Citizens Financial Services, Inc. Declares Cash & Stock Dividend

MANSFIELD, Pa., July 22 /PRNewswire-FirstCall/ -- The Board of Directors
of Citizens Financial Services, Inc. (OTC Bulletin Board: CZFS) the bank
holding company for First Citizens National Bank, recently declared a cash and
stock dividend for Citizens Financial Services, Inc. shareholders.
The cash dividend declared is $.235 per share along with a 1% stock
dividend which will be paid on July 25, 2008 to shareholders of record on July
11, 2008. This quarterly cash dividend is an increase of 4.4% over the
dividend declared a year ago. CEO and President Randall E. Black stated, "The
increase in dividends of 4.4% over last year reflects the continued
profitability of the Company and the Board of Directors desire to provide
total shareholder return."
Inquiries regarding the purchase of the company's stock may be made
through the following brokers: Ferris Baker Watts, Inc. 410-659-4600: Ryan,
Beck & Co., 973-549-4200; Sandler O'Neill & Partners LP, 212-466-8023; Monroe
Securities, Inc., 800-766-5560; Boenning & Scattergood, Inc., 610-828-0400;
Knight Equity Markets, LP, 201-222-9400; Keefe, Bruyette & Woods, Inc.,
212-554-2600; UBS Securities LLC, 203-719-7100; Hill Thompson Magid & Co.,
201-434-6900; Arthurs, Lestrange & Co., 412-306-1730 and Pershing Trading
Company, 201-413-3531.
Citizens Financial Services, Inc., has over 1,500 shareholders, the
majority of whom reside in Potter, Tioga, and Bradford Counties. First
Citizens National Bank has community offices in Wellsville New York, Genesee,
Ulysses, Wellsboro, Mansfield, Blossburg, Canton, Troy, Gillett, Towanda,
LeRaysville, Stateline, Sayre and in-store offices at Weis Market in Wellsboro
and WalMart in Mansfield.
Note: This press release may contain forward-looking statements as defined
in the Private Securities Litigation Reform Act of 1995. Actual results and
trends could differ materially from those set forth in such statements due to
various factors. These factors include operating, legal and regulatory risks;
changing economic and competitive conditions and other risks and
uncertainties.
SOURCE Citizens Financial Services, Inc.

Kathleen Campbell, Senior Vice President, Marketing of Citizens Financial
Services, Inc., +1-570-662-0422, or fax +1-570-662-8512