Astoria Federal Savings Celebrates Financial Literacy Month With Annual Teach Children to Save Celebration and Essay Contest

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Astoria Financial Corp. (delisted)	AMEX:AF	AMEX	Common Stock

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In-Branch Celebration Events April 27-May 3, 2008; Essay Contest April 27-May 17, 2008 LAKE SUCCESS, N.Y., April 21 /PRNewswire/ -- April is Financial Literacy Month and in recognition, Astoria Federal Savings is launching an essay contest for children ages 5-12 asking them to complete the statement: "If I save a lot today, in the future I could ... " This is Astoria Federal's third annual essay contest, which is part of their fun and educational Teach Children to Save Celebration for the community from April 27-May 3, 2008 in every neighborhood branch during normal branch hours. During the Celebration, children and teens visiting any Astoria Federal branch can open a free Student Savers account and Astoria Federal will provide an opening deposit of $5.00. There will also be raffles, bank tours and fun giveaways. Beginning April 27, children throughout Brooklyn, Queens, Nassau, Suffolk and Westchester can visit any Astoria Federal branch to pick up an official entry form and enter the 250-word essay contest. The official essay contest form is also available online at http://www.astoriafederal.com/. All official essay submissions should be hand delivered to any Astoria Federal branch no later than May 17. In June, a local branch essay contest winner will be selected from each branch, and those winners will go on to compete for the Grand Prize, as well as 1st and 2nd Prizes in the following age groups: 5-7, 8-10, 11-12. The Grand Prize winner will receive a new personal computer, while 1st Prize winners will receive $500 U.S. Savings Bonds, and 2nd Prize winners will receive $250 U.S. Savings Bonds. Every child selected as a local winner from their community will receive a $50 U.S. Savings Bond, a Teach Children to Save Celebration Award Certificate, an Education First medal and have their photo taken for community recognition. Astoria Federal's Senior Vice President and Director of Marketing Brian Edwards stated, "Giving children a head start on their financial future is an important part of their education and we really enjoy helping children learn about the value of saving in a fun and educational way. Through our Bank-at-School and Student Savers programs, we have reached thousands of children who are learning the important habits of saving. We're excited about our third annual essay contest, which really gets kids thinking about their finances at a young age. Last year we had an overwhelming response and hope to receive the same kind of thoughtful and creative essays this year." The Teach Children to Save Celebration and Essay Contest is part of Astoria Federal's Education First initiative, which was created to inspire lifelong learning in the communities they serve. Other Education First initiatives include Kids Tools for School, 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. For additional information about Astoria Federal's Education First initiative, Teach Children to Save Celebration and Essay Contest, or Bank-at-School program, please call 1-800-ASTORIA or visit http://www.astoriafederal.com/. Astoria Financial Corporation, with assets of $21.5 billion, is the holding company for Astoria Federal Savings and Loan Association. Established in 1888, Astoria Federal, with deposits in New York totaling $13.0 billion, is the largest thrift depository headquartered in New York 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-two states, primarily the East Coast, and the District of Columbia, and through correspondent relationships covering twenty-nine states and the District of Columbia. DATASOURCE: Astoria Federal Savings CONTACT: Irene Ferrall, VP-Director Marketing Communications of Astoria Federal Savings, +1-516-327-7834, Web site: http://www.astoriafederal.com/ Company News On-Call: http://www.prnewswire.com/comp/104529.html

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