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ATTENTION: EDITORS / ASSIGNMENT EDITORS

Contact:
Neil Cotiaux, FHLBank of Pittsburgh, 412-288-2851, cell: 412-335-9488
Trish Reilly-Hudock, press secretary, Rep. Tim Holden, 202-225-5546

CONGRESSMAN HOLDEN, AREA BANKS TO UNVEIL $6 MILLION HOMEBUYERS GRANTS PROGRAM: DOWN PAYMENT, CLOSING COSTS FOR FIRST-TIME HOMEBUYERS IS THE FOCUS

READING, PA, March 16, 2006 — U.S. Rep. Tim Holden (PA-17),
17 area financial institutions and the Federal Home Loan Bank of Pittsburgh (FHLBank) will announce a $6 million grant program to assist lower-income first-time homebuyers at an event in Reading next Tuesday.

Congressman Holden will appear at 10 a.m. Tuesday, March 21, at the Bern Township Municipal Building, 1069 Old Bernville Road in Reading to announce the program, being administered through the following area banks: Bank of Hanover & Trust Company, Bank of Lancaster County, Citizens Bank of Pennsylvania, Commerce Bank N.A., East Penn Bank, Farmers and Merchants Trust Company, Fulton Bank, Keystone Nazareth Bank and Trust, Lebanon Valley Farmers Bank, Leesport Bank, National Penn Bank, Northwest Savings Bank, Pennsylvania State Bank, Phoenixville Federal Savings and Loan Association, PNC Bank, Sovereign Bank and Susquehanna Bank. The FHLBank, area builders, REALTORS© and other community-based groups will also participate in the announcement.

Speakers will include Congressman Holden; Al Boscov, retired chairman, Boscov's department stores and founder of Our City Reading; John Connelly, former chairman of the FHLBank's Board of Directors; and Eric Dickerson, the Bank's deputy director of Community Investment. They will outline the nature and benefits of the new grant program and explain how first-time homebuyers can apply. At least 1,000 first-time homebuyers are expected to be assisted by this new initiative. Following the grants announcement, attendees will participate in a community roundtable on federal housing and community revitalization policy.

Directions

From Downtown Reading: Proceed to US-422 West. Merge onto US-222 North via the left-hand exit. Take the PA-183 exit toward Reading Airport, then the PA-183 North ramp toward Pottsville. Turn left onto Bernville Road/PA-183. Turn right onto West Leesport Road, then right onto Old Bernville Road. The Bern Township Municipal Building is at 1069 Old Bernville Road on the left (call 610-926-2267 if you need further assistance).

From the west: Get on I-78 East. Take Exit 19 onto PA-183 (toward Strausstown). Go 3.2 miles. PA-183 becomes Bernville Road. Go 10.7 miles. Turn left onto West Leesport Road. Go 0.2 mile. Turn right onto Old Bernville Road. Go 0.1 mile. The Bern Township Municipal Building is at 1069 Old Bernville Road on the left (call 610-926-2267 if you need further assistance).