EXHIBIT 99.1

                                  PRESS RELEASE



Business Editors

                  NORWICH, NY - (BUSINESS WIRE) - October 4, 2000 -- NBT Bancorp
Inc. (NASDAQ: NBTB) today announced that it and BSB Bancorp, Inc. (NASDAQ: BSBN)
have agreed to terminate  their merger  agreement.  The reciprocal  stock option
agreements  have also been  terminated and no  termination  fees will be paid by
either party.

                  The principal office of NBT is located in Norwich,  NY. NBT is
listed on the NASDAQ under the symbol NBTB.  Its principal  banking  subsidiary,
NBT Bank, N.A. conducts business from 36 offices in nine counties in central and
northern New York.

    Forward-Looking Information
    This news  release  contains  statements  which  constitute  forward-looking
information within the meaning of the Private  Securities  Litigation Reform Act
of 1995.  Actual results may differ  materially from the statements made in this
release  since such  statements  involve  significant  risks and  uncertainties.
Factors that might cause such differences  include,  but are not limited to: the
expenses  involved in the proposed  merger being  different from what management
had anticipated;  competitive pressures among financial institutions  increasing
significantly;  economic conditions, either nationally or locally in areas which
NBT conducts its operations, being less favorable than expected; and legislation
or regulatory  changes which adversely  affect the ability of NBT to conduct its
current or future  operations.  NBT disclaims any  obligation to update any such
factors  or to  publicly  announce  the  result of any  revisions  to any of the
forward-looking   statements   included  herein  to  reflect  future  events  or
developments.


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