BROOKLYN, NY -- (MARKET WIRE) -- April 19, 2007 -- Dime Community Bancshares, Inc. (NASDAQ: DCOM), the parent company of The Dime Savings Bank of Williamsburgh, announced that its Board of Directors has declared a quarterly cash dividend of $0.14 per share, payable on May 15, 2007, to all stockholders of record as of April 30, 2007. This dividend is the 40th consecutive quarterly cash dividend paid by the Company.

About Dime Community Bancshares

Dime Community Bancshares, Inc., (NASDAQ: DCOM), (the "Company"), has $3.17 billion in consolidated assets as of December 31, 2006, and is the parent company of The Dime Savings Bank of Williamsburgh (the "Bank"). The Bank was founded in 1864, is headquartered in Brooklyn, New York, and currently has twenty-one branches located throughout Brooklyn, Queens, the Bronx and Nassau County, New York. More information on the Company and Bank can be found on the Bank's Internet website at

Contact Information: Contact: Kenneth Ceonzo Director of Investor Relations 718-782-6200 extension 8279