<PAGE>
Letterhead of
GSB Financial Corporation
One South Church Street
Goshen, New York 10924
Dear Stockholder:
We recently mailed you proxy materials in connection with our Annual
Meeting of Stockholders to be held on Wednesday, February 25, 1998. Included
with those materials was a proxy card for you to complete.
According to our latest records, we have not received your proxy card
for this meeting.
Your vote is very important. We ask that you give the proxy materials
your prompt attention. A duplicate proxy card is enclosed. Please sign and
return your proxy card in the envelope provided so that your shares will be
represented at the meeting. The Board of Directors recommends a vote in favor of
all the proposals shown on the proxy card.
Because there are sometimes delays in mail deliveries, please sign and
return the enclosed proxy card even if you returned the original. If you need an
additional copy of our proxy statement or our annual report, you may obtain one
be calling Jenny Ford, Vice President and Secretary, at 914-294-6151.
Thank you very much for your attention to this matter.
Sincerely,
Clifford E. Kelsey
President and Chief Executive Officer
