Child Welfare League of America Names Astoria Federal Savings Best Corporate Friend of Children

3/6/2003

From: Joyce Johnson of CWLA, 202-942-0244 (March 3-5) CWLA Press Room: 202-745-2128 Dianne Baumert-Moyik of Astoria Federal, 516-327-7863; 516-903-1107 (cell)

WASHINGTON, March 4 -- The Child Welfare League of America (CWLA) today announced the recipients of its 2002 Best Corporate Friend of Children awards. Astoria Federal, the second largest thrift institution headquartered in New York and the fifth largest in the United States, will receive the award for its outstanding commitment to bettering the lives of children, youth and families.

Astoria Federal will join the Ford Motor Company, SAS Institute, Target Corporation and Valentino's, Inc., in accepting these awards at the CWLA conference on March 6 in Washington, DC.

Astoria Federal was nominated by St. Christopher-Ottilie of Sea Cliff, NY, a CWLA member agency. "Astoria Federal has been a corporate friend of St. Christopher-Ottilie for over 25 years and, in the last several years, has helped the agency make a difference in the community," said Robert Johnson, Executive Director of St. Christopher-Ottile.

"In today's business environment, it is especially important to recognize corporations which exh bit exemplary social responsibility," Shay Bilchik, CWLA's President and Chief Executive Officer said.

Brian Edwards, Astoria Federal's senior vice president and director of marketing, said "We are honored to accept this prestigious national award and thank CWLA as well as St. Christopher-Ottile for their recognition. We are a 'community' bank in the truest sense of the word. We understand our market and work hard to make a difference-because we firmly believe the stronger our communities are, the stronger we become. Since its founding in 1888, Astoria Federal has had a firm commitment to Putting people first."

Edwards explained, "Astoria Federal understands the intrinsic value of investing in the community and supporting a broad spectrum of initiatives, from health and human services to affordable housing. Our special focus, however, is on helping people achieve a better quality of life through education, because it is an area that touches all of us, especially children."

"We are pleased to present this award to Astoria Federal Savings. Thro gh its own Education First initiative, which includes its Kids' Tools for School program, Astoria Federal has collected more than six tons of school supplies. These supplies are distributed to hundreds of children in need so that they can feel well prepared and confident on their first day of school," Bilchik said, "In addition, its Student Savers(tm) program teaches children financial literacy by allowing them to open and maintain their own no-fee savings accounts. These and other programs that fall under Astoria Federal's Education First initiative are models for others, and the company is truly deserving of this year's Corporate Friend of Children Award."

Astoria Federal also supports many other CWLA agencies in the New York area, including Catholic Charities, Diocese of Brooklyn; Covenant House; Good Shepherd Services; Miracle Makers, Inc.; Ohel Children's Home and Services; and St. Vincent's Services.

Criteria used by CWLA in the selection of this year's recipients include: corporate personnel and management policies that promote the well-being of its employees; corporate giving and philanthropic activities that benefit children, youth and families outside the corporate family; corporate products that are not harmful to children and families or their physical and cultural environment; and a sustained pattern of national, state, or local activities that benefit children, families and the community.

The award will be presented to Astoria Federal at a dinner on March 6 during CWLA's national conference in Washington, DC, where it will also honor Prudential Financial, Inc. as the Corporate Advocate of the Year and U.S. Senator Patrick Leahy as the Congressional Advocate of the Year. The annual dinner attracts over 1,000 child advocates, representatives from Capitol Hill, national child-serving organizations, foster parents, and others from across the country.

About Astoria Federal Savings Astoria Federal Savings and Loan Association, with assets of $22 billion, is the wholly-owned subsidiary of Astoria Financial Corporation (NYSE:AF). Founded in 1888, Astoria Federal is the second largest thrift institution headquartered in New York and fifth largest in the United States. Through 86 convenient branch locations and multiple delivery channels, including http://www.astoriafederal.com, Astoria Federal provides retail banking, mortgage, consumer and small business loan services to 700,000 customers. Astoria Federal commands the third largest deposit market share in the attractive Long Island market, which includes Brooklyn, Queens, Nassau and Suffolk counties, with a combined population of seven million, exceeding that of 38 individual states. Astoria Federal originates mortgage loans through its banking and loan production offices in New York, an extensive broker network in 15 states (primarily the East Coast) and through correspondent relationships in 44 states. Astoria Federal embraces its philosophy of Putting people first by providing the best financial services and products available and delivering them with a personal touch in the local communities it serves.

Child Welfare League of America Established in 1920, the Child Welfare League of America is the nation's oldest and largest membership-based child welfare organization. Headquartered in Washington, DC, CWLA strives to advance sound public policy on behalf of the more than three million abused, neglected, and vulnerable children served by its 1200 public and private member agencies. To further its mission of preserving, protecting, and promoting the well-being of all children and families, CWLA conducts research; develops standards of best practice; hosts regional and national conferences; provides comprehensive, field-based consultation and professional development services; and is the largest publisher of child welfare materials in North America. Additional information on the League is available at http://www.cwla.org.