Oriental Financial Group Wins Stevie Award for Best TV Ad Campaign.

SAN JUAN, Puerto Rico -- Oriental Financial Group Inc. (NYSE: OFG) announced that it has won a 2005 American Business Awards "Stevie"(TM) for Best TV Ad Campaign for the Group's "Banking Solutions for Your Life" television spots.

The American Business Awards are the first all-encompassing business awards program honoring great performances in the workplace. Nicknamed the "Stevies" for the Greek word "crowned," the awards were presented during ceremonies at the Marriott Marquis Hotel in New York City.

Oriental's commercials were part of a TV, radio, Internet, print and collateral campaign broadening Oriental's brand image to encompass its complete array of banking and financial services for consumers, professionals and middle-market businesses in Puerto Rico. Heretofore, Oriental (which means Eastern in Spanish) has been primarily known for IRA investment products.

Edgardo Palerm, VP of Corporate Communications and Advertising at Oriental, in accepting the Stevie at last week's American Business Awards dinner, said, "We wanted to wake up everybody, and show them the sense of relief they can experience when they discover how Oriental can solve their problems and improve their lives through the banking solutions we provide."

The commercials feature scenes patterned after modern movie classics. In "Hole," which echoes the movie Holes (2003, starring Sigourney Weaver), a man lives in a hole in the front yard of his house - until Oriental helps finance an expansion to his home. In "Dreams," which features elements from Barton Fink (1991, starring John Turturro), an insomniac searches the Internet because he can't dream - until he discovers Orientalonline.com. In "Future," which recreates a scene from Brazil (1985, written and directed by Terry Gilliam), a professional worries about his bleak future - until Oriental helps him start his own business.

An article in American Banking Association's Bank Marketing magazine described the spots as "a distinctive series of brand TV commercials." EJE Sociedad Publicitaria, a Puerto Rico advertising agency, handled creative design, production and media buys.

More than 100 Stevies were presented in over 40 categories including Best Overall Company, Best Executive, Best Support Staffer, and Best Corporate Web Site. More than 1,200 nominations from companies of all sizes and in virtually every industry were submitted for consideration.

About Oriental Financial Group

Oriental Financial Group Inc. (www.OrientalOnline.com) is a diversified financial holding company operating under U.S. and Puerto Rico banking laws and regulations. Now in its 40th year in business, Oriental provides comprehensive financial services to its clients throughout Puerto Rico and offers third party pension plan administration through wholly owned subsidiary, Caribbean Pension Consultants, Inc. The Group's core businesses include a full range of mortgage, commercial and consumer banking services offered through 23 financial centers in Puerto Rico, as well as financial planning, trust, insurance, investment brokerage and investment banking services.

Forward-Looking Statements

This news release may contain forward-looking statements that reflect management's beliefs and expectations and are subject to risks and uncertainties inherent to the Group's business, including, without limitation, the effect of economic and market conditions, the level and volatility of interest rates, and other risks and considerations detailed in the Group's filings with the Securities and Exchange Commission. These or other factors could cause actual results to differ materially from forward-looking statements. The Group also disclaims any obligations to update information contained in this news release as a result of developments occurring after the date of issuance.