American Bancorp of New Jersey, Inc. Announces Completion of Stock Repurchase, Commencement of Another to Fund Stock Benefit Pl

American Bancorp of New Jersey, Inc. (NASDAQ: ABNJ) (the
"Company"), the holding company of American Bank of New Jersey (the
"Bank"), announced the completion of its repurchase of 208,295 shares
of common stock to fund the Bank's 2005 Restricted Stock Plan. The
Company also announced its intention today to repurchase up to 358,484
shares of its outstanding common stock in the open market in order to
fund the restricted stock portion of its 2006 Equity Incentive Plan.
   Purchases will be made from time to time in the open market, based
on stock availability, price and the Company's financial performance.
It is anticipated that purchases will be made during the next twelve
months, although no assurance can be given as to when such purchases
will be made or to the total number of shares that will be purchased
during such period.
   Fred G. Kowal, President and Chief Operating Officer of the
Company, indicated that the Board of Directors approved the repurchase
program in order to fund the restricted stock portion of the Company's
2006 Equity Incentive Plan, and in view of the strong capital position
of the Bank.
   As of March 31, 2006, the Company had consolidated total assets of
$516.3 million and stockholders' equity of $128.6 million. The Bank is
a federally chartered stock savings bank which conducts business from
its main office in Bloomfield, New Jersey and one branch office in
Cedar Grove, New Jersey.

   The foregoing material contains forward-looking statements
concerning our financial condition, results of operations and
business. We caution that such statements are subject to a number of
uncertainties and actual results could differ materially, and,
therefore, readers should not place undue reliance on any
forward-looking statements. We do not undertake, and specifically
disclaim, any obligation to publicly release the results of any
revisions that may be made to any forward-looking statements to
reflect the occurrence of anticipated or unanticipated events or
circumstances after the date of such statements.