North Fork to Increase Its Common Share Repurchase Program to 16 Million Shares

North Fork Bancorporation, Inc. (NYSE: NFB) announced
that its Board of Directors approved an increase to its previously
announced share repurchase program by 13 million shares bringing the
total authorized for repurchase to approximately 16 million shares.
   "This action is consistent with our present capital management
strategies where we have chosen to reduce the size of our balance
sheet enabling us to create more value for our shareholders," said
John Adam Kanas, Chairman, President and Chief Executive Officer.
   The common stock repurchase program will be done from time to time
in open market or through private transactions, subject to market
conditions. The repurchased shares will be used for general corporate
purposes.

   North Fork is a regional bank holding company headquartered in New
York with approximately $60 billion in assets conducting commercial
and retail banking from 360 branch locations in the Tri-State area
with a complementary national mortgage banking business.