March 30, 2006

Approval of proposal by New York Community Bancorp and New York Community Newco

For immediate release

The Federal Reserve Board on Thursday announced its approval of the proposal by New York Community Bancorp, Inc. and New York Community Newco, Inc., both of Westbury, to acquire Atlantic Bank of New York, New York, all in New York.

Attached is the Board's Order relating to this action.

Last Update: March 30, 2006