Dime Community Bancshares Schedules Earnings Conference Call

Market Wire, July, 2006

Dime Community Bancshares, Inc. (NASDAQ: DCOM), the parent company of The Dime Savings Bank of Williamsburgh, today announced that management will conduct a conference call at 11:00 A.M. Eastern Time, on Tuesday, July 25, 2006, to discuss DCOM's operating performance for the quarterly period ended June 30, 2006.

Management currently anticipates releasing the DCOM's consolidated earnings for the quarterly period ended June 30, 2006 prior to the opening of the U.S. equity markets on Tuesday, July 25, 2006.

The direct dial number for the call is 800-362-0653. For those unable to participate in the conference call, a replay will be available. To access the replay, dial 800-839-4088 from one hour after the end of the call until midnight Eastern Time on Tuesday, August 1, 2006.

The conference call will also be available via the Internet by accessing the following Web address: www.dimedirect.com or www.vcall.com . Web users should go to the site at least fifteen minutes prior to the call to register, download and install any necessary audio software. The webcast will be available until August 25, 2006.

About Dime Community Bancshares

Dime Community Bancshares, Inc., a unitary thrift holding company, is the parent company of The Dime Savings Bank of Williamsburgh, founded in 1864, and headquartered in Brooklyn, New York. With $3.14 billion in assets as of March 31, 2006, the Bank 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 www.dimedirect.com .

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