Elizabeth E. Hance, President and CEO of Magyar Bancorp, Inc.,
Rings The NASDAQ Stock Market Closing Bell

Wednesday, April 12, 2006
at NASDAQ's MarketSite
in New York City.

Magyar Bancorp, Inc. [MGYR]

Elizabeth E. Hance, President and CEO of Magyar Bancorp, Inc. (NASDAQ: MGYR), presides over the closing bell to celebrate its initial public offering on the NASDAQ. Magyar Bancorp, Inc. is the parent company of Magyar Bank, a $350 million asset community bank headquartered in New Brunswick, New Jersey. Magyar Bank offers a complete line of retail and business banking products with offices in New Brunswick, North Brunswick and South Brunswick, New Jersey.

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