PRESS RELEASE

                     NAUGATUCK VALLEY FINANCIAL CORPORATION
                           ANNOUNCES CASH DIVIDEND AND
                               ANNUAL MEETING DATE


Contact:   John C. Roman
           President and Chief Executive Officer
           Naugatuck Valley Financial Corporation
           (203) 720-5000

Naugatuck, Connecticut - January 18, 2006 - The Board of Directors of Naugatuck
Valley Financial Corporation (NASDAQ National Market: "NVSL") has declared a
cash dividend for the quarter ended December 31, 2005, of $.05 per share to
stockholders of record on February 6, 2006. This is an increase over the $.04
per share which was paid in each of the previous four quarters. Payment of the
cash dividend will be made on or about March 1, 2006.

The Board of Directors also has announced that the Naugatuck Valley Financial
Corporation Annual Meeting of Stockholders will be held on Thursday, May 4,
2006.

Naugatuck Valley Financial Corporation is the holding company for Naugatuck
Valley Savings and Loan and is headquartered in Naugatuck, Connecticut.
Naugatuck Valley Savings and Loan operates six offices in Naugatuck, Beacon
Falls, Shelton, Derby and Seymour Connecticut.