Exhibit (a)(28)
Contact: Dime
Franklin L. Wright
(212) 326-6170
June 2, 2000
00/20
FOR IMMEDIATE RELEASE
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DIME COMPLETES PURCHASE OF ITS SHARES FROM HUDSON UNITED
NEW YORK -- June 2, 2000 -- Dime Bancorp, Inc. (NYSE:DME) announced
today that it had completed the purchase of 2,469,100 shares of Dime common
stock from Hudson United Bancorp (NYSE:HU) at a price of $18.25 per share, which
was disclosed in Dime's Rule 13E-1 Transaction Statement filed with the
Securities and Exchange Commission on May 31, 2000. Dime intends to use the
shares purchased to offset shares issuable under its employee benefit plans and
may also use them for general corporate purposes.
The shares had been acquired in the open market by Hudson in connection
with the proposed merger of Dime and Hudson announced in September 1999. The
shares were purchased by Dime pursuant to the terms of a Termination, Option
Cancellation and Settlement Agreement between Dime and Hudson entered into when
the merger was terminated on April 28, 2000, which provided that, if Hudson
decided to sell its Dime shares, it was required to offer to sell them to Dime
first.
Dime Bancorp is the parent company of The Dime Savings Bank of New
York, FSB (www.dime.com), a regional bank serving consumers and businesses
through 127 branches located throughout the greater New York City metropolitan
area. Directly and through its mortgage banking subsidiary, North American
Mortgage Company (www.namc.com), Dime also provides consumer loans, insurance
products and mortgage banking services throughout the United States.
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