FOR IMMEDIATE RELEASE 

Contact:
- --------
Robert J. Brittain, President & C.E.O.
(518) 842 - 7200
(518) 842 - 7500 (FAX)


   AMBANC HOLDING CO., INC. ANNOUNCES STOCK REPURCHASE PROGRAM
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Amsterdam, N.Y., July 22, 1996 --  Ambanc Holding Co., Inc.
(NASDAQ: AHCI) announced its intention today to repurchase up to
10% of its outstanding shares in the open market during the period
July 23, 1996 to December 31, 1996.  The shares will be purchased
at prevailing market prices from time to time during the repurchase
period depending upon market conditions.

Robert J. Brittain, President & C.E.O. of the Company, indicated
that the Board of Directors approved the repurchase program in view
of the current price level of the Company's common stock and the
strong capital position of the Company's subsidiary, Amsterdam
Savings Bank, F.S.B.  Mr. Brittain stated that "we believe that the
repurchase of our shares represents an attractive investment
opportunity which will benefit the Company and our stockholders. 
The repurchased shares will become treasury shares and will be used
for general corporate purposes."

Over the past three months, the Company's shares traded between
$9.38 and $9.88.  At June 30, 1996, the Company had $459.0 million
in assets, stockholders' equity of $74.8 million, and 5,422,250
shares issued and outstanding.


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