COMPETITIVE PERFORMANCE

Investor Presentation

Market Capitalization

We rank 24th among the nation’s banks based on market cap. (1)

$260 C

$170 BAC

$146 JPM

$98 WFC

$65 WB

$55 USB

$38 WM

$32 FITB

$26 BK

$22 NCC

$21 STI

$20 BBT

$18 STT

$18 GDW

$17 PNC

$14 MEL

$14 RF

$14 KEY

$12 NFB

$ 12 MTB

$11 SOTR

$11 NTRS

$ 10 CMA

$9 NYB

$9 MI

$9 ASO

$ 8 CF

$8 UB

$8 SNV

$7 HCBK

$7 SOV

$ 6 BPOP

$6 NCF

$6 FTN

$ 5 BNK

$5 HBAN

$5 ZION

$5 CBSS

$ 5 CBH

$4 HIB

$ 4 TCB

$4 DRL

$4 MRBK

$3 CBSH

$3 ICBC

$3 ASBC

$3 AF

$3 CYN

$3 IFIN

$3 PBCT

Note: This analysis is pro forma for BAC/FBF, JPM/ONE, RF/UPC, NFB/GPT, and ICBC/SIB.

(1) As of 3/1/04.

1

Market Leader

We rank among the leading banks in the Northeast.

Market Cap(1)

(in billions)

$12.4 NFB

$11.6 MTB

$9.4 NYB

$7.4 HCBK

$6.6 SOV

$4. CBH

$3.3 ICBC

$3.1 AF

$2.7 VLY

$2.3 WBS

$1.8 HU

Assets(2)

$49.8 MTB

$43.9 NFB

$43.5 SOV

$23.4 NYB

$22.7 CBH

$22.5 AF

$17.0 HCBK

$17.0 ICBC

$14.6 WBS

$9.9 VLY

$8.1 HU

Deposits(2)

$33.1 MTB

$27.7 NFB

$27.3 SOV

$20.7 CBH

$11.2 AF

$10.5 HCBK

$10.3 NYB

$9.2 ICBC

$8.4 WBS

$7.2 VLY

$6.2 HU

Tangible Equity(2)(3)

$2.57 MTB

$2.50 NFB

$1.96 SOV

$1.33 HCBK

$1.27 CBH

$1.25 NYB

$1.21 AF

$0.87 ICBC

$0.82 WBS

$0.63 VLY

$0.36 HU

(1) As of 3/1/04.

(2) As of 12/31/03.

(3) NYB pro forma for $400 million follow-on offering (1/26/04).

Note: ICBC is pro forma for SIB; NFB is pro forma for GPT.

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Deposit Share

We are a leading depository in the NY Metro Region.

(dollars in millions)

