Exhibit 99.1

 ASTORIA FINANCIAL CORPORATION TO PRESENT AT SANDLER O'NEILL FINANCIAL SERVICES
                                   CONFERENCE

     LAKE SUCCESS, N.Y., Nov. 8 /PRNewswire-FirstCall/ -- Astoria Financial
Corporation (NYSE: AF), announced that it will participate in the 2005 Financial
Services Conference sponsored by Sandler O'Neill & Partners, L.P. on Thursday,
November 17, 2005. Astoria's Chairman, President and Chief Executive Officer,
George L. Engelke, Jr., will be presenting at the conference at 1:00 p.m.
Eastern Time.

     A simultaneous webcast of Mr. Engelke's presentation, including the slide
presentation and any follow-up questions and answers, will be available on the
Company's website, http://www.astoriafederal.com. Live audio access to Astoria's
presentation is also available through a direct dial in to (617) 847-8706. The
webcast presentation will be archived on the Company's website and will be
available through Friday, November 25, 2005.

     Astoria Financial Corporation, the holding company for Astoria Federal
Savings and Loan Association, with assets of $22.6 billion is the sixth largest
thrift institution in the United States. Established in 1888, Astoria Federal is
the largest thrift depository headquartered in New York with deposits of $12.8
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, http://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.

     The webcast and slide presentation referenced in this news release may
contain a number of forward-looking statements within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. These statements may be identified by the use
of such words as "anticipate," "believe," "could," "estimate," "expect,"
"intend," "outlook," "plan," "potential," "predict," "project," "should,"
"will," "would" and similar terms and phrases, including references to
assumptions.

     Forward-looking statements are based on various assumptions and analyses
made by us in light of management's experience and its perception of historical
trends, current conditions and expected future developments, as well as other
factors we believe are appropriate under the circumstances. These statements are
not guarantees of future performance and are subject to risks, uncertainties and
other factors (many of which are beyond our control) that could cause actual
results to differ materially from future results expressed or implied by such
forward-looking statements. These factors include, without limitation, the
following: the timing and occurrence or non-occurrence of events may be subject
to circumstances beyond our control; there may be increases in competitive
pressure among financial institutions or from non-financial institutions;
changes in the interest rate environment may reduce interest margins; changes in
deposit flows, loan demand or real estate values may adversely affect our
business; changes in accounting principles, policies or guidelines may cause our
financial condition to be perceived differently; general economic conditions,
either nationally or locally in some or all other areas in which we do business,
or conditions in the securities markets or the banking industry may be less
favorable than we currently anticipate; legislation or regulatory changes may
adversely affect our business; applicable technological changes may be more
difficult or expensive than we anticipate; success or consummation of new
business initiatives may be more difficult or expensive than we anticipate; or
litigation or matters before regulatory agencies, whether currently existing or
commencing in the future, may delay the occurrence or non-occurrence of events
longer than we anticipate. We assume no obligation to update any forward-looking
statements to reflect events or circumstances after the date of this document.

SOURCE  Astoria Financial Corporation
    -0-                             11/08/2005
    /CONTACT:  Peter J. Cunningham, First Vice President, Investor Relations,
of Astoria Financial Corporation, +1-516-327-7877, ir@astoriafederal.com /
    /Company News On-Call:  http://www.prnewswire.com/comp/104529.html /
    /Web site:  http://ir.astoriafederal.com
                http://www.astoriafederal.com /
    (AF)