Dime Community Bancshares Opens New Branch Office in Brooklyn Heights, New York

Market Wire, January, 2009

Dime Community Bancshares, Inc. (NASDAQ: DCOM), the parent company of The Dime Savings Bank of Williamsburgh ("Dime"), today announced that Dime has opened its 23rd retail branch office.

The new branch is located at 188 Montague Street in the Brooklyn Heights section of Brooklyn, New York, and opened for business on December 11, 2008. The Brooklyn Heights branch is Dime's 9th retail branch office located in the borough of Brooklyn.

Vincent F. Palagiano, Chairman and Chief Executive Officer, commented, "As the largest independent bank headquartered in Brooklyn, New York, we are excited to add our ninth Brooklyn-based branch, and are honored to have Brooklyn Borough President Marty Markowitz attend our grand opening ceremony to be held on January 9, 2009. We are also thrilled about the opportunity to expand our professional banking practice to Brooklyn Heights, a marketplace with a high proportion of professional businesses."

ABOUT DIME COMMUNITY BANCSHARES

The Company (NASDAQ: DCOM) had $3.83 billion in consolidated assets as of September 30, 2008, and is the parent company of the Bank. The Bank was founded in 1864, is headquartered in Brooklyn, New York, and currently has twenty-three 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.dime.com .

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