Naugatuck Valley Financial Corporation to Commence Stock Offering Related to Second-Step Conversion

Naugatuck Valley Financial Corporation NVSL announced today the receipt of conditional approval from the Office of Thrift Supervision to reorganize from the two-tier mutual holding company structure to the stock holding company structure and to commence a "second-step" stock offering of shares of common stock by the Bank's proposed new holding company, a recently formed Maryland corporation also known as Naugatuck Valley Financial Corporation. The Company also announced that the registration statement relating to the offering of common stock by New Naugatuck Valley Financial Corporation has been declared effective by the Securities and Exchange Commission.