STATEMENT FROM THE BOARD
OF DIRECTORS OF PSFCU - Feb. 28, 2007

On February 27^th, 2007, during their monthly meeting, the Board of Directors of the Polish & Slavic Federal Credit Union voted to declare Mr. Marcin Sar’s seat vacant. The decision followed the Board’s review of the extension of his term. Mr. Sar is eligible to participate as a candidate to the Board of Directors in the upcoming 2007 Elections.