Brooklyn Federal Bancorp Receives NASDAQ Notice

Brooklyn Federal Bancorp, Inc.

the holding company of Brooklyn Federal Savings Bank, today announced that on May 18, 2011, it received a letter from The NASDAQ Stock Market stating that the Company is not in compliance with NASDAQ Listing Rule 5250(c)(1) because the Company did not timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2011 with the Securities and Exchange Commission. The Notice of noncompliance has no immediate effect on the listing or trading of the Company's common stock on the NASDAQ Global Market.