Charter Financial Will Offer 11.5-15.5M Shares at $10

Charter Financial Corporation (the "Company")

, announced today that Charter Financial Corporation, a Maryland corporation ("Charter Financial"), the proposed holding company for CharterBank, and First Charter, MHC have received regulatory approval to commence Charter Financial's stock offering in connection with First Charter, MHC's proposed second-step conversion to the stock holding company form of organization. The Company also announced today that the registration statement relating to the sale of common stock of Charter Financial has been declared effective by the Securities and Exchange Commission.