FAIRFIELD, NJ--(MARKET WIRE)--Sep 17, 2008 -- Kearny Financial Corp. (NasdaqGS:KRNY - News) (the "Company") announced today that the Company's Board of Directors has declared a quarterly cash dividend of $.05 per share to stockholders of record as of October 3, 2008 payable on October 24, 2008. The Company is the majority-owned subsidiary of Kearny MHC, a federally chartered mutual holding company, which owns 72.2% of the Company's outstanding shares.

Kearny Financial Corp. is the holding company for Kearny Federal Savings Bank, which operates from its administrative headquarters building in Fairfield, New Jersey, and 28 retail branch offices located in Bergen, Hudson, Passaic, Morris, Middlesex, Essex, Union and Ocean Counties, New Jersey. At June 30, 2008, Kearny Financial Corp. had total assets, deposits and stockholders' equity of $2.08 billion, $1.38 billion and $471.4 million, respectively. Shares of Kearny Financial Corp. trade on the Nasdaq Global Select Market under the symbol "KRNY."

Statements contained in this news release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by Kearny Financial Corp. with the Securities and Exchange Commission from time to time. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

     For further information contact:
     Craig L. Montanaro
     Senior Vice President and Director of Strategic Planning
     Kearny Financial Corp.
     (973) 244-4510