EXHIBIT 99










Skibo Financial Corp.                               Contact:  Walter G. Kelly
First Carnegie Deposit                                        President
Carnegie, Pennsylvania                                        (412) 276-2424






                              For Immediate Release
                                 April 18, 2000


                         SKIBO FINANCIAL CORP. ANNOUNCES
                            STOCK REPURCHASE PROGRAM

         Carnegie,  Pennsylvania -- April 18, 2000 -- Walter G. Kelly, President
of Skibo Financial Corp.,  Carnegie,  Pennsylvania  (Nasdaq "SKBO"), the holding
company of First Carnegie  Deposit,  announced today that its Board of Directors
has  adopted  a  stock  repurchase  plan  covering  up to 10%  of its  1,389,363
outstanding  shares of common stock held by persons other than Skibo Bancshares,
M.H.C.,  its  mutual  holding  company.  The  authorization  of  this  plan  was
previously  announced.  This press release  announces the  implementation of the
plan.

         The  repurchases  will  be  made  from  time to  time,  subject  to the
availability and price of stock.  Repurchased  shares will become authorized but
unissued  shares and will be utilized for general  corporate and other purposes,
including  the  issuances  of shares in  connection  with the  exercise of stock
options.