ESSA Bancorp, Inc. Announces Dividend, Payment to Stockholders

STROUDSBURG, Pa.--(Business Wire)--
ESSA Bancorp, Inc. (the "Company") (NASDAQ: "ESSA"), today
announced the payment of a quarterly cash dividend of $0.04 per share
of the Company's common stock. The dividend will be payable to
stockholders of record as of September 16, 2008, and will be paid on
September 30, 2008.

"We are extremely pleased to be able to offer our investors a
dividend," said ESSA President and Chief Executive Officer of the
Company, Gary S. Olson.

ESSA Bancorp, Inc. is the holding company for ESSA Bank & Trust,
which has total assets of over $925 million and is the leading
service-oriented financial institution headquartered in the greater
Pocono, Pennsylvania region. The Bank maintains its corporate
headquarters in downtown Stroudsburg, Pennsylvania and has 13
community offices throughout the Pocono, Pennsylvania area. In
addition to being one of the region's largest mortgage lenders, ESSA
Bank & Trust offers a full range of retail and commercial financial
services.

This press release may contain certain "forward-looking
statements" which may be identified by the use of such words as
"believe," "expect," "intend," "anticipate," "should," "planned,"
"estimated," and "potential." Examples of forward-looking statements
include, but are not limited to, estimates with respect to our
financial condition, results of operations and business that are
subject to various factors which could cause actual results to differ
materially from these estimates and most other statements that are not
historical in nature. These factors include, but are not limited to,
general and local economic conditions, changes in interest rates,
deposit flows, demand for mortgage and other loans, real estate
values, and competition; changes in accounting principles, policies or
guidelines; changes in legislation or regulation; and other economic,
competitive, governmental, regulatory, and technological factors
affecting our operations, pricing, products and services.

ESSA Bancorp, Inc.
Gary S. Olson, 570-421-0531
President & CEO

Copyright Business Wire 2008