FOR IMMEDIATE RELEASE                               FOR FURTHER INFORMATION
October 19, 2007                                    Brendan J. McGill
                                                    Senior Vice President & CFO
                                                    (215-256-8828)

SUMMARY:  Harleysville Savings Financial Corporation announces cash dividend and
earnings for the fourth quarter and fiscal year end September 30, 2007.

         Harleysville,  PA., October 19, 2007 - Harleysville  Savings  Financial
Corporation  (NASDAQ:HARL)  reported today that the Company's board of directors
declared a regular  quarterly  cash  dividend of $.17 per share on the Company's
common stock.  This is the 81st consecutive  quarter that the Company has paid a
cash dividend to its stockholders. The cash dividend will be payable on November
21, 2007 to stockholders of record on November 7, 2007.

         Net income  for the fourth  quarter  of fiscal  year 2007  amounted  to
$771,000  or $.20 per  diluted  share  compared  to $859,000 or $.22 per diluted
share for the fourth quarter of fiscal year 2006.

         Net income for the twelve  months ended  September 30, 2007 amounted to
$3,246,000 or $.83 per diluted share compared to $4,202,000 or $1.08 per diluted
share for the twelve-month period ended September 30, 2006.

         Ron Geib, President and Chief Executive Officer of the Company,  stated
"Given the extremely  challenging economic environment in which we operated this
past fiscal year, we are pleased that we have been able to maintain our historic
high level of quality assets.  Additionally,  while beginning to serve our local
communities with Priority  Business Banking products and services and increasing
our core  transaction  balances,  we have controlled  operating  expenses.  As a
twenty-year  public  company  we  have  learned  that  building  value  for  our
shareholders on a long-term basis requires  remaining true to our  fundamentals,
executing  our  business  plan  and  avoiding  distraction  from  uncontrollable
conditions which bring disappointing results."

         The Company's  assets totaled $773.5 million compared to $775.6 million
a year ago. Stockholders' book value increased to $12.65 per share from $12.59 a
year ago.

         Harleysville  Savings Financial  Corporation is the holding company for
Harleysville Savings Bank.  Established in 1915,  Harleysville Savings Bank is a
Pennsylvania  chartered and federally  insured  savings bank,  headquartered  in
Harleysville,  PA.  Harleysville is located in Montgomery County,  which has the
third largest  population  base and the second  highest per capita income in the
state of Pennsylvania.

         This presentation may contain  forward-looking  statements  (within the
meaning of the Private Securities Litigation Reform Act of 1995). Actual results
may  differ  materially  from the  results  discussed  in these  forward-looking
statements.  Factors  that might cause such a  difference  include,  but are not
limited to, general  economic  conditions,  changes in interest  rates,  deposit
flows,  loan demand,  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 the Company's operations, pricing, products and services.

<page>
<table>
<caption>
Harleysville Savings Financial Corporation
Selected Consolidated Financial Data as of September 30, 2007

(Dollars in thousands except per share data)          ----------------------------    ----------------------------
(Unaudited)                                               Twelve Months Ended:             Three Months Ended:
                                                      ----------------------------    ----------------------------
Selected Consolidated Earnings Data                    30-Sep-07        30-Sep-06       30-Sep-07       30-Sep-06
---------------------------------------------------   ------------    ------------    ------------    ------------

                                                   <c>             <c>             <c>             <c>
Total interest income                                 $     40,297    $     39,091    $     10,442    $     10,062
Total interest expense                                      28,794          26,366           7,572           6,953
                                                      ------------    ------------    ------------    ------------

Net Interest Income                                         11,503          12,725           2,870           3,109
Provision for loan losses                                       --              --              --              --
                                                      ------------    ------------    ------------    ------------
Net Interest Income after Provision for Loan Losses         11,503          12,725           2,870           3,109
                                                      ------------    ------------    ------------    ------------

Gain on sales of investments                                   160              27              --              --
Other income                                                 1,710           1,273             477             356
Total other expenses                                         9,216           8,568           2,326           2,407
                                                      ------------    ------------    ------------    ------------

Income before Income Taxes                                   4,157           5,457           1,021           1,058
Income tax expense                                             911           1,255             250             199
                                                      ------------    ------------    ------------    ------------

Net Income                                            $      3,246    $      4,202    $        771    $        859
                                                      ============    ============    ============    ============
<caption>
Per Common Share Data
---------------------------------------------------

                                                   <c>             <c>             <c>             <c>
Basic earnings                                        $       0.85    $       1.09    $       0.21    $       0.22
Diluted earnings                                      $       0.83    $       1.08    $       0.20    $       0.22
Dividends                                             $       0.68    $       0.64    $       0.17    $       0.16
Book value                                            $      12.65    $      12.59    $      12.65    $      12.59
Shares outstanding                                       3,717,515       3,849,735       3,717,515       3,849,735
Average shares outstanding - basic                       3,834,518       3,872,655       3,761,080       3,844,164
Average shares outstanding - diluted                     3,896,317       3,903,291       3,784,303       3,871,321
<caption>
Harleysville Savings Financial Corporation
Selected Consolidated  Financial Data as of September 30, 2007
(Dollars in thousands except per share data)          ----------------------------    ----------------------------
(Unaudited)                                               Twelve Months Ended:             Three Months Ended:
                                                      ----------------------------    ----------------------------
Other Selected Consolidated Data                       30-Sep-07        30-Sep-06       30-Sep-07       30-Sep-06
---------------------------------------------------   ------------    ------------    ------------    ------------

                                                   <c>             <c>             <c>             <c>
Return on average assets                                      0.54%           0.55%           0.40%           0.44%
Return on average equity                                      6.71%           8.76%           6.47%           7.15%
Interest rate spread                                          1.32%           1.51%           1.25%           1.44%
Net yield on interest earning assets                          1.56%           1.71%           1.51%           1.67%
Operating expenses to average assets                          1.21%           1.11%           1.20%           1.24%
Efficiency ratio                                             69.76%          61.09%          69.49%          69.45%
Ratio of non-performing loans to total
  assets at end of period                                     0.00%           0.00%           0.00%           0.00%
Loan loss reserve to total loans, net                         0.46%           0.50%           0.46%           0.50%
<caption>
                                                      ------------   ---------------------------------------------------------
                                                        Sept 30,       June 30,        Mar 31,         Dec 31,        Sept 30,
Selected Consolidated Financial Data                      2007          2007(1)         2007            2006           2006
---------------------------------------------------   ------------   ---------------------------------------------------------

                                                   <c>            <c>            <c>            <c>            <c>
Total assets                                          $    773,544   $    778,136   $    763,635   $    749,786   $    775,638
Consumer Loans receivable - net                            403,738        397,018        390,299        385,270        384,853
Commercial Loans                                            15,314         13,071          9,500          5,649            920
Loan loss reserve                                            1,933          1,943          1,946          1,952          1,956
Cash & investment securities                               118,920        120,204        122,222        106,870        129,257
Mortgage-backed securities                                 193,660        202,379        199,176        210,555        220,314
FHLB stock                                                  14,140         14,017         13,809         14,501         15,499
Deposits                                                   424,035        433,074        434,471        430,128        429,254
Advances                                                   298,609        288,017        274,154        265,870        294,611
Total stockholders' equity                                  47,041         49,045         49,208         48,817         48,471
</table>