Astoria Financial Corporation To Announce Fourth Quarter and Full Year Earnings & Host Conference Call.

Business Editors

LAKE SUCCESS, N.Y.--(BUSINESS WIRE)--Jan. 2, 2003

Astoria Financial Corporation (NYSE:AF), announced that it expects to report fourth quarter and full year earnings on Thursday, January 23, 2003 at approximately 4:30 p.m. Eastern Time (ET). A copy of the news release will be immediately available on its web site, www.astoriafederal.com.

The Company also announced that George L. Engelke, Jr., Chairman, President & CEO of Astoria will host an earnings conference call on Friday morning at 9:30 a.m. (ET), January 24th.

     Toll-free dial-in:       [phone]
     International dial-in:   [phone]

A simultaneously webcast of the conference call will also be available on the Company's web site at www.astoriafederal.com and will be archived through February 7, 2003.

A telephone replay will be available on January 24, 2003 from 1 p.m. Eastern Time through Friday, January 31st, 11:59 p.m.

  Replay #  (Domestic):       [phone]  -     Passcode: 3677261
  Replay #  (International):  [phone]  -     Passcode: 3677261

Astoria Financial Corporation, the holding company for Astoria Federal Savings and Loan Association with assets of $22.0 billion, is the second largest thrift institution in New York and fifth largest in the United States. Through 86 convenient banking office locations and multiple delivery channels, including its enhanced website, www.astoriafederal.com, Astoria Federal provides retail banking, mortgage, consumer and small business loan services to 700,000 customers. Astoria commands the third 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 originates mortgage loans through an extensive broker network in fifteen states, primarily the East Coast, and through correspondent relationships in forty-four states.