Exhibit 99.1

                   Astoria Financial Corporation to Present at
                  Sandler O'Neill Financial Services Conference

    LAKE SUCCESS, N.Y., Nov. 1 /PRNewswire-FirstCall/ -- Astoria Financial
Corporation (NYSE: AF), announced that it will participate in the 2004
Financial Services Conference sponsored by Sandler O'Neill & Partners, L.P. on
Thursday, November 11, 2004.  Astoria's Executive Vice President and CFO Monte
N. Redman will be presenting at the conference at 10:55 a.m. Eastern Time.
    A simultaneous webcast of Mr. Redman'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 is also
available through a direct dial in to (706) 645-9215.  Audio callers should
refer to the "Sandler O'Neill Conference - Session 2".  The webcast
presentation will be archived on the Company's website and will be available
through Friday, November 19, 2004.

    Astoria Financial Corporation, the holding company for Astoria Federal
Savings and Loan Association, with assets of $22.8 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 $12.2 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 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 originates mortgage loans through its banking
offices and loan production offices in New York, an extensive broker network
in nineteen states, primarily the East Coast, and through correspondent
relationships in forty-four states.
    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-                             11/01/2004
    /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://www.astoriafederal.com /
    (AF)

CO:  Astoria Financial Corporation; Sandler O'Neill & Partners, L.P.
ST:  New York
IN:  FIN
SU:  TDS