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EXHIBIT 99.1

                               NORTH FORK BANCORP
   275 BROADHOLLOW ROAD, MELVILLE, NY 11747 (631) 844-1258 FAX (631) 844-1471



FOR IMMEDIATE RELEASE CONTACT: DANIEL M. HEALY
EXECUTIVE VICE PRESIDENT
CHIEF FINANCIAL OFFICER
(631) 844-1258



                     NORTH FORK TO INCREASE ITS COMMON SHARE
                     REPURCHASE PROGRAM BY 5 MILLION SHARES


        MELVILLE, N.Y. - SEPTEMBER 17, 2001 - NORTH FORK BANCORPORATION, INC.
(NYSE: NFB) announced that its Board of Directors approved an increase to its
previously announced share repurchase program by 5 million shares bringing the
total authorized for repurchase to 8 million shares or approximately 5% of the
Company's outstanding shares. North Fork had approved the purchase of
approximately 17 million shares or 10% of its outstanding shares in the third
quarter of 2000. Approximately 14 million shares had been repurchased under that
program.

"Our shares represent our most attractive investment option given the
uncertainties that exist in the domestic and world economies in these troubled
times," said John Adam Kanas, Chairman, President and Chief Executive Officer.

The common stock repurchase program will be done from time to time in
open market or through private transactions, subject to market conditions. The
repurchased shares will be used for general corporate purposes.


* * *

North Fork, with total assets of approximately $16 billion, operates 152
branch locations throughout the New York Metropolitan area and Connecticut.
North Fork previously announced that its pending acquisition of Commercial Bank


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of New York (CBNY) is expected to close in the fourth quarter. On a pro forma
basis, North Fork combined with CBNY will have approximately 165 branches with
20 locations in the lucrative Manhattan marketplace. Information regarding the
CBNY acquisition can be obtained from North Fork's web site.

* * *

This release contains certain forward-looking statements. Examples of
forward-looking statements include, but are not limited to, estimates with
respect to the financial condition, results of operations and business of the
Company that are subject to various factors which could cause actual results to
differ materially from these estimates. These factors include, but are not
limited to, general economic conditions, changes in interest rates, deposit
flows, loan demand and competition; changes in legislation or regulation;
changes in accounting principles, policies or guidelines; and other economic,
competitive, governmental, regulatory, and technological factors affecting NFB's
operations, pricing, products and services. Investors are encouraged to access
NFB's periodic reports filed with the Securities and Exchange Commission for
financial and business information regarding the Company.

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