REVOCABLE PROXY PENNFED FINANCIAL SERVICES, INC

x

PLEASE MARK VOTES
AS IN THIS EXAMPLE

                                    REVOCABLE PROXY

                            PENNFED FINANCIAL SERVICES, INC.

For

Against

Abstain

SPECIAL MEETING OF STOCKHOLDERS-

                     , 2007

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

1.

Approval of the merger (the “Merger”) of PennFed Financial Services, Inc. (“PennFed”) with and into New York Community Bancorp, Inc. (“New York Community”) pursuant to the Agreement and Plan of Merger, dated as of November 2, 2006, by and between New York Community and PennFed.

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The undersigned hereby appoints                                               or either of them, as Proxies, each with the power to appoint his substitute, and hereby authorizes them to represent and to vote, as designated below, a shares of common stock of PennFed Financial Services, Inc. which the undersigned is entitled to vote at the Special Meeting of Stockholders to be held at                              on                      , 2007 at                   m local time or any adjournment or postponement thereof, on the following matters:

For

Against

Abstain

2.

Approval of a proposal to adjourn the special meeting