PRESS RELEASE

[LOGO] MONADNOCK COMMUNITY BANCORP, INC.
One Jaffrey Road
Peterborough, New Hampshire                           (603) 924-9654
03458


                              FOR IMMEDIATE RELEASE

For Additional Information Contact:
Karl F. Betz, Senior Vice President and Chief Financial Officer
(603) 924-9654

                  MONADNOCK COMMUNITY BANCORP, INC. ANNOUNCES
                            STOCK REPURCHASE PROGRAM

     Peterborough,  New Hampshire - (December 9, 2005) - William M. Pierce, Jr.,
President and Chief  Executive  Officer of Monadnock  Community  Bancorp,  Inc.,
headquartered  in  Peterborough,  New Hampshire,  announced today that Monadnock
Community  Bancorp,  Inc. intends to repurchase up to 18,400 shares, or 4.4%, of
its  outstanding  publicly-held  common stock in the open market or in privately
negotiated  transactions  expected to commence on December 14, 2005. The purpose
of the  repurchase  program  is to fund the  Monadnock  Community  Bancorp  2005
Recognition  and  Retention  Plan  approved by  stockholders  at the 2005 Annual
Meeting of  Stockholders.  These shares will be purchased at  prevailing  market
prices  from time to time  over a  twelve-month  period  depending  upon  market
conditions.

     This news release  contains  certain  forward-looking  statements about the
proposed stock repurchase program.  Forward-looking statements can be identified
by the fact that they do not relate  strictly to  historical  or current  facts.
They often include words like "believe," "expect," "anticipate,"  "estimate" and
"intend"  or future or  conditional  verbs  such as "will,"  "would,"  "should,"
"could" or "may."  Certain  factors  that could cause  actual  results to differ
materially  from expected  results  include  delays in  completing  the proposed
repurchase  program,  changes in the interest rate  environment,  changes in the
market price of Monadnock  Community  Bancorp,  Inc.  common  stock,  changes in
general economic  conditions,  legislative and regulatory changes that adversely
affect the  business of  Monadnock  Community  Bancorp,  Inc. and changes in the
securities markets.