American Bancorp of New Jersey, Inc. Announces Stock Repurchase Program

  
    
  
  
    
      American Bancorp of New Jersey, Inc. (NASDAQ: ABNJ) (the Company), 
      holding company of American Bank of New Jersey (the Bank), announced its 
      intention today to repurchase up to 10% of its outstanding shares in the 
      open market or in privately negotiated transactions. These shares will 
      be purchased from time to time over a twelve-month period depending upon 
      market conditions.
    
    
      Fred Kowal, President and Chief Operating Officer of the Company, 
      indicated that the Board of Directors approved the repurchase program in 
      view of the current price level of the Company's common stock and the 
      strong capital position of the Company's subsidiary, American Bank of 
      New Jersey. Mr. Kowal stated: "We believe that the repurchase of our 
      shares represents an attractive investment opportunity which will 
      benefit the Company and our stockholders."
    
    
      As of June 30, 2006, the Company had consolidated total assets of $509.0 
      million and stockholders' equity of $128.2 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 information contains forward-looking statements 
      concerning our plans, objectives, expectations, estimates and 
      intentions. 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 update any forward-looking statement, 
      whether written or oral, that may be made from time to time by or on 
      behalf of us.
    
  
American Bancorp of New Jersey, Inc. (NASDAQ: ABNJ) (the Company),
holding company of American Bank of New Jersey (the Bank), announced
its intention today to repurchase up to 10% of its outstanding shares
in the open market or in privately negotiated transactions. These
shares will be purchased from time to time over a twelve-month period
depending upon market conditions.

   Fred Kowal, President and Chief Operating Officer of the Company,
indicated that the Board of Directors approved the repurchase program
in view of the current price level of the Company's common stock and
the strong capital position of the Company's subsidiary, American Bank
of New Jersey. Mr. Kowal stated: "We believe that the repurchase of
our shares represents an attractive investment opportunity which will
benefit the Company and our stockholders."

   As of June 30, 2006, the Company had consolidated total assets of
$509.0 million and stockholders' equity of $128.2 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 information contains forward-looking statements
concerning our plans, objectives, expectations, estimates and
intentions. 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 update any forward-looking statement,
whether written or oral, that may be made from time to time by or on
behalf of us.