Filed by TrustCo Bank Corp NY
                              Pursuant to Rule 425 under the Securities Act of
                              1933 and deemed filed  pursuant to Rule 14d-2
                              of the Securities Exchange Act of 1934
         Subject Companies:  Cohoes Bancorp, Inc.(Commission File No. 000-25027)
                   and Hudson River Bancorp, Inc.(Commission File No. 000-24187)


                   TO THE SHAREHOLDERS OF COHOES BANCORP, INC.
                         AND HUDSON RIVER BANCORP, INC.


TRUSTCO'S OFFERS ARE GENUINE. Our offers are clearly better for the shareholders
than the  proposed  Cohoes-Hudson  merger.  So much  better  that it calls  into
question your directors' actions in rejecting them unconditionally.

You, the shareholders,  own the banks - not the directors. Your directors have a
fiduciary duty to act in your best interests, not theirs. Clearly, their actions
are not in your best interest.


Review the facts below. Support the offer that's best for you, the shareholders.

         Remember, IT'S YOUR BANK. IT'S YOUR MONEY. IT'S YOUR DECISION.


                   COMPARE THE OFFERS FOR COHOES BANCORP, INC.

                   HUDSON'S OFFER           TRUSTCO'S OFFER
                  ------------------------------------------
                    $ 89,000,000*           $ 134,000,000*


        COMPARE THE DIVIDENDS                       COMPARE THE PERFORMANCE

         COHOES   HUDSON   TRUSTCO                  COHOES    HUDSON     TRUSTCO
         -------------------------                  ----------------------------
12 Month                                    Return on
Yields**  1.88%    0.96%     4.90%    Equity (3/31/00) 5%        5%         24%

Based on current cash dividend            TrustCo's Return on Equity outperforms
yields TrustCo outperforms Cohoes         Cohoes    and Hudson by 380%.
by 160% and Hudson by 410%.

                               THE TRUSTCO OFFERS.
             BETTER FOR THE SHAREHOLDRS. BETTER FOR THE COMMUNITY.

TrustCo  Bank Corp NY intends to file Tender  Offer  Statements  with the United
States Securities and Exchange  Commission  because its offers to acquire Cohoes
Bancorp,  Inc.  and Hudson  River  Bancorp,  Inc.  have been  rejected.  We urge
investors to carefully  read these  documents at the time they are filed because
they will contain  important  information  regarding the proposed  acquisitions.
These  documents will be available for free to any investor at the United States
Securities and Exchange  Commission's  web site  (www.sec.gov).  Shareholders of
TrustCo,  Cohoes and Hudson River may obtain a free copy of these documents upon
written request to TrustCo Bank Corp NY, 320 State Street, Schenectady, New York
12305, Attention: Secretary.

*   The above  information  was extracted from Form S-4/A  Registration
    Statement  Hudson  River  Bancorp,   Inc.  filed  6/30/00,  and  Form  S-4
    Registration Statement TrustCo Bank Corp NY filed 7/11/00.
**  The above information was extracted from the Bloomberg Report dated 7/11/00.