Exhibit 99.1

                     Gouverneur Bancorp Announces 2005 Third
                         Quarter and Nine Months Results

Gouverneur, New York, August 1, 2005: Gouverneur Bancorp, Inc. (AMEX: GOV) (the
"Company") and its subsidiary, Gouverneur Savings and Loan Association (the
"Bank"), today announced the results for the third quarter and nine months ended
June 30, 2005.

For the three months ended June 30, 2005, the Company reported net income of
$246,000, or $0.11 per diluted share, representing an increase of $7,000, or
2.9% over last year's net income of $239, 000, or $0.11 per diluted share. The
annualized return on average assets and average equity for the three months
ended June 30, 2005 was 0.87% and 5.35% respectively, compared to 0.98% and
5.36% at June 30, 2004.

For the nine months ended June 30, 2005, the Company reported net income of
$736,000, or $0.33 per diluted share, representing an increase of $67,000, or
10.0% over last year's net income of $669,000, or $0.30 per diluted share. The
annualized return on average assets and average equity for the nine months ended
June 30, 2005 was 0.89% and 5.37% respectively, compared to 0.94% and 5.02% for
the same period last year.

Since September 30, 2004, total assets grew $13.9 million, or 13.3%, from $104.2
million to $118.1 million at June 30, 2005, while total loans increased $15.0
million, or 18.7%, from $80.2 million to $95.2 million over the same period.

Deposits increased $2.4 million, or 3.9%, from $61.6 million at September 30,
2004 to $63.9 million at June 30, 2005. Advances from the Federal Home Loan Bank
of New York ("FHLB") increased from $23.0 million at September 30, 2004 to $33.0
million at June 30, 2005.

Shareholders' equity was $18.6 million at June 30, 2005, an increase of 3.33%
over the September 30, 2004 balance of $18.0 million. The book value of
Gouverneur Bancorp, Inc. was $8.13 per common share based on 2,284,234 shares
outstanding at June 30, 2005. The company paid a semi-annual cash dividend of
$0.14 per share to public shareholders on March 31, 2005. Cambray Mutual Holding
Company waived its right to receive that dividend.

Commenting on the year's results, Mr. Richard Bennett, President and Chief
Executive Officer said, "We have seen some decrease in interest rate spread, the
difference between the average rate we earn on our interest-earning assets and
the cost of our interest-bearing liabilities, from 3.91% for the first nine
months of last year to 3.82% for the same period this year. The Federal Reserve
continues to take a measured approach in raising interest rates. The effect of
the increases, nine since June 30, 2004 totaling 2.25%, has been to raise
short-term interest rates, while long-term rates have in fact fallen. Unless
this trend changes, our spread will continue to shrink as our costs for deposits
and borrowings rise, while interest rates on our mortgage portfolio remain the
same, or fall. Our continued growth in loans will help to offset the increase in
interest expense, but will probably not cover the total decrease related to
interest rate changes."

Mr. Bennett continued, "We continue to see strong demand for our mortgage
products. The growth we experienced in loans in the first nine months exceeded
our forecast. Some of that growth was the result of increases in commercial
loans since the hiring of a commercial loan officer."

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The Company, which is headquartered in Gouverneur, New York, is the holding
company for Gouverneur Savings and Loan Association. Founded in 1892, the Bank
is a federally chartered savings and loan association offering a variety of
banking products and services to individuals and businesses in its primary
market area in southern St. Lawrence and northern Lewis and Jefferson Counties
in New York State.

Statements in this news release contain forward-looking statements as that term
is defined in the Private Securities Litigation Reform Act of 1995. These
statements are based on the beliefs of management as well as assumptions made
using information currently available to management. Since these statements
reflect the views of management concerning future events, these statements
involve risks, uncertainties and assumptions. These risks and uncertainties
include among others, the impact of changes in market interest rates and general
economic conditions, changes in government regulations, changes in accounting
principles and the quality or composition of the loan and investment portfolios.
Therefore, actual future results may differ significantly from results discussed
in the forward-looking statements due to a number of factors, which include, but
are not limited to, factors discussed in the documents filed by the Company with
the Securities and Exchange Commission from time to time.

For more information, contact Robert J. Twyman, Vice President and Chief
Financial Officer at (315) 287-2600.

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