THURSDAY, SEPTEMBER 30, 1999

NEW YORK--The Federal Reserve Bank of New York Thursday approved the application by Warwick Community Bancorp, Inc., Warwick, New York, to acquire substantially all of the common voting stock of The Towne Center Bank, Lodi, New Jersey.

According to standard procedure, the proposal cannot be completed for 15 days.

The Reserve Bank acted under authority delegated by the Board of Governors of the Federal Reserve System.