Magyar Bancorp News
400 Somerset St., New Brunswick, NJ 08901
732.342.7600


        Magyar Bancorp Appoints John S. Fitzgerald to Board of Directors

New Brunswick, NJ--June 2, 2010--The Magyar Bancorp Board of Directors announced
today that it has appointed John S. Fitzgerald to the Board of Directors of the
Company, effective May 27, 2010. Mr. Fitzgerald was also appointed to the Board
of Magyar Bank, the Company's principal operating subsidiary. As previously
announced, Mr. Fitzgerald was named President and Chief Executive Officer of
Magyar Bancorp and Magyar Bank on May 27, 2010.

The Board also  increased  the size of the Board from seven  members to eight in
appointing  Mr.  Fitzgerald,  who will serve as a Director until the next annual
meeting of  shareholders.  Mr.  Fitzgerald will not receive any compensation for
his service as a member of the Board of  Directors  of Magyar  Bancorp,  Inc. or
Magyar Bank.

About Magyar Bancorp

Magyar  Bancorp  (NASDAQ:  MGYR) is the parent  company of Magyar  Bank,  a $550
million asset community bank headquartered in New Brunswick,  New Jersey. Magyar
Bank has been serving  families and  businesses in Central New Jersey since 1922
with a complete  line of  financial  products  and  services,  and today  Magyar
operates five branch locations in Branchburg New Brunswick, North Brunswick, and
South Brunswick. Visit Magyar online at www.magbank.com.

Contact: John Reissner, Vice President, Marketing Director, 732.214.2083