EX-99.2

Exhibit 99.2

November 20, 2006

Member Contact
Member Name
Member Address
Member City, State and Zip

Dear Member Contact:

The Federal Home Loan Bank of Pittsburgh is pleased to announce the winners of the 2006 Election of Directors.

The individuals who were chosen to fill the three expiring Pennsylvania directorships are:

The individual who was chosen to fill the newly designated Delaware directorship is:

These individuals will each serve a three-year term beginning January 1, 2007 and ending December 31, 2009.

Enclosed is a list of the total votes each nominee received in this year’s election.

If you have any questions regarding the election results, please contact me at 412-288-2833.

Sincerely,

Dana A. Yealy
Managing Director, General Counsel and Corporate Secretary

Enclosure

2006 Election Voting Results

Pennsylvania—Three Directorships


		Number of Members Eligible to Vote			254
		Number of Members Casting Votes			131


Nominee		Voting Shares Received
Molnar, Edward J.	Harleysville Savings Bank	2,198,373
Chairman	Harleysville, PA

Ward, Patrick J.	Penn Liberty Bank	1,866,949
Chairman and CEO	Wayne, PA

Marlo, Dennis	Sovereign Bank	1,809,648
Executive Vice President	Wyomissing, PA

Abrey, Donald E.	Peoples State Bank of Wyalusing	1,598,981
President and CEO	Wyalusing, PA

Frey, Ronald H.	Fleetwood Bank	1,325,626
Chairman of the Board & CEO	Fleetwood, PA

Szuszczewicz, Anthony J.	Polonia Bank	294,029
President	Huntingdon Valley, PA


	Total Number of Votes Cast—	9,093,606