Queens, NY

Rank Institution Branches Deposits Market Share

1 JPMorganChase 42 $ 5,318.1 15.9%

2 North Fork 54 4,927.1 14.7

3 Citigroup 28 4,401.9 13.2

4 Astoria 17 3,061.8 9.2

5 NYB 32 2,918.3 8.7

6 HSBC 20 2,220.8 6.6

7 Ridgewood Savings 9 1,465.0 4.4

8 Maspeth FS&LA 5 883.5 2.6

9 Independence 10 875.9 2.6

10 Dime Community 8 860.6 2.6

Total 344 $ 33,441.3

Nassau, NY

Rank Institution Branches Deposits Market Share

1 North Fork 57 $ 7,100.7 16.9%

2 Citigroup 49 5,853.8 13.9

3 JPMorganChase 31 5,359.4 12.8

4 NYB 35 4,163.7 9.9

5 Astoria 29 3,901.4 9.3

6 Bank of America 49 3,562.6 8.5

7 Washington Mutual 25 2,956.0 7.0

8 Bank of New York 45 1,779.3 4.2

9 HSBC 22 1,768.1 4.2

10 Ridgewood Savings 6 820.8 2.0

Total 420 $41,984.1

Richmond, NY

Rank Institution Branches Deposits Market Share

1 Independence 21 $ 2,887.3 37.4%

2 NYB 22 1,492.4 19.3

3 Citigroup 6 873.7 11.3

4 NSB 12 736.5 9.5

5 JPMorganChase 8 730.6 9.5

6 Washington Mutual 5 543.5 7.0

7 HSBC 2 219.9 2.9

8 VSB 4 164.3 2.1

9 North Fork 2 70.7 0.9

10 Commerce 2 0.0 0.0

Total 83 $ 7,718.8

Suffolk, NY

Rank Institution Branches Deposits Market Share

1 North Fork 60 $5,433.2 20.1%

2 JPMorganChase 29 4,454.0 16.5

3 Astoria 25 2,390.7 8.9

4 Citigroup 28 2,183.0 8.1

5 Washington Mutual 27 2,017.1 7.5

6 Bank of America 33 1,890.4 7.0

7 Bank of New York 45 1,621.7 6.0

8 HSBC 23 1,403.5 5.2

9 NYB 25 1,277.0 4.7

10 Suffolk 26 1,258.0 4.7

Total 394 $ 26,987.2

Source: SNL Financial

3

Stock Price Performance

From 11/23/93 thru 3/1/04, our share price appreciated 3,725%.

(1) (2) (3)

NYB Group A Group B Group C S&P Bank Index

(1) Includes BNK, CF, FITB, MTB, NCF, NFB, and SOV. (2) Includes C, USB, WFC, and WM.

(3) Includes BK, MEL, NTRS, and STT.

4

Stock Price Performance

Our stock has consistently outperformed the industry.

11/23/1993 3/1/2001 3/1/1999

Institution Since NYB’s IPO Since 1/1/2003 3 Year 5 Year

New York Community 3,647% 123% 286% 454%

Group A

North Fork 1,500% 32% 83% 119%

Fifth Third 570 (3) 8 37

M&T 714 24 49 114

Charter One 583 32 52 75

National Commerce 515 25 21 55

BankNorth 776 54 77 122

Sovereign 244 60 158 86

Median 583% 32% 52% 86%

Group B

Citigroup 833% 48% 18% 92%

US Bancorp 927 42 39 18

Wells Faro 540 28 26 75

Washington Mutual 475 37 48 100

Median 686% 40% 32% 83%

Group C

State Street 558% 39% 8% 45%

Bank of New York 528 43 (31) 0

Northern Trust 523 44 (27) 16

Mellon 377 28 (26) 5

Median 525% 41% (26%) 11%

Source: FactSet, SNL Financial. (1) Thru 3/1/04.

Highest performers by category

5

M&A History

Our merger transactions have greatly benefited our shareholders and our partners’.

6/27/00: Announced Haven Acquisition

11/30/00: Closed Haven Acquisition

3/27/01: Announced Richmond County Merger

7/31/01: Closed Richmond County Merger

6/27/03: Announced Roslyn Merger

10/31/03: Closed Roslyn Merger

Haven Richmond County Roslyn

Deal Value—Announcement $196M $802M $1,579M

Deal Value—Closing 335 1,246 2,131

Deal Value/Share—Announcement $ 8.38 $ 18.61 $ 20.33

Deal Value/Share—Closing 14.30 28.92 26.85

Change—Announcement to Closing 71% 55% 32%

6

Investment Opportunity

Our stock is undervalued relative to our track record and our prospects.

Price Cash Return on

Avg. Tang. Historical

5 Year Projected

Long-Term

Company 2004E Book Tang. Book Common Equity EPS CAGR Growth

Northern Trust 21.3x 3.57x 3.57x 18.1% 4.6% 11.2%

State Street 19.5 3.11 4.58 47.1 11.3 13.0

Bank of New York 17.5 3.05 5.94 28.5 1.8 11.9

Mellon 17.5 3.74 9.83 54.6 0.1 11.4

Fifth Third 16.8 3.72 4.15 24.8 17.5 12.7

M&T 16.2 2.03 4.50 33.0 14.4 10.0

New York Community 15.8 2.88 7.52 61.1 38.2 12.6

National Commerce 15.8 2.14 3.90 28.9 14.3 10.9

North Fork 14.9 4.41 6.18 38.5 12.4 9.9

Wells Fargo 14.1 2.84 2.84 30.6 15.8 11.3

U.S. Bancorp 13.4 2.87 4.69 38.0 17.1 10.1

Citigroup 13.1 2.69 2.69 34.8 21.3 11.9

Charter One 12.6 2.49 2.85 22.8 10.9 10.7

Washington Mutual 10.7 2.01 2.98 25.3 17.3 11.6

Source: FactSet, SNL Financial. Data as of or for 4Q-03. Stock prices as of 3/1/04.

Note: NYB’s book and tangible book are pro forma for $400 million follow-on offering (1/26/04).

7

EPS Growth

Our superior stock price has been driven by the rapid growth of our earnings.

30% 9% 9% 4%

1-Year

250% 49% 38% (10%)

3-Year

405% 121% 95% 17%

5-Year

933% 325% 239% 125%

9-Year (4)

NYB Group A(1) Group B (2) Group C(3)

Source: SNL Securities. Originally reported numbers.

(1) Includes BNK, CF, FITB, MTB, NCF, NFB, and SOV.

(2) Includes C, USB, WFC, and WM.

(3) Includes BK, MEL, NTRS, and STT.

(4) Since 1994, one full year after NYB’s IPO.

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EPS Growth

Our earnings per share have grown at a superior CAGR.

Compound Annual Growth Rate

1 Year 3 Year 5 Year 9 Year

NYB 30% 52% 38% 30%

Group A

Charter One 12% 13% 11% 11%

Fifth Third 9 17 18 17

M&T 5 14 14 15

National Commerce 3 8 14 16

North Fork (1) 15 12 23

BankNorth Group 9 18 17 14

Sovereign 18 NM 13 9

Median 9% 14% 14% 15%

Group B

Citigroup 30% 7% 21% 20%

Wells Fargo 10 13 16 13

U.S. Bancorp 9 10 17 19

Washington Mutual 4 21 17 16

Median 9% 11% 17% 17%

Group C

Bank of New York 33% (5%) 2% 7%

Mellon 5 (7) 0 9

State Street 3 7 11 15

Northern Trust (5) (3) 5 10

Median 4% (4%) 3% 9%

Highest performers by category

Source: Company Filings.

9

Performance Measures

Our performance measures rank among the best in the industry.

Cash Return on Avg. Common

Tang. Equity(1) Net

Interest

Margin

Efficiency

Ratio NPAs/ NCOs/

Avg. Loans

Company Name ROAE ROAA Assets

NYB 61.1% 19.7% 2.16% 3.84% 21.95% 0.15% 0.00%

Group A

North Fork Bancorporation, Inc. 38.5% 27.5% 1.99% 4.43% 34.03% 0.07% 0.14%

Fifth Third Bancorp 24.8 21.5 2.03 3.57 47.32 0.35 0.72

M&T Bank Corporation 33.0 11.9 1.36 3.99 53.93 0.57 0.35

Charter One Financial, Inc. 22.8 19.2 1.46 2.84 53.47 0.48 0.33

National Commerce Financial Corporation 28.9 13.2 1.58 4.00 48.40 0.28 0.43

BankNorth 27.6 14.8 1.41 3.66 51.26 0.24 0.26

Sovereign 31.0 14.2 1.06 3.26 52.95 0.51 0.55

Median 28.9% 14.8% 1.46% 3.66% 51.26% 0.35% 0.35%

Group B

Citigroup, Inc 34.8% 19.7% 1.54% 4.18% 53.31% 0.82% 2.15%

US Bancorp 38.0 19.5 2.06 4.45 40.29 0.61 0.96

Wells Fargo 30.6 19.4 1.69 4.97 60.37 0.43 0.79

Washington Mutual, Inc. 25.3 16.8 1.21 2.88 64.76 0.77 0.23

Median 32.7% 19.4% 1.62% 4.32% 56.84% 0.69% 0.88%

Group C

State Street Corporation 47.1% 32.3% 2.04% 1.16% 67.68% 0.01% 0.00%

Bank of New York Company, Inc. 28.5 15.0 1.27 2.17 63.27 0.38 0.51

Northern Trust Corporation 18.1 17.3 1.26 1.64 63.90 0.19 0.01

Mellon Financial Corporation 54.6 20.4 2.06 2.29 75.84 0.15 0.16

Median 37.8% 18.9% 1.66% 1.91% 65.79% 0.17% 0.09%

Highest performers by category

Source: SNL Financial. Data as of or for 4Q ‘03.

(1) Cash earnings represents net income for 4Q ‘03 + pre-tax amortization of intangibles for the quarter.

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