SCHEDULE 14A
(RULE 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14a INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES
EXCHANGE ACT OF 1934 (AMENDMENT NO. )
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ASTORIA FINANCIAL CORPORATION
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[COMPANY LOGO] NEWS
One Astoria Federal Plaza, Lake Success, NY 11042-1085 (516) 327-3000 RELEASE
Contact: Peter J. Cunningham
First Vice President, Investor Relations
516-327-7877
ir@astoriafederal.com
FOR IMMEDIATE RELEASE
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INSTITUTIONAL SHAREHOLDER SERVICES (ISS) RECOMMENDS
SHAREHOLDERS VOTE FOR APPROVAL OF ASTORIA'S 2005 STOCK
INCENTIVE PLAN
Lake Success, New York, May 9, 2005 -- Astoria Financial Corporation
(NYSE: AF), announced that Institutional Shareholder Services Inc. ("ISS"),
widely recognized as a leading independent proxy advisory and corporate
governance rating firm, has recommended a vote FOR the approval of Astoria's
2005 Re-designated, Amended and Restated Stock Incentive Plan ("the Plan").
Commenting on the ISS recommendation, George L. Engelke, Jr., Astoria's
Chairman, President & CEO said, "We are extremely pleased that the independent
evaluation and analysis of our Stock Incentive Plan by ISS supports the Board of
Directors' recommendation to vote FOR the approval of the Plan, which will
provide the Compensation Committee and the Board with the additional flexibility
to fashion compensation programs which are considerate of the interests of all
shareholders and competitive with programs provided at comparable institutions."
ISS has also recommended a vote FOR the election of all of Astoria's nominees
for director and the ratification of the appointment of Astoria's independent
registered public accounting firm.
Astoria Financial Corporation, the holding company for Astoria Federal
Savings and Loan Association, with assets of $23.3 billion is the fifth largest
thrift institution in the United States. Established in 1888, Astoria Federal is
the largest thrift depository headquartered in New York with deposits of $12.6
billion and embraces its philosophy of Putting people first by providing the
customers and local communities it serves with quality financial products and
services through 86 convenient banking office locations and multiple delivery
channels, including its enhanced website, www.astoriafederal.com. Astoria
Federal commands the fourth largest deposit market share in the attractive Long
Island market, which includes Brooklyn, Queens, Nassau and Suffolk counties with
a population exceeding that of 39 individual states. Astoria Federal originates
mortgage loans through its banking offices and loan production offices in New
York, an extensive broker network in twenty-three states, primarily the East
Coast and the District of Columbia, and through correspondent relationships in
forty-four states and the District of Columbia.
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