Clifton Savings Bancorp, Inc. Announces the Dismissal of Litigation Initiated by Lawrence Seidman.

CLIFTON, N. J. -- Clifton Savings Bancorp, Inc. (Nasdaq-CSBK) announced that on March 2, 2005 the Appellate Division of the Superior Court of New Jersey unanimously dismissed an appeal by Lawrence Seidman from a decision of the Department of Banking and Insurance denying Mr. Seidman's request that the Department schedule a hearing to consider whether Clifton Savings Bank, S.L.A should be compelled to grant Mr. Seidman's request that it mail to its members a communication from Mr. Seidman. Clifton Savings Bank, S.L.A. is the wholly-owned subsidiary of Clifton Savings Bancorp, Inc. The communication Mr. Seidman wished to mail to Clifton Savings Bank's members included the names of two individuals Mr. Seidman wished to nominate to serve as directors of Clifton Savings Bank, S.L.A.

The decision of the Appellate Division of the Superior Court of New Jersey follows a lengthy period of litigation initiated by Mr. Seidman. Mr. Seidman first expressed an interest in Clifton Savings Bank, S.L.A when he nominated two candidates to the Board of Clifton Savings Bank, S.L.A in December, 2003, shortly after Clifton Savings Bank, S.L.A announced the adoption of its Plan of Reorganization and Stock Issuance. In January 2004, Mr. Seidman initiated litigation against Clifton Savings Bank, S.L.A seeking to enjoin, among other things, Clifton Savings Bank, S.L.A from implementing its proposed Plan of Reorganization and Stock Issuance, which was denied by the Chancery Division of the Superior Court of New Jersey. Mr. Seidman continued to initiate litigation and file appeals in an effort to have his nominees considered for election.

John A. Celentano, Jr., Chairman of the Board and Chief Executive Officer of Clifton Savings Bancorp, Inc., commenting on the decision said, "We are pleased with the decision issued by the Appellate Division of the Superior Court of New Jersey. Mr. Seidman's five complaints against Clifton Savings Bank, S.L.A, and his appeal of the decision of the Commissioner of Banking and Insurance have been unsuccessful. We have been forced to spend hundreds of thousands of dollars defending what we believe is senseless litigation initiated by Mr. Seidman. That money impacts earnings and negatively affects our shareholders and the ability of Clifton Savings Bank, S.L.A to serve the needs of its customers."