Doral Financial Corporation Declares Cash Dividend on Three Series of Preferred Stock

Business Wire, June 8, 2007

SAN JUAN, Puerto Rico -- Doral Financial Corporation (NYSE: DRL), a diversified financial services company, today announced that, on May 31, 2007, it paid the regular monthly cash dividend on the Company's 7% Noncumulative Monthly Income Preferred Stock, Series A (the "Series A Preferred Stock"), 8.35% Noncumulative Monthly Income Preferred Stock, Series B (the "Series B Preferred Stock") and 7.25% Noncumulative Monthly Income Preferred Stock, Series C (the "Series C Preferred Stock"), in the amount of $0.2917, $0.173958, $0.151042 per share, respectively.

The dividend on each of the series was paid to the record holders as of the close of business on May 29, 2007 in the case of the Series A Preferred Stock, and to the record holders as of the close of business on May 15, 2007 in the case of Series B and Series C Preferred Stock.