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Astoria Federal Savings' Customer Appreciation Celebration Coming September 27-October 3!

     Exciting Events to be Held All Week in Every Astoria Federal Branch
                        from Southampton to Somers, NY

    LAKE SUCCESS, N.Y., Sept. 22 /PRNewswire-FirstCall/ -- In recognition and
appreciation of all of its customers, Astoria Federal Savings will kick off
its Customer Appreciation Celebration beginning Monday, September 27 in every
branch across Brooklyn, Queens, Nassau, Suffolk and Westchester. Throughout
the week-long celebration, customers who visit any one of Astoria Federal's
86 branches Monday through Friday will enjoy free product offerings, giveaways
and free coffee. To round out the fun-filled week, Astoria Federal will hold
special Customer Appreciation Parties featuring lively music, entertainment,
food, prizes and more, in each of its branches beginning Friday, October 1,
2004 in Mineola and concluding in Midwood and Boro Park, Brooklyn on Sunday,
October 3, 2004. Astoria Federal plans to hold 83 parties simultaneously on
Saturday, October 2, 2004.

    Some of the offerings* (*while supplies last, certain restrictions may
apply, see individual coupons. One per customer) each day include:

     -- On Monday, September 27, 2004, customers will receive a complimentary
        $10 American Express Gift Cheque when they purchase an American
        Express Gift card of $50 or more; customers can also sign up for free
        payment card protection to protect credit, ATM, and debit cards in the
        event of loss or theft.

     -- On Tuesday, September 28, 2004, customers can stop in to receive a
        "2-for-1" Plus Package dining coupon; customers with an Astoria
        Federal MoneyPlus debit card can stop by to receive complimentary
        discount coupons for movie tickets, video rentals and dining; a 50%
        discount on a safe deposit box will also be available.

     -- On Wednesday, September 29, 2004, customers who meet with a home
        finance specialist will receive a $10 home improvement gift
        certificate. For those investors interested in commercial real estate,
        you'll receive complimentary admission to the Real Estate Wealth Expo
        October 16 at the Jacob Javitz Center in New York City when you meet
        for a consultation with an Astoria Federal commercial real estate loan
        officer. Throughout Wednesday, customers who visit the branch can also
        receive a free Medical Emergency Data card and an Rx Advantage
        Prescription card*, which offers preferred pricing on prescriptions at
        participating pharmacies. (The Rx card is not an insurance program).

     -- On Thursday, September 30, 2004, small business customers with a
        BusinessOne(R) MoneyPlus debit card can receive discount coupons
        for office supplies and car rentals, and can save up to $50 on a
        safe deposit box. Business customers applying for a new loan with
        Astoria Federal can receive a .25% discount on the origination fee
        (up to $250) and can save 25% on the purchase of new credit card
        terminals. For those looking for a better business banking
        relationship and top customer service, stop down and meet with our
        branch manager or business relationship manager to find out how we can
        simplify your banking and help your business grow. Small business
        owners will also receive a complimentary magazine subscription
        following the free consultation.

     -- On Friday, October 1, 2004, for every customer who meets with a
        representative to review their college saving, retirement or estate
        management plans, you'll receive a free magazine subscription. Free
        piggy banks and Child ID kits will also be available in the branch.
        Children can also open their own free Student Savers account
        throughout the day.

    "We appreciate our customers everyday. This celebration gives us the
opportunity to say 'thank you' to our customers in a special way and show them
how much we appreciate them all year long," Brian Edwards, Senior Vice
President of Marketing said. "Of course, we always welcome new customers, and
I'd love to see everyone from our community stop by and experience just how
easy Astoria Federal's approach to everyday banking really is." For additional
information, please call 1-800-ASTORIA or visit http://www.astoriafederal.com.

    About Astoria Federal Savings
    Astoria Federal Savings and Loan Association is the wholly-owned
subsidiary of Astoria Financial Corporation (NYSE: AF). With assets of
$22.3 billion, Astoria Financial Corp. is the third largest thrift institution
headquartered in New York and sixth largest in the United States. Astoria
Federal embraces its philosophy of "Putting people first" by providing its
700,000 customers and the local communities it serves with quality financial
products and services through 86 convenient branches and multiple delivery
channels, including its website, http://www.astoriafederal.com. Astoria
commands the third largest deposit market share in the attractive Long Island
market, which includes Brooklyn, Queens, and Nassau and Suffolk counties with
a population exceeding that of 39 individual states. Astoria originates
mortgage loans through its branches and loan production offices in New York,
an extensive broker network in 19 states, primarily on the East Coast, and
through correspondent relationships in 44 states.


SOURCE Astoria Federal Savings




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    CONTACT:
    Dianne Baumert-Moyik of Astoria Federal
    Savings +1-516-327-7863, or Cell: +1-516-903-1107, or
    dbaumert-moyik@astoriafederal.com