Malizia Spidi & Fisch, PC
                                ATTORNEYS AT LAW

1100 New York Avenue, N.W.                            1900 South Atherton Street
Suite 340 West                                                         Suite 101
Washington, D.C.  20005                                 State College, PA  16801
(202) 434-4660                                                    (814) 272-3502
Facsimile: (202) 434-4661                             Facsimile:  (814) 272-3514


June 15, 2005

Board of Directors
American Bancorp of New Jersey, Inc.
365 Broad Street
Bloomfield, New Jersey 07003

     Re: Registration Statement Under the Securities Act of 1933
         -------------------------------------------------------

Gentlemen:

     This opinion is rendered in connection with the  Registration  Statement on
Form S-1 filed with the Securities and Exchange  Commission under the Securities
Act of 1933 relating to the offer and sale of up to 14,169,642  shares of common
stock,  par value $0.10 per share (the "Common  Stock"),  of American Bancorp of
New Jersey,  Inc.  (the  "Company").  The Common  Stock is proposed to be issued
pursuant to the Plan of Conversion and  Reorganization of American Savings,  MHC
("Plan of Conversion and Reorganization").

     As  special  counsel  to  the  Company,  we  have  reviewed  the  corporate
proceedings relating to the Plan of Conversion and Reorganization and such other
legal matters as we have deemed  appropriate  for the purpose of rendering  this
opinion.

     Based on the  foregoing,  we are of the  opinion  that the shares of Common
Stock of the Company covered by the aforesaid  Registration Statement will, when
issued in accordance with the terms of the Plan of Conversion and Reorganization
against full payment  therefor and upon the declaration of the  effectiveness of
the  Registration  Statement  on Form S-1, be legally  issued,  fully paid,  and
non-assessable shares of Common Stock of the Company.

     We assume no  obligation  to advise you of any event that may  hereafter be
brought to our  attention  that may affect any  statement  made in the foregoing
paragraph after the declaration of effectiveness  of the Registration  Statement
on Form S-1.

     We hereby  consent to the use of this  opinion and to the  reference to our
firm appearing in the Company's Prospectus. We also consent to any references to
our legal opinion in the Prospectus.

                                           Very truly yours,

                                           /s/ Malizia Spidi & Fisch, PC

                                           MALIZIA SPIDI & FISCH, PC