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2004 Press Releases

MEDIA ADVISORY

Contact: Neil Cotiaux, 330-703-0753 or 412/288-2851,
neil.cotiaux@fhlb-pgh.com

REP. HART, FHLBANK PRESIDENT TO DISBURSE MORE THAN HALF-MILLION DOLLARS FOR 168 UNITS OF AFFORDABLE,
LOW-INCOME HOUSING IN WESTERN PENNSYLVANIA

PITTSBURGH, PA, July 27, 2004 — U.S. Rep. Melissa Hart (PA-4), and James D. Roy, president and chief executive officer of the Federal Home Loan Bank of Pittsburgh, along with representatives of housing advocacy groups, will gather at the Rochester campus of Hosanna Industries, Inc., at 11 a.m. Tuesday, August 10, to announce funding for 168 affordable housing units across western Pennsylvania.

The 168 units encompass new construction, rehabilitation activity, homes for purchase and rentals planned to serve a variety of very-low- to moderate-income individuals in Aliquippa, Freedom, Midland, New Castle and Rochester. A total of $538,000 — part of $4.8 million in affordable housing grants set aside in June by the FHLBank of Pittsburgh — will be presented to five community organizations. The event's host, Hosanna Industries, is a leader in the field of "blitz-building" affordable housing for low-income, elderly, physically and mentally challenged, and homeless persons.

Rep. Hart and FHLBank president Roy are scheduled to make remarks prior to the distribution of checks to the following groups: Hosanna Industries, Inc.; Habitat for Humanity of Beaver County; Life and Liberty, Inc.; the Lawrence County Housing Authority; and Human Services Center of New Castle. Initial funding to be received August 10 officially sets the stage for the projects, which carry total development costs of $4.9 million.

Editors: Details on each of the projects will be available onsite the day of the event. In addition, phone interviews may be arranged prior to/day of the event. Contact Lee Cohen, press secretary to Rep. Melissa Hart,
at (202-225-2565. For comment from FHLBank president Roy or representatives of any of the participating housing advocacy groups, contact Neil Cotiaux, FHLBank of Pittsburgh, at 330-703-0753 (cell) or 412-288-2851.

Directions: From I-79 North, take Exit 76 at Cranberry. Follow Route 19 North. Turn left at Rochester Road. Turn right onto 989 North. Go left at the "Y" onto Big Knob Road, then right onto Miller Road. Turn left onto Rinard Lane. End at Hosanna Industries campus, 109 Rinard Lane, Rochester. Telephone: 724-770-0262.

From I-76 Eastbound: Take Exit 28 at Cranberry. Follow Route 19 North and the remainder of the directions above.

The Federal Home Loan Bank of Pittsburgh, with assets of more than
$57 billion, serves nearly 350 financial institution members in Delaware, Pennsylvania and West Virginia. It is one of twelve FHLBanks, all private cooperatively owned banks that provide wholesale housing finance, community lending and correspondent banking services to member banks, savings institutions, credit unions and insurance companies.