Press Release
Approval of the Notice by Adirondack Bancorp
June 24, 1996

NEW YORK - The Federal Reserve Bank of New York Mondayannounced that it has no objection to the notice by Adirondack Bancorp, Saranac Lake, N.Y., to become a bank holdingcompany with respect to Adirondack Bank, NA, Saranac Lake, N.Y..

The Reserve bank acted under authority delegated by the Board of Governors of the Federal Reserve System.