PRESS RELEASE

                                  Contact: Fred G. Kowal
                                           President and Chief Operating Officer
                                           ASB Holding Company
                                           (973) 748-3600
ASB Holding Company
American Bank of New Jersey
365 Broad Street
Bloomfield, NJ  07003-2798

OTC Electronic Bulletin Board "ASBH"       For Immediate Release
                                           ---------------------
                                           June 1, 2005


                   ASB HOLDING COMPANY ANNOUNCES CASH DIVIDEND

Bloomfield, New Jersey - June 1, 2005 - ASB Holding Company (the "Company"), the
middle-tier  stock  holding  company of American Bank of New Jersey (the "Bank")
and ASB Investment  Corp,  announced today that the Company's Board of Directors
has declared a quarterly  cash  dividend of $0.09 per share to  stockholders  of
record as of June 15, 2005 payable on or about June 29, 2005. Seventy percent of
the stock of the Company is owned by  American  Savings,  MHC, a federal  mutual
holding  company (the "MHC").  This is the  Company's  first  regular  quarterly
dividend  since  completing  its minority stock offering on October 3, 2003. The
Company   previously  paid  a  special  cash  divided  of  $0.75  per  share  to
shareholders in December 2004.

Mr. Kowal  indicated that the cash dividend is being paid to provide a return to
stockholders,  after considering the equity and profitability of the Company and
the Bank.  The  payment  of future  dividends  will be  subject  to the  Board's
periodic review of the financial condition,  earnings,  and capital requirements
of the Company and the Bank.

At March 31,  2005,  the Company had total  assets and  stockholders'  equity of
$441.0 million and $38.8 million, respectively while reporting total deposits of
$328.0  million  and net  loans  of  $333.3  million.  The  Bank is a  federally
chartered  stock  savings bank which  conducts  business from its main office in
Bloomfield,  New Jersey and a branch  office in Cedar  Grove,  New  Jersey.  The
Company's  common  stock is traded on the OTC  Bulletin  Board  under the symbol
"ASBH."

The foregoing  information contains  forward-looking  statements  concerning the
financial  condition,  results of operations and business of the Company and its
plans, objectives,  expectations, estimates and intentions. The Company cautions
that such statements are subject to a number of uncertainties and actual results
could differ materially, and, therefore, readers should not place undue reliance
on  any  forward-looking   statements.  The  Company  does  not  undertake,  and
specifically disclaims, any obligation to update any forward-looking  statement,
whether  written or oral,  that may be made from time to time by or on behalf of
the Company.