Hudson Valley Holding Corp. Announces Stock Repurchase Program

Griffin, noting the continued strong financial performance of the Company,said the Board increased the per share repurchase price by $0.75 to $56.75.

Hudson Valley Holding Corp. (HUVL), headquartered in Yonkers, NY, is theparent company of two independently owned local banks, Hudson Valley Bank(HVB) and NYNB Bank (NYNB). Hudson Valley Bank is a Westchester based bankwith more than $2 billion in assets, serving the metropolitan area with 22branches located in Westchester, Rockland, the Bronx, Manhattan and Queens.HVB specializes in providing a full range of financial services to businesses,professional services firms, not-for-profit organizations and individuals; andprovides investment management services through a subsidiary, A. R. Schmeidler& Co., Inc. NYNB Bank is a Bronx based bank with approximately $140 millionin assets serving the local communities of the South Bronx, Upper Manhattanand Roosevelt Island with five branches. NYNB provides a full range offinancial services to individuals, small businesses and not-for-profitorganizations in its local markets. Hudson Valley Holding Corp.'s stock istraded under the ticker symbol "HUVL" on the OTC Bulletin Board. Additionalinformation on Hudson Valley Bank and NYNB Bank can be obtained on theirrespective web-sites at and .

This press release contains forward-looking statements made pursuant tothe safe harbor provisions of the Private Securities Litigation Reform Act of1995. These statements refer to future events or our future financialperformance. We have attempted to identify forward-looking statements byterminology including "anticipates," "believes," "can," "continue," "could,""estimates," "expects," "intends," "may," "plans," "potential," "predicts,""should" or "will" or the negative of these terms or other comparableterminology. These statements are only predictions and involve known andunknown risks, uncertainties and other factors that may cause our or thebanking industry's actual results, level of activity, performance orachievements to be materially different from any future results, level ofactivity, performance or achievements expressed or implied by these forward-looking statements. Factors that may cause actual results to differ materiallyfrom those contemplated by such forward-looking statements include, but arenot limited to, material adverse changes in the Company's operations orearnings, or a decline in the economy in the New York Metropolitan area.Although we believe that the expectations reflected in the forward-lookingstatements are reasonable, we cannot guarantee future results, levels ofactivity, performance or achievements.