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HVB
Hudson Valley Holding Corp.
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InvestSource, Inc.: Hudson Valley Bank Names Peter J. Tomasi Chief Credit Officer

Oct 10, 2008 (M2 PRESSWIRE via COMTEX) -- Stocks in the News: Hudson Valley Holding Corp (OTC BB: HUVL.OB), Chang-On International Inc. (OTC BB:CAON.OB), The Bank of New York Mellon (NYSE: BK), JPMorgan Chase & Co. (NYSE: JPM)
October 9, 2008 -- James J. Landy, President & CEO of Hudson Valley Bank, has announced the appointment of Peter J. Tomasi, an experienced senior banking executive, as Executive Vice President and Chief Credit Officer.

A resident of Little Falls, NJ, Mr. Tomasi has 35 years of industry experience, primarily in the areas of finance and lending. He was most recently Senior Credit Officer for the Credit Policy Group at Valley National Bank in Wayne, NJ. He previously served as Executive Director, Corporate Finance Credit and Operations, at Telcordia Technologies (formerly BellCore) in Piscataway, NJ; Director of the Portfolio Administration Group at CIT Corp.; and Senior Credit Officer for the former National Westminster Bancorp (now Bank of America) both in New Jersey.

Mr. Tomasi holds a Bachelor of Science Degree in Industrial and Management Engineering from Newark College of Engineering and a Master of Business Administration Degree in Finance from Seton Hall University. He is also a graduate of the American Banking Association (ABA) National Commercial Graduate Lending School. He is a Regional Director of the Federation of Credit and Financial Professionals, an affiliate of the National Association of Credit Management; a member of the Board of Visitors of the Dorman Honors College at New Jersey Institute of Technology; and is a former instructor for Commercial Lending and Real Estate Finance at the American Institute of Banking (AIB).

At Hudson Valley Bank, he will be responsible for credit administration, credit analysis, appraisal review, residential and consumer lending and loan operations. "Peter brings a wealth of experience and knowledge," according to Mr. Landy. "We look forward to working with him on our Executive team."

October 8, 2008 -- Chang-On International Inc. (OTC BB:CAON.OB), a company engaged in green architectural products made of its innovative SF brand of synthetic resin, announced today that it has reached an important early milestone in the registration process for government approval to engage in import and export activities. The Company's registration as an external trade proprietor was recently approved by the government, granting the import and export rights for its products and proprietary production techniques. All China enterprises must secure approval from the government of the PRC prior to engaging in external trade. This approval process involves a series of registrations and licenses from the government, of which the registration of external trade proprietor is the initial stage.

Mr. Li Guomin, President of CAON, stated, ''We are pleased to be able to announce the attainment of this recent milestone. This is an important step in our ultimate goal of expanding our reach into international markets and bringing our unique products to foreign buyers. We are actively engaged in completing all of the necessary steps to engage in external trade, and have made this one of our top priorities as we move forward with our development strategy.''.

October 9, 2008 -- The Bank of New York Mellon (NYSE: BK) today announced the appointment of Eric Kamback as chief executive officer of its Treasury Services group. Previously deputy head of Treasury Services, Kamback assumes responsibility for the company's global payments, trade services and cash management businesses, succeeding Robert W. Stasik, who is retiring after 35 years of distinguished service to pursue other opportunities.

Kamback joined The Bank of New York Mellon in 1980, and has had a significant role in the growth of a broad range of The Bank of New York Mellon businesses, including mutual funds, asset servicing, corporate trust, and shareowner services. In recent years he has focused on the development of technology-driven products and services, notably in the areas of global mass payments, global remittances and image-based deposit products, and increasing the global presence of the Treasury Services group, significantly expanding its client base in Europe, Asia and the Middle East, as well as the Americas.

A frequent speaker at international conferences and a featured participant at industry roundtables around the world, Kamback has fostered a business-wide focus on industry leadership and participation, facilitating Treasury Services group involvement in a number of domestic and global industry organizations.

Members of the Treasury Services management team reporting directly to Kamback include Howard Bascom, head of Global Trade Finance & Credit Support Services; Tony Brady, Global Cash Management and Pittsburgh Executive Officer; Al Briand, Global Product & Strategy Manager; Michael Cross, Marketing Manager; David Cruikshank, Manager, Treasury Services Sales/International Payment & Trade Services; and Joanne Scheier, chief administrative officer.

October 9, 2008 -- J.P. Morgan today announced it has been appointed depositary bank for the American Depositary Receipt (ADR) program for Ecopetrol S.A. J.P. Morgan will manage all aspects of the ADR program in the U.S. for Ecopetrol, the largest company in Colombia. Ecopetrol's ADR is the first NYSE-listed program by a Colombian company in more than a decade.

avier Gutierrez, CEO at Ecopetrol, said: "We are very pleased to have chosen J.P. Morgan to manage our ADR program to support our future growth initiatives, which will enable us to compete as a global energy provider. It is also an honor for us to be the first Colombian company to list on the New York Stock Exchange in over 10 years." William Kirst, Depositary Receipts Executive for Latin America at J.P. Morgan, said: "We are delighted to be working with a growing company like Ecopetrol. We look forward to helping Ecopetrol fully leverage its ADR program to help support the company's growth plans. This mandate is testament to J.P. Morgan's strong position in the depositary receipt industry, in both developed and emerging markets." J.P. Morgan launched the first DR in Latin America in 1960 (Telefonos de Mexico) and serves as depositary for a number of DR programs in Latin America, including Banco Santander - Chile, Petroleo Brasileiro S.A. and Companhia Vale do Rio Doce. In 2007, the firm launched a global depositary shares (GDS) program for Grupo Clarn S.A., the first Argentine company to have a DR listing on the London Stock Exchange. That year it also launched a global depositary receipt (GDR) program for Almacenes Exito S.A., the first primary offering of equity securities by a Colombian company outside of the home market in over 10 years.

Market Wrap for October 9, 2008 Stocks finished the session near their lows Thursday, despite beginning the trading day with healthy gains. A late-session sell-off took the Dow to its lowest level in more than five years and a long-time Dow component to its worst point since 1950.

Trading was upbeat early on when tech bellwether IBM (IBM 89.00, -1.55) preannounced a third quarter earnings surprise, central banks in the Far East cut interest rates, and investors assessed comments from the Treasury that indicated it may inject capital directly into banks.

Dow component IBM gave investors some temporary reassurance that the tech sector hasn't turned over. IBM said that third quarter earnings would total $2.05 per share, which is more than analysts were expecting. On the downside, the company did fall short of the consensus revenue forecast, but stated it remains confident it will hit its full-year earnings forecast of $8.75 per share.

Tech posted a gain for much of the session, but finished 3.4% lower.

Central banks in South Korea, Hong Kong and Taiwan all moved to cut target interest rates, according to Financial Times. The move came just one day after the Federal Reserve and several other major central banks slashed interest rates in a coordinated effort to mitigate economic risks.

Investors reacted to a speech made yesterday by Treasury Secretary Paulson that the recently approved $700 billion emergency financial rescue plan would permit direct capital infusions into banks. Reuters reported injections could start as soon as the end of the month.

ABOUT INVESTSOURCE, INC.: WIN an 8 day 7 nights Caribbean Getaway, GO TO: www.investsourceinc.com.

Coming in late Summer of this year: Go Baby GO!!! The first book of its kind on the OTCBB and Pink Sheet Markets www.gobabygobook.com .

To hear "The Fastest 60 Seconds in the Small-Cap Market," please go to www.ceo-corner.com InvestSource, Inc. is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. InvestSource, Inc. affiliates, officers, directors and employees may also have bought, or may buy the shares discussed in this opinion and may profit in the event of a rise in value. InvestSource, Inc. will not advise as to when it decides to sell and does not, and will not, offer any opinion as to when others should buy or sell; each investor must make that decision based on his or her judgment of the market Please consult your broker before purchasing or selling any securities mentioned herein. To view full disclaimers, please go to http://investsourceinc.com/php/disclaimer.php (disclaimers).

This release may contain statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend," and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. The information contained in an InvestSource profile is provided as an information service only. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. InvestSource has agreed to be compensated 140,000 of free trading shares of CAON for services rendered. To view full disclaimers, please go to http://investsourceinc.com/content/disclaimer.

CONTACT: InvestSource, Inc e-mail: info@investsourceinc.com WWW: http://www.investsourceinc.com

M2 Communications Ltd disclaims all liability for information provided within M2 PressWIRE. Data supplied by named party/parties. Further information on M2 PressWIRE can be obtained at http://www.presswire.net on the world wide web. Inquiries to info@m2.com.

(C)1994-2008 M2 COMMUNICATIONS LTD

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