PRESS RELEASE

                        NEW YORK COMMUNITY BANCORP, INC.
                        --------------------------------
               ANNOUNCES REDEMPTION OF TRUST PREFERRED SECURITIES
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Westbury, N.Y., February 8, 2007 - New York Community Bancorp, Inc. (NYSE: NYB)
(the "Company") today announced that Haven Capital Trust I ("Haven Trust I") and
Roslyn Preferred Trust I ("Roslyn Trust I"), subsidiaries of the Company, will
redeem all of their respective trust preferred securities. The Company currently
expects to fund the redemptions with the proceeds of a new issue of trust
preferred securities in April 2007.

Haven Trust I will redeem all $17.4 million of its fixed rate trust preferred
securities (the "Haven Trust I Securities") on April 1, 2007 (the "Haven Trust I
Redemption Date"). The redemption price for each of the Haven Trust I Securities
will equal $1,052.30 (105.23% of the $1,000.00 liquidation amount per security),
plus all accrued and unpaid distributions per security to the Haven Trust I
Redemption Date. All distributions accruing on the Haven Trust I Securities will
cease to accrue effective the Haven Trust I Redemption Date. The Bank of New
York, as property trustee for Haven Trust I, will notify holders of the Haven
Trust I Securities of the redemption.

Roslyn Trust I will redeem all $63.0 million of its floating rate trust
preferred securities (the "Roslyn Trust I Securities") on April 1, 2007 (the
"Roslyn Trust I Redemption Date"). The redemption price for each of the Roslyn
Trust I Securities will equal the $1,000.00 liquidation amount per security,
plus all accrued and unpaid distributions per security to the Roslyn Trust I
Redemption Date. All distributions accruing on the Roslyn Trust I Securities
will cease to accrue effective the Roslyn Trust I Redemption Date.
Wilmington Trust Company, as property trustee for Roslyn Trust I, will notify
holders of the Roslyn Trust I Securities of the redemption.

New York Community Bancorp, Inc. is the $28.5 billion holding company for New
York Community Bank and New York Commercial Bank, and the leading producer of
multi-family loans for portfolio in New York City. A New York State-chartered
savings bank with 137 offices serving New York City, Long Island, Westchester
County, and northern New Jersey, New York Community Bank is the third largest
thrift depository in the New York metropolitan region, and operates through
seven local divisions: Queens County Savings Bank, Roslyn Savings Bank, Richmond
County Savings Bank, Roosevelt Savings Bank, CFS Bank, First Savings Bank of New
Jersey, and Ironbound Bank. A New York State-chartered commercial bank, New York
Commercial Bank currently has 29 branches serving Manhattan, Queens, Brooklyn,
Westchester County, and Long Island. Additional information about New York
Community Bancorp, Inc. and its bank subsidiaries is available at
www.myNYCB.com.

Forward-looking Statements and Associated Risk Factors

This release, like other written and oral communications presented by the
Company and our authorized officers, may contain certain forward-looking
statements regarding our prospective performance and strategies within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. We intend such
forward-looking statements to be covered by the safe harbor provisions for
forward-looking statements contained in the Private Securities Litigation Reform
Act of 1995, and are including this statement for purposes of said safe harbor
provisions.

Forward-looking statements, which are based on certain assumptions and describe
our future plans, strategies, and expectations, are generally identified by use
of the words "anticipate," "believe," "estimate," "expect," "intend," "plan,"
"project," "seek," "strive," "try," or future or conditional verbs such as
"will," "would," "should," "could," "may," or similar expressions. Our ability
to predict results or the actual effects of our plans or strategies is
inherently uncertain. Accordingly, actual results may differ materially from
anticipated results.

There are a number of factors, many of which are beyond our control, that could
cause actual conditions, events, or results to differ significantly from those
described in our forward-looking statements. These factors include, but are not
limited to, general economic conditions and trends, either nationally or locally
in some or all of the areas in which we and our customers conduct our respective
businesses; conditions in the securities markets or the banking industry;
changes in interest rates, which may affect our net income, future cash flows,
or the market value of our assets; changes in banking, securities, tax,
environmental, and insurance laws, regulations, and policies, and the ability to
comply with such changes in a timely manner; changes in accounting principles,
policies, practices, or guidelines; changes in legislation and regulation;
changes in the monetary and fiscal policies of the U.S. Government, including
policies of the U.S. Treasury and the Federal Reserve Board; war or terrorist
activities; and other economic, competitive, governmental, regulatory, and
geopolitical factors affecting our operations, pricing, and services.
Additionally, the timing and occurrence or non-occurrence of events may be
subject to circumstances beyond our control.

Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this release. Except as may be
required by applicable law or regulation, the Company disclaims any obligation
to update any forward-looking statements.


Contact:

New York Community Bancorp, Inc.
Ilene A. Angarola, First Senior Vice President &
Director, Investor Relations
516-683-4420