CFX: Declares Regular Quarterly Dividend

Contact: Mark A. Gavin, Executive Vice President/Chief
         Operating Officer-(603) 355-8604
         Gregg R. Tewksbury, Chief Financial Officer-
         (603) 355-8607


                         CFX CORPORATION
                   DECLARES REGULAR QUARTERLY
                        COMMON DIVIDEND

                               

Keene, N.H., September 9, 1997 -- The Board of Directors of CFX

CORPORATION (AMEX: CFX) has declared a regular quarterly Common

Stock dividend of $.22 per share, payable October 17, 1997 to

shareholders of record, September 19, 1997.



CFX Corporation is a multi-bank holding company with total

assets of $2.8 billion as of September 1, 1997. The Company's

three banking subsidiaries are CFX Bank, headquartered in

Keene, New Hampshire, Orange Savings Bank, headquartered in

Orange, Massachusetts, and The Safety Fund National Bank,

headquartered in Fitchburg, Massachusetts. CFX Mortgage, Inc.,

CFX Bank's mortgage banking subsidiary, services approximately

$895 million in mortgage loans for others. In addition, CFX

Funding L.L.C., a 51% owned subsidiary of CFX Bank that engages

in the facilitation of lease financing and rated

securitizations, now services over $117 million in leases for

others. The Company operates 58 full service offices, 3 loan

production offices, and 88 automated teller and remote service

banking locations in New Hampshire and central Massachusetts,

and operates a trust division with $405 million in assets.





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