Exhibit 99.1

FOR IMMEDIATE RELEASE
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Hudson Valley Holding Corp.                      CONTACT
21 Scarsdale Road                                -------
Yonkers, NY 10707                                Wendy Croker
                                                 VP, Shareholder Relations
                                                 (914) 771-3214





                          HUDSON VALLEY HOLDING CORP.
                            ANNOUNCES STOCK DIVIDEND
                          AND STOCK REPURCHASE PROGRAM



        YONKERS, NY, November 30, 2004 ... William E. Griffin, Chairman of the
Board of Hudson Valley Holding Corp. announced that the Board of Directors have
approved a 10% Stock Dividend for all Shareholders of Record as of the close of
business December 10, 2004. Dividend Stock Certificates will be mailed to
Shareholders on December 17, 2004.

        At the same time, Mr. Griffin announced the approval by the Board of
Directors of a program, effective December 13, 2004, to repurchase up to 75,000
of its shares at a price of $36.50 per share, or a price of $42.00 per share for
a transaction of at least 2,000 shares. This offer expires February 22, 2005.

     Hudson Valley Holding Corp., headquartered in Yonkers, NY, is the parent
company of Hudson Valley Bank, Westchester's largest independently owned Bank
with 19 branches located in the Bronx, Manhattan and Westchester and loan
production offices in Dutchess County and Queens. The Bank specializes in
providing a full range of financial services to small businesses, professional
services firms, not-for-profit organizations and individuals; and provides
investment management services through a subsidiary, A. R. Schmeidler & Co, Inc.
The Company's stock is traded under the ticker symbol "HUVL" on the OTC Bulletin
Board. Additional information on the Bank can be obtained on our web-site at
www.hudsonvalleybank.com.
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