WEST POINT, Ga., Aug. 28 /PRNewswire-FirstCall/ -- Charter Financial Corporation (OTC:CHFN) (BULLETIN BOARD: CHFN) today announced that its board of directors has declared a regular quarterly cash dividend of 50 cents per share. The dividend is payable on September 27, 2007, to stockholders of record on September 14, 2007. This equates to an annualized dividend rate of $2.00 per share. About Charter Financial Charter Financial is the majority-owned subsidiary of First Charter, MHC, a federal mutual holding company, which owns approximately 82 percent of its outstanding shares. First Charter, MHC, has filed a regulatory notice of its intent to waive dividends paid on the shares it owns. Charter Financial Corporation is a savings and loan holding company and the parent of CharterBank, a full-service community bank and a federal savings institution. CharterBank is headquartered in West Point, Georgia, and operates ten branches on the I-85 corridor from LaGrange, Georgia, to Auburn, Alabama. The Company also operates two loan production offices in Georgia. Charter Financial Corporation owns 3.4 million shares of Freddie Mac common stock with a market value of $206.5 million at June 30, 2007. CharterBank's deposits are insured by the Federal Deposit Insurance Corporation. Additional information, including financial highlights, is available on the company's website, http://www.charterbank.net/. Persons interested in receiving e-mail notifications of news about the company may do so by completing the registration form on the investor relations page of the company's website. DATASOURCE: Charter Financial Corporation CONTACT: Robert L. Johnson, President & CEO, , or Curtis R. Kollar, Chief Financial Officer, , both of Charter Financial Corporation, +1-706-645-1391; or Investors, Woody Wallace of The Investor Relations Company, +1-312-245-2700, , for Charter Financial Corporation Web site: http://www.charterbank.net/

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