federal Home Loan Bank of New York.

Mr. Assad holds a Bachelor of Arts from Harvard College and a Master of Business Administration from Columbia University's Graduate School of Business. He is a member of the National Society of Hispanic MBAs and a former member of the Boards of Promesa and Jobs for Youth. Mr. Assad was born in New York City, where he currently resides, and raised in the Bronx.

"Alfredo brings a wealth and depth of experience to New York National Bank," Mr. Griffin said. "He is a proven team leader with vast corporate, finance and credit expertise that we believe will be the right fit to help grow the Bank. We look forward to working with him to meet the banking needs of our customers and the communities we serve." James J. Landy will remain New York National Bank's Chief Executive Officer (CEO) and a Director.

New York National Bank (NYNB) is a Bronx based bank with approximately $140 million in assets serving the local communities of the South Bronx, Upper Manhattan and Roosevelt Island with five branches. NYNB provides a full range of financial services to individuals, small businesses and not-for-profit organizations in its local markets. NYNB is a wholly owned subsidiary of Hudson Valley Holding Corp., parent company of Hudson Valley Bank. Hudson Valley Holding Corp's stock is traded under the ticker symbol "HUVL" on the OTC Bulletin Board. Additional information on New York National Bank can be obtained on their web-site at .

This press release contains forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements refer to future events or our future financial performance. We have attempted to identify forward-looking statements by terminology including "anticipates," "believes," "can," "continue," "could,"
"estimates," "expects," "intends," "may," "plans," "potential," "predicts," "should" or "will" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors that may cause our or the banking industry's actual results, level of activity, performance or achievements to be materially different from any future results, level of activity, performance or achievements expressed or implied by these forward- looking statements. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, but are not limited to, material adverse changes in the Company's operations or earnings, or a decline in the economy in the New York Metropolitan area. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements.

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