Long Island Financial Corp. Announces Election of Vice Chairmen.

Business Editors

ISLANDIA, N.Y.--(BUSINESS WIRE)--April 20, 2004

Douglas C. Manditch, President and Chief Executive Officer of Long Island Financial Corp. (NASDAQ/NMS: LICB), and its wholly owned subsidiary, Long Island Commercial Bank, announced today the Boards elected Frank J. Esposito and John C. Tsunis, Esq. as Vice Chairmen of the Boards, of both the Company and the Bank, at meetings held on April 14, 2004.

Frank J. Esposito is a founding Director of the Bank, serving since 1989. He is the President of Trio Leasing Co., Inc., and its related real estate and development companies.

Mr. Esposito is a graduate of Eastern Military Academy and attended New York University. He is a former Chairman of Suffolk County Off-Track Betting; has formerly served on the Executive Committee for the Cooley's Anemia Foundation, and is presently on the Board of Directors of the Smithtown YMCA and a sponsor for the Smithtown Blind Foundation. Mr. Esposito and his wife Nancy reside in Nissequogue.

John C. Tsunis, Esq. has been a member of the Board of Directors of Long Island Commercial Bank since 1990. He serves the Bank as General Counsel for real estate matters.

Mr. Tsunis is President of Long Island Hotels LLC, which manages seven hotel properties in the New York Metropolitan area, and has practiced law for the last 26 years in the Hauppauge, Long Island firm of Tsunis, Gasparis & Dragotta LLP, and its predecessors.

Mr. Tsunis graduated with honors, from New York University, with a Bachelor of Science in Banking and Finance, and received a Juris Doctor degree from the Syracuse College of Law in 1975.

Mr. Tsunis is Chairman of the Board of the Long Island Museums in Stony Brook, a member of the Board of Directors for New York State Hospitality and Tourism Association in Albany, The Board of Directors for the Long Island Aquarium, The Board of Visitors of Touro Law School, and has served on other community and not-for-profit boards.

Mr. Tsunis has four children, and lives in Poquott, Long Island with his wife Laura and son Charles.

In concluding his announcement, Mr. Manditch pointed out that Harvey Auerbach was elected Chairman of the Board, of both the Company and the Bank, on February 28, 2004, and that the Boards' actions of April 14th completes the restructuring of the Boards, following the retirement of the Company and Bank's Vice Chairman, Roy M. Kern, Sr., effective January 1, 2004, and the death of Perry B. Duryea, Chairman of the Board, on January 11, 2004.