NEWS RELEASE

CONTACT: Kenneth J. Wagner, SVP Investor Relations
         Provident Financial Services, Inc.
         (201) 915-5344

FOR RELEASE: 7:45 A.M. Eastern Time: February 27, 2009


        Provident Financial Services, Inc. Announces CEO Succession Plan


JERSEY  CITY,  NJ,  February  27,  2009 ---/  PRNewswire-First  Call/  Provident
Financial Services, Inc. (NYSE:PFS) (the "Company") announced that in accordance
with the  Company's  retirement  policy  Paul M.  Pantozzi,  Chairman  and Chief
Executive  Officer,  will retire effective  September 1, 2009. Mr. Pantozzi will
remain as Chairman of the Board.

Christopher Martin, President and Chief Operating Officer since 2007 will assume
the title of Chief  Executive  Officer and President of both the Company and The
Provident Bank. Mr. Martin joined the Company in 2004 as President.

Mr.  Pantozzi,  who has held many  positions  with The Provident Bank during his
career spanning over 40 years, has served as CEO since 1993 and as both Chairman
and CEO  since  1998.  He has  been one of the most  prominent  and  influential
banking  executives  in New  Jersey  for  more  than 20  years,  and  under  his
leadership The Provident Bank has grown to more than $6.5 billion in assets.

"It has been my distinct honor and privilege to serve The Provident Bank and its
constituencies  as its Chief Executive  Officer for the past sixteen years. I am
certain that Chris Martin will foster the next level of  achievement  and growth
for New Jersey's  oldest  financial  institution.  I  congratulate  Chris on his
appointment  and am  confident  that he  will  serve  Provident,  its  Board  of
Directors,  employees, customers and stockholders with distinction in the coming
years," stated Mr. Pantozzi.

"The  Provident  Bank and its  management  team will  maintain  its  pursuit  of
long-term  stockholder  value  during these  difficult  times by  continuing  to
emphasize  the  core  competencies,  which  Paul  Pantozzi  and the  Board  have
cultivated.  I will assume  leadership of an organization that is ready and able
to meet the challenges of tomorrow and provide the personalized customer service
that has been successful for 170 years," added Mr. Martin.



About the Company

Provident  Financial  Services,  Inc. is the holding  company for The  Provident
Bank, a  community-oriented  bank offering a full range of retail and commercial
loan and deposit products. On this date, The Provident Bank officially marks its
170th year of existence,  having been  established  in 1839.  The Provident Bank
currently operates 82 full service branches  throughout northern and central New
Jersey.