EXHIBIT 99.1

     Atlantic Coast Federal Corporation Re-Elects Directors
                  Martin, Beekler and Sweat

    WAYCROSS, Ga.--(BUSINESS WIRE)--May 18, 2007--Atlantic Coast
Federal Corporation (NASDAQ:ACFC), the holding company for Atlantic
Coast Bank, today reported on its 2007 annual meeting of stockholders.
In formal business conducted at the meeting, stockholders re-elected
three directors to three-years terms that expire with the 2010 annual
meeting: Charles E. Martin, Jr., Chairman of the Board; Thomas F.
Beeckler, President and Chief Executive Officer of the Beeckler
Company of Jacksonville, Florida, a real estate development firm; and,
Forrest W. Sweat, Jr., a partner in the law firm of Walker & Sweat of
Waycross, Georgia.

    The Company's Directors continuing in office to future years
include: Robert J. Larison, Jr., President and Chief Executive Officer
of Atlantic Coast Federal Corporation; Frederick D. Franklin, Jr., a
partner in the law firm of Rogers Towers, P.A., of Jacksonville; W.
Eric Palmer, Director of Patient Financial Services with the Mayo
Clinic in Jacksonville; Jon C. Parker, Sr., Senior Vice President of
Atlantic Coast Federal Corporation; Robert J. Smith, a Certified
Public Accountant and mortgage banking executive with PHH Mortgage in
Jacksonville; and H. Dennis Woods, retired former business manager of
CSX Transportation, Inc. of Waycross.

    Each of the Directors of Atlantic Coast Federal Corporation also
serves in similar capacities with Atlantic Coast Federal, MHC and
Atlantic Coast Bank, the Company's banking institution.

    Stockholders also ratified the appointment of Crowe Chizek and
Company LLC as the Company's independent registered public accounting
firm for 2007.

    Following the meeting, the Company's Board of Directors formally
named Dawna Miller as Chief Financial Officer of the Atlantic Coast
Federal Corporation, succeeding Jon C. Parker, Sr. and completing the
CFO transition plan announced in March. Parker remains Senior Vice
President and Chief Administrative Officer of the Company.

    Atlantic Coast Federal Corporation is the holding company for
Atlantic Coast Bank, a federally chartered and insured stock savings
association that was organized in 1939 as a credit union to serve the
employees of the Atlantic Coast Line Railroad. In November 2000, the
credit union converted its charter from a federal credit union to a
federal mutual savings association and, in January 2003, Atlantic
Coast Federal Corporation was formed as the holding company. The
Company completed its initial public stock offering in October 2004.
Investors may obtain additional information about Atlantic Coast
Federal Corporation on the Internet at www.AtlanticCoastBank.net,
under the Investor Information section.

    Atlantic Coast Bank, with approximately $886 million in assets as
of March 31, 2007, is a community-oriented financial institution. It
serves southeastern Georgia and northeastern Florida through 14
offices, including a focus on the Jacksonville metropolitan area.

    This news release contains forward-looking statements within the
meaning of the federal securities laws. Statements in this release
that are not strictly historical are forward-looking and are based
upon current expectations that may differ materially from actual
results. These forward-looking statements, identified by words such as
"will," "expected," "believe," and "prospects," involve risks and
uncertainties that could cause actual results to differ materially
from those anticipated by the statements made herein. These risks and
uncertainties involve general economic trends and changes in interest
rates, increased competition, changes in consumer demand for financial
services, the possibility of unforeseen events affecting the industry
generally, the uncertainties associated with newly developed or
acquired operations, and market disruptions and other effects of
terrorist activities. The Company undertakes no obligation to release
revisions to these forward-looking statements publicly to reflect
events or circumstances after the date hereof or to reflect the
occurrence of unforeseen events, except as required to be reported
under the rules and regulations of the Securities and Exchange
Commission.

    CONTACT: Corporate Communications, Inc.
             Patrick J. Watson, 615-254-3376