EXHIBIT 99


FOR IMMEDIATE RELEASE:  February 12, 1997

CONTACT: Cathy Califano, S.V.P./C.F.O., Haven Bancorp, tel.
         (718) 849-0330
         Hal Levine/Marty Cohen, The Levine Group, tel. 
         (212) 682-8875


     HAVEN BANCORP ISSUES $25 MILLION OF CAPITAL SECURITIES


Woodhaven, NY--Haven Bancorp, Inc. (NASDAQ: HAVN), the holding
company for Columbia Federal Savings Bank, today announced the
completion of a $25 million private placement of 10.46% capital
securities due February 1, 2027.  The securities were issued by
Haven Bancorp's recently formed unit, Haven Capital Trust I, and
were underwritten by Sandler O'Neill & Partners, L.P.  The
securities were sold in an offering under Rule 144A of the
Securities Act of 1933.

Proceeds of the issue are intended to be invested by Haven
Capital Trust I in junior subordinated debentures issued by Haven
Bancorp.  The Capital Securities are guaranteed by Haven Bancorp. 
Net proceeds from the sale of the debentures will be used for
general corporate purposes, including but not limited to, capital
contributions to Columbia Federal Savings Bank, the financing of
future acquisitions and the funding of repurchases of the
Company's common shares.

Headquartered in Woodhaven, New York, Haven Bancorp is the
holding company for Columbia Federal Savings Bank, a community-
oriented institution offering deposit products, residential and
commercial real estate loans and a full range of financial
services including discount brokerage, mutual funds, annuities
and insurance through nine full-service banking offices and five
supermarket branches located in Queens, Brooklyn, Nassau and
Suffolk counties.  The Bank's deposits are insured by the FDIC.