State Bancorp Inc. announced that at its special stockholders meeting held on November 17, 2009, stockholders voted 73% of the outstanding shares, which is greater than the majority of outstanding shares needed to approve the first proposal to amend the Company's Certificate of Incorporation to increase the number of authorized shares of common stock of the Company from 20,000,000 to 50,000,000. Consequently, this authorization is effective immediately. Additionally, stockholders voted 83% of the outstanding shares, which is greater than the 80% of outstanding shares required to approve the second proposal to amend the Company's Certificate of Incorporation to eliminate the classified board and provide for the annual election of the Board of Directors. This change, while effective immediately, will be fully implemented as existing terms of office expire. Although the majority of stockholders voted overwhelmingly to approve the third proposal, the total votes represented just over 79% of all outstanding shares vs. an 80% requirement. The third proposal seeks to amend the Company's Certificate of Incorporation to reduce the vote required to approve certain business combinations. As a consequence, the Company adjourned the meeting until December 1, 2009, with respect to this proposal only and will continue to solicit proxies in an effort to secure the few additional votes necessary to approve the proposal.

State Bancorp Inc., Special/Extraordinary Shareholders Meeting, Dec 01, 2009 Location: Two Jericho Plaza, Jericho, New York, New York, United States. Agenda: To amend the Company's Certificate of Incorporation to reduce the vote required to approve certain business combinations.

The Board of Directors of State Bancorp Inc., parent company of State Bank of Long Island, declared a cash dividend of $0.05 per share at its October 27, 2009 meeting. The cash dividend will be paid on December 16, 2009 to stockholders of record as of November 20, 2009. The Company also approved the election of Richard Lashley to the Company's Board of Directors. The election of Mr. Lashley increases the membership of the Board of Directors to eleven. He will stand for shareholder re-election at the 2010 Annual Meeting. Richard Lashley is the co-founder and co-owner of PL Capital, an investment management and advisory firm specializing in the banking industry that has been in existence since 1995. PL Capital is well known as a fierce advocate for shareholders' rights and proper corporate governance, and is one of the company's shareholders. Prior to forming PL Capital, Mr. Lashley held several high-ranking positions with KPMG Peat Marwick, the nation's professional services firm serving banks and thrifts, including Managing Director in the Financial Services Corporate Finance Practice and Assistant to the Director of KPMG's National Banking and Finance Practice.