Effective May 17, 2003, Presidential Bank will be converting its core computer systems to one of the most up-to-date processing systems in the banking industry. This change will be largely invisible to you as a customer, but it will help us to broaden the range of products and services that we can offer.

Please be assured that only our systems will change - the ownership and management of Presidential will remain the same.

As part of the pending systems upgrade, beginning on Monday, May 19, 2003, you will notice a new look in our online PC Banking system, with improved functionality and user-friendliness.

These system changes require no action on your part! Your online banking user ID and password will remain the same. However, any letters in your password must be in capital letters for the new system until you change your password.

In connection with the changeover to the new system, you will receive two statements for each of your accounts during the month of May. You will receive one statement for the period May 1, 2003 - May 16, 2003 and then another statement for the remainder of the month of May.

PC Banking and Telephone Banking may be unavailable from the evening of Friday, May 16th through the morning of May 19th. We apologize for any resulting inconvenience. Online Historical Statements and Check Images will be available throughout the conversion.

For more details on Presidential Bank and its products and services, please contact our customer service department at 800-383-6266.