Astoria Federal Savings Launches 8th Annual Kids Tools for School Collection Drive August 1-31, 2007

Share Name	Share Symbol	Market	Type
Astoria Financial Corp. (delisted)	AMEX:AF	AMEX	Common Stock

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Helping children in need prepare for the first day of school LAKE SUCCESS, N.Y., Aug. 1 /PRNewswire/ -- Could you imagine starting school without even a pencil or notebook? Surprisingly, thousands of children do each year, but Astoria Federal is asking for the public's support to erase this problem with their 8th Annual Kids Tools for School Collection Drive. This community program puts new school supplies in the hands of those children least able to afford them, including hundreds of homeless children. Astoria Federal has once again teamed up with various schools and organizations to distribute the supplies before school starts in September. New school supplies, or cash donations for supplies, can be dropped off at any neighborhood Astoria Federal branch throughout Brooklyn, Queens, Nassau, Suffolk and Westchester during the month of August. Astoria Federal is committed to "Putting people first" in the neighborhoods they serve, and will match up to $10,000 in cash donations to purchase supplies in bulk. "We are very proud of this important program, because it sheds light on a big problem that most people aren't aware of," said Astoria Federal Senior Vice President and Director of Marketing Brian Edwards. "It can cost parents hundreds of dollars to get their children the necessary supplies for school and, for many, this cost is too burdensome to handle. Since this program began, we've collected over six tons of supplies to help children in need, many of whom live in homeless shelters or have other special circumstances." Astoria Federal is proud of the support they are receiving this year from their many program partners including: OST Group, Inc., Long Island Rail Road, BJM Promotions, Inc., Brooklyn Chamber of Commerce, Queens Chamber of Commerce, Girl Scout Council of Greater New York, Girl Scouts of Nassau County, Girl Scouts of Suffolk County, Junior League of Long Island, Junior League of Brooklyn, The Long Island Radio Group, Anton Publications, Herald Community Newspapers, Newsday's Parents and Children Magazine, The Garden City News, The Queens Courier, Public Access TV Corp. - Great Neck/North Shore, Ocean Printing Company, and The Ethical Humanist Society of Long Island. The Kids Tools for School Collection Drive is part of Astoria Federal's Education First initiative, which includes the Student Savers and Bank-at- School programs, as well as The First Home Club(TM) to promote homeownership. These programs and others were all designed to encourage lifelong learning in the communities Astoria Federal serves. For additional information about Astoria Federal's Kids Tools for School Collection Drive visit http://www.astoriafederal.com/. Astoria Financial Corporation, the holding company for Astoria Federal Savings and Loan Association, with assets of $21.6 billion is the sixth largest thrift institution in the United States. Established in 1888, Astoria Federal is the largest thrift depository headquartered in New York with deposits of $13.4 billion 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-six states, primarily the East Coast, and the District of Columbia, and through correspondent relationships covering forty-three states and the District of Columbia. DATASOURCE: Astoria Federal Savings CONTACT: Tara Rogers of Astoria Federal Savings, +1-516-327-7863, Web site: http://www.astoriafederal.com/ http://ir.astoriafederal.com/ Company News On-Call: http://www.prnewswire.com/comp/104529.html

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