Astoria Federal Savings Announces Top Winners of the Teach Children to Save Essay Contest

		Astoria Federal SVP/Director of Marketing Brian Edwards, Astoria Federal First VP/Director of Retail Banking Administration Michael Lechleider, and Astoria Federal's Glen Cove Branch Manager Carl Libert congratulate the top seven winners of Astoria Federal's 2007 Teach Children to Save Essay Contest. Back Row L to R: Brian Edwards, Michael Lechleider and Carl Libert. Middle Row L to R: Travon Seon from Huntington Station, Ayman Zafar from Jamaica, Kalliopi Xarras from Flushing. Front Row L to Right: Atilla Daniel Osan from Ridge, Grand Prize Winner Jessica Bellomo from Glen Cove, Megan Anne Davis-Dent from Port Jefferson Station and Isabella Divilova from Brooklyn. (PRNewsFoto/Astoria Federal Savings) LAKE SUCCESS, NY UNITED STATES

Grand Prize Winner Receives a Personal Computer Astoria Federal's Education First Initiatives in Action LAKE SUCCESS, N.Y., July 25 /PRNewswire/ -- In recognition of Financial Literacy Month (April 2007), Astoria Federal Savings held its second annual essay contest for children, ages 5-12, asking the students to complete the statement: "Are you a spender or a saver and why?" The essay contest was part of Astoria Federal's fun and educational Teach Children to Save Celebrations, which took place in every neighborhood branch throughout Brooklyn, Queens, Nassau, Suffolk and Westchester. (Photo: http://www.newscom.com/cgi-bin/prnh/20070725/NYW013) Astoria Federal local branch managers each selected one winner, and the seven top winners were selected from these finalists. The grand prize winner was 8 year old Jessica Bellomo from Glen Cove, who received a new personal computer for her essay, in which she discussed the ways she has been taught to save money, and how she is saving to go to college and become a veterinarian. Three first-place winners were chosen, and each received a $500 Savings Bonds. They are: -- 5 year old Atilla Daniel Osan, from Ridge -- 9 year old Kalliopi Xarras from Flushing -- 11 year old Ayman Zafar from Jamaica Three second-place winners were chosen, and each received a $250 Savings Bond. They are: -- 7 year old Megan Anne Davies-Dent from Port Jefferson Station -- 10 year old Isabella Divilova from Brooklyn -- 11 year old Travon Seon from Huntington Station Every child who was selected as a local winner from their community received a Teach Children to Save Celebration Award Certificate and an Education First medal. The top seven winners and their families were invited to a reception at Astoria Federal's Lake Success Headquarters on July 11th, where they were congratulated by Astoria Federal executives and received their prizes. (Photo attached) According to Astoria Federal Senior Vice President and Director of Marketing Brian Edwards, the community bank is committed to improving financial literacy in young people, because early financial literacy builds the foundation for financial health as an adult. "The quality of these essays was amazing. We were especially impressed with what some of our younger contestants had to say, and how involved they already are in planning their financial futures. This contest is a fun, engaging way to promote financial literacy to young people in our communities," said Edwards. Astoria Federal's Education First initiatives include the Student Savers and Bank-at-School programs, as well as the Kids Tools for School Collection Drive to help children be prepared on the first day of school by providing them with new school supplies, and The First Home Club(TM) to promote homeownership. These programs and others were all designed to encourage lifelong learning in the communities Astoria Federal serves. For additional information about Astoria Federal's Education First financial literacy programs, please call 1-800-ASTORIA. Astoria Financial Corporation, the holding company for Astoria Federal Savings and Loan Association, with assets of $21.6 billion is the sixth largest thrift institution in the United States. Established in 1888, Astoria Federal is the largest thrift depository headquartered in New York with deposits of $13.4 billion and embraces its philosophy of "Putting people first" by providing the customers and local communities it serves with quality financial products and services through 86 convenient banking office locations and multiple delivery channels, including its enhanced website, http://www.astoriafederal.com. 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 offices and loan production offices in New York, an extensive broker network covering twenty-six states, primarily the East Coast, and the District of Columbia, and through correspondent relationships covering forty-three states and the District of Columbia.