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
                                                           ---------------------
                                                           September 21 2005


                   STOCKHOLDER APPROVAL AND MEMBER APPROVAL OF
    SECOND-STEP CONVERSION OF ASB HOLDING COMPANY AND AMERICAN SAVINGS, MHC

Bloomfield,  New  Jersey  -  September  21,  2005  - ASB  Holding  Company  (OTC
Electronic Bulletin Board "ASBH")(the "Company"),  the middle-tier stock holding
company of American  Bank of New Jersey (the "Bank"),  announced  today that its
shareholders  voted  to  approve  the  Plan  of  Conversion  and  Reorganization
("Reorganization")  related to the proposed  second-step  conversion of American
Savings,  MHC and formation of American Bancorp of New Jersey,  Inc. as the new,
parent holding  company of the Bank. The members of American  Savings,  MHC also
voted to approve the Reorganization.

American Bancorp of New Jersey,  Inc. closed its subscription  stock offering on
September 14, 2005. The Reorganization is still subject to receipt of regulatory
approval  from  the  Office  of  Thrift  Supervision,   Washington,  DC.  It  is
anticipated that the Reorganization  will be completed in October 2005. Upon the
effective  date of the  Reorganization,  the shares of common  stock of American
Bancorp of New Jersey,  Inc.  to be issued in exchange  for the shares of common
stock of ASB Holding  Company or sold in the  subscription  offering by American
Bancorp of New Jersey, Inc. will be issued.

The foregoing  information contains  forward-looking  statements  concerning our
plans, objectives,  expectations, estimates and intentions. We caution 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. We do not undertake, and specifically disclaim,
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 us.

This press release shall not constitute an offer to sell or the  solicitation of
an offer to buy nor shall there be any sale of these  securities in any state in
which such offer,  solicitation  or sale would be unlawful prior to registration
or qualification under the securities laws of any such state. This press release
is not an offer to sell or a solicitation  of an offer to buy common stock.  The
offer is made only by the prospectus.