Press Release

Approval of the Application by Trustcompany Bancorp

Wednesday, October 1, 2003

NEW YORK--The Federal Reserve Bank of New York Wednesday approved the application by Trustcompany Bancorp to become a bank holding company with respect to The Trust Company of New Jersey, both of Jersey City, New Jersey.

According to standard procedure, the proposal cannot be completed for 15 days.

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