PALM BEACH GARDENS, Florida and WILLISTON, Vermont, January 31, 2005 & Greg Hahr, President/ CEO of LibertyQuest Mortgage and Lou Dunham, President/ CEO of Ameribank, are pleased to announce the execution of a letter of intent to create a joint venture, named Ameribank Mortgage. The new company will become a subsidiary of Ameribank upon regulatory approval.According to Mr. Hahr, Ameribank Mortgage is committed to setting the highest standards of excellence throughout the mortgage financing experience. Our team of professionals will guide customers through the wide variety of mortgage programs to find the right home loan that meets their needs at the lowest rates and fees possible.We are eager to offer our customers a wide array of mortgage products including residential loans and construction loans, said Mr. Dunham. With this partnership we will be able to offer the most competitive fixed and variable rate products available today, beginning in the states of Florida, West Virginia and Ohio.Mr. Dunham went on to say, Ameribank Mortgage will eventually provide mortgage products to consumers throughout the country, not just in our present locations. Consumers looking for a hassle free mortgage borrowing experience anywhere in America will find what they need with us. This important philosophy of excelling in customer relationships is depicted by our motto Its all about relationships.Mr. Hahr and his team bring over 100 years of mortgage banking experience to Ameribank Mortgage. He expects the first office, to be located in Palm Beach Gardens, Florida, to open during the first quarter of 2005, followed quickly by an office located in St. Clairsville, Ohio.Ameribank was established in 1906 with offices presently in Palm Beach County, Florida, Belmont and Jefferson County, Ohio, and McDowell County, West Virginia. For additional information about their products and services, please visit their website at www.ameribank.com(link is external).LibertyQuest Mortgage is based in Williston, Vermont and will continue to offer mortgage loan products under its name in Alaska, Colorado, Connecticut, Florida, Indiana, Maine, Maryland, Massachusetts, New Hampshire, Rhode Island, South Carolina, Texas, Vermont, Washington and Wyoming. For additional information about their products and services, please visit their website at www.libertyquestmortgage.com(link is external).