For Immediate Release

Title: Astoria Federal Savings Donates Up To $50,000 For Haiti Disaster Relief and Launches Matching Gift Campaign

LAKE SUCCESS, N.Y., Jan. 15 /PRNewswire-FirstCall/ — Astoria Federal Savings announced today that it will make a corporate donation to the American Red Cross to support earthquake relief efforts in Haiti. The announcement was marked by a $25,000 initial contribution to the relief organization which will increase to as much as $50,000 as Astoria Federal matches donations made by the general public at any of its branches throughout Brooklyn, Queens, Nassau, Suffolk and Westchester through February. In addition, Astoria Federal will also match two-for-one every dollar donated by its 1,600 employees to the American Red Cross, or to International Medical Corps or Americares, for gifts of up to $5,000.

 ”Our thoughts are with all those affected by this terrible tragedy,” said Astoria Federal Chairman and Chief Executive Officer George L. Engelke, Jr. “Together, with our customers and employees, we can support the much-needed relief effort.”

 To donate to the American Red Cross, please stop by any one of Astoria Federal’s neighborhood branches throughout Brooklyn, Queens, Nassau, Suffolk and Westchester, or visit Checks made payable to American Red Cross/Haitian Relief are preferred, however cash will also be accepted.

 Humanitarian organizations such as the American Red Cross have begun sending money, supplies and staff to Haiti to support relief efforts.  According to news reports, the recent earthquake caused catastrophic damage and loss of life. As many as three million people may have been affected by the quake, which collapsed government buildings and caused major damage to hospitals in the area. Humanitarian organizations are mobilizing their efforts to provide rescue services and medical care in a massive international effort.

 Astoria Financial Corporation (NYSE: AF), with assets of $20.7 billion, is the holding company for Astoria Federal Savings and Loan Association.  Established in 1888, Astoria Federal, with deposits in New York totaling $13.2 billion, is the largest thrift depository headquartered in New York and embraces its philosophy of “Putting people first” by providing the customers and local communities it serves with quality financial products and services through 85 convenient banking office locations and multiple delivery channels, including its enhanced website, Astoria Federal commands the fourth largest deposit market share in the attractive Long Island market, which includes Brooklyn, Queens, Nassau, and Suffolk counties with a population exceeding that of 38 individual states.  Astoria Federal originates mortgage loans through its banking and loan production offices in New York, an extensive broker network covering sixteen states, primarily along the East Coast, and the District of Columbia, and through correspondent relationships covering seventeen states and the District of Columbia.