PRESS RELEASE

                                           Contact: Fred G. Kowal
                                           President and Chief Operating Officer
                                           (973) 748-3600

American Bancorp of New Jersey, Inc.
American Bank of New Jersey
365 Broad Street
Bloomfield, NJ  07003-2798

NASDAQ National Market "ABNJ"              For Immediate Release
                                           ---------------------
                                           November 8, 2005


                 AMERICAN BANCORP OF NEW JERSEY, INC. ANNOUNCES
                 OTS DENIAL OF APPLICATION FOR STOCK REPURCHASES

Bloomfield, New Jersey - November 8, 2005 - American Bancorp of New Jersey, Inc.
(NASDAQ:   ABNJ)  ("American")   announced  today  that  the  Office  of  Thrift
Supervision   ("OTS")  has  disapproved  the  Company's  recent  application  to
repurchase up to 5% of its common stock through an open market stock  repurchase
program.

Separately,  American  previously  announced  that it  intends to  commence  the
repurchase of up to 208,293  shares to fund stock awards  previously  made under
the American Bank of New Jersey 2005 Restricted  Stock Plan,  which was voted on
by  stockholders  at the 2005 annual  meeting.  Purchases to fund the restricted
stock  plan will be made from  time to time in the open  market,  based on stock
availability, price and American's financial performance. The OTS' recent action
does not affect repurchases to fund the stock benefit plan.

American Bancorp of New Jersey, Inc. is the holding company for American Bank of
New Jersey,  a federally  chartered  stock savings bank which conducts  business
from its main office in  Bloomfield,  New Jersey and one branch  office in Cedar
Grove, New Jersey.


The  foregoing  material  contains  forward-looking  statements  concerning  our
financial  condition,  results of operations and business.  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 publicly release the results of any revisions that may be made
to any  forward-looking  statements to reflect the  occurrence of anticipated or
unanticipated events or circumstances after the date of such statements